Needham & Company Starts Splunk (SPLK) at Buy, Riding "Big Data" Trend
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Price: $44.82 -0.13%
Rating Summary:
12 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
12 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade SPLK Now!
Needham & Company initiates coverage on Splunk (NASDAQ: SPLK) with a Buy rating and $42 price target.
The analyst comments, "The "Big Data" trend is driving significant IT budget spending, and Splunk is one of the few pure-play companies to benefit from this important trend. Our growth thesis for Splunk has two major components: first, we believe the "data explosion" in enterprises will continue based on the proliferation of equipment producing "machine data" (log files, etc)."
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 $37.81 yesterday, with a 52 week range of $25.15-$38.49.
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The analyst comments, "The "Big Data" trend is driving significant IT budget spending, and Splunk is one of the few pure-play companies to benefit from this important trend. Our growth thesis for Splunk has two major components: first, we believe the "data explosion" in enterprises will continue based on the proliferation of equipment producing "machine data" (log files, etc)."
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 $37.81 yesterday, with a 52 week range of $25.15-$38.49.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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