Drexel Hamilton Reiterates Buy on Splunk (SPLK) Ahead of 3Q Release
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Drexel Hamilton reiterated a Buy rating and $90.00 price target on Splunk (NASDAQ: SPLK) ahead of the company's 3Q earnings report. Splunk is scheduled to report its results with a conference call at 4:30pm on Tuesday, 11/29.
Analyst Brian White commented, "We believe Splunk will slightly exceed our 3Q:FY17 revenue estimate of $229.7 million (up 32% YoY; Street is at $230.3 million) and meet our EPS projection of $0.07 (Street is at $0.08). Recall, Splunk's 3Q:FY17 outlook calls for sales of $228-230 million. Our 3Q:FY17 revenue forecast calls for a 8% QoQ growth and well below the five-year average increase of 17% for past October quarters."
Shares of Splunk closed at $58.33 yesterday.
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