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Shares of Splunk Inc. (NASDAQ:SPLK) are up 1.3% on Monday after the software company announced the appointment of Brian Roberts as CFO effective immediately. Roberts will take the place of previous CFO Jason Child who announced his departure in September to take another position. Since that time, Splunk has been operating with an Office of the CFO that included the CEO and others.
Rosenblatt Securities analysts wrote in a note, “We view the appointment of Brian Roberts as an incremental positive for Splunk as it provides greater certainty and brings a fresh perspective to the executive team at a time when Splunk is completing its model transition and, we expect, should demonstrate significant improvements in cash flow over the next year.”
Roberts was previously CFO of Ozone Networks, prior to that he was CFO of Lyft (NASDAQ:LYFT) and held senior roles at Walmart (NYSE:WMT) and Evercore.
Rosenblatt reiterated a Buy rating and $130.00 price target on SPLK.
