Cantor Fitzgerald Remains Bullish Ahead of Splunk's (SPLK) 1Q Report

Cantor Fitzgerald maintains a Buy rating and $90 price target on Splunk (NASDAQ: SPLK) leading up to its 1Q16 results. Analyst Brian White believes that Splunk will at least meet his 1Q revenue estimate of $120.9m, and EPS estimate of ($0.04). Splunk is scheduled to report 1Q earnings on May 28th.

White commented on Splunk, saying, "Next week (5/28), Splunk is scheduled to report its 1Q:FY16 (ended April) results and we continue to believe the company is well positioned to break further away from the pack in FY:16. Splunk is hosting a conference call at 4:30 PM ET on 5/28 (Thursday) and the dial-in number is 866-501-1535. Splunk's April quarter has historically been the seasonally weakest of the year and the only quarter that has averaged a sequential sales decline. The good news is that the April quarter ended three weeks ago and we believe investors can now look forward to stronger performance from current levels. At the same time, we believe Splunk is well positioned in FY:16 given the company's broader portfolio, opportunities in overseas markets, strong momentum in security, the build out of Big Data architecture initiatives, and an expanded sales reach."

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 $68.02 yesterday.

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