Barclays Maintains an 'Overweight' on Splunk (SPLK); Looking For Another 'Beat and Raise'
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Price: $45.11 -3.4%
Rating Summary:
12 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
12 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade SPLK Now!
Barclays maintains an 'Overweight' on Splunk (NASDAQ: SPLK) price target of $40.00.
Analyst, Raimo Lenschow, said, "Our license and total revenue growth forecasts are slightly above the street. More importantly, we think there will be a small guidance raise in Q2 similar to last quarter as the "beat and raise" approach goes on. However, we do not think management is compelled to immediately guide aggressively given that upside room needs to be left for Q3 and Q4."
Longer-Term, fundamental basis isn't changed although near-term valuation could remain an issue for performance.
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 $30.86 yesterday, with a 52 week range of $25.15-$37.57.
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Analyst, Raimo Lenschow, said, "Our license and total revenue growth forecasts are slightly above the street. More importantly, we think there will be a small guidance raise in Q2 similar to last quarter as the "beat and raise" approach goes on. However, we do not think management is compelled to immediately guide aggressively given that upside room needs to be left for Q3 and Q4."
Longer-Term, fundamental basis isn't changed although near-term valuation could remain an issue for performance.
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 $30.86 yesterday, with a 52 week range of $25.15-$37.57.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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