Mizuho Securities Starts Splunk (SPLK) at Neutral
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Mizuho Securities initiates coverage on Splunk (NASDAQ: SPLK) with a Neutral rating and a price target of $60.00.
Analyst Abhey Lamba commented, "We initiate coverage of Splunk with a Neutral rating and $60 PT. We favor the story and believe the company can capitalize on a differentiated product, strong customer momentum and ample runway for growth given the large market opportunity. However, given the model transition, we see risk to the n-t license revenue trajectory as well as profitability gains as management aggressively invests for growth. We view the stock as fully valued at current levels and see little support from a valuation standpoint."
Shares of Splunk closed at $58.37 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BTIG Starts Mitek Systems (MITK) at Buy
- MKM Partners Raises Price Target on Broadcom Ltd. (AVGO) to $207 Following 4Q Beat
- Broadcom (AVGO) PT Raised to $215 at Oppenheimer
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!