Splunk downgraded with price estimate of 160$
By - monkey7878
Considering buying in near this level. A starter position then see how the next few weeks go into earnings. I’ll decide on full position after their guidance likely with full expectation that there still be near term pain with their cloud transition. It would be a long term play on a patient thesis.
This is one I am starting a position in if it drops below $120
Their CTO resigned the day after Palantir's last demo day...
I like Splunk and I think this drop is a way overreaction. I also think it can still drop more in the short term.
There are a lot of players in this space and splunk is not near the top