Barclays Maintains an 'Overweight' on Splunk (SPLK); Growth Momentum Heading Into & Out of Q1

June 1, 2012 2:46 PM EDT
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Price: $53.78 -0.07%

Rating Summary:
    34 Buy, 11 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Barclays maintains an 'Overweight' on Splunk (NASDAQ: SPLK) price target of $40.00.

Analyst, Raimo Lenschow, said, "Numbers were better than expected across the board...Guidance was modestly better than consensus, and we believe sets the company up for further 'beat & raise' quarters, especially given strong growth in both reported and deferred license revenue, the number of larger deals and aggressive sales force expansion. We continue to believe in the structural growth story with a potentially vast end-market opportunity."

For an analyst ratings summary and ratings history on Splunk click here. For more ratings news on Splunk click here.

Shares of Splunk closed at $32.56 yesterday.

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