MKM Partners Starts Splunk (SPLK) at Neutral

MKM Partners initiates coverage on Splunk (NASDAQ: SPLK) with a Neutral rating and a price target of $55.00.

Analyst Kevin Buttigieg commented, "While we are impressed with SPLK's solid growth, leadership position, and market potential, and think revenue growth is apt to exceed FY17 consensus of $883mn, we believe the lack of an inflection point in market growth as the solution continues to be evangelized will prevent both faster growth and more meaningful margin expansion. As such, we are initiating coverage at Neutral."

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 $48.87 yesterday.

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