Will This Price Target Increase Affect Splunk (SPLK) Stock Today?

NEW YORK (TheStreet) --  Splunk  (SPLK) was up 6.45% to $48.21 in pre-market trading Friday after Barclays (BCS) increased its price target on the stock to $52, increased its estimates and set an "equal weight" rating.

The firm said the company is seeing higher licensing revenue.

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Separately, TheStreet Ratings team rates SPLUNK INC as a "sell" with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

"We rate SPLUNK INC (SPLK) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."

You can view the full analysis from the report here: SPLK Ratings Report

SPLK Chart SPLK data by YCharts

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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