Baird adds Slack (WORK, $23.31) to its Fresh Pick list. The firm calls out the stock’s underperformance YTD and the potential for upside to estimates. Baird likes the risk/reward balance at current levels, reiterating its price target of $31.

Slack shares ended 2019 at $22.48. The 2020 YTD return of 3.7% lags the Nasdaq Composite’s gain of 5.97%.

Shares of Splunk (SPLK, $167.81) today rose nearly 5% on active volume and hit a new all-time high at $168.42. 

Splunk is a long-term software holding in the Tech-Stock Prospector Vulture Portfolio, added in February 2015, when the stock was trading at $67.29.