Monness, Crespi, Hardt Downgrades Splunk (SPLK) to Neutral

Monness, Crespi, Hardt analyst Brian White downgraded Splunk (NASDAQ: SPLK) from Buy to Neutral.

The analyst commented, "Last night, Splunk reported solid 4Q:FY20 results and served up strong ARR guidance, while calling out a more rapid transition to the cloud as reflected in its FY:21 outlook. As Splunk undergoes a more aggressive cloud transition and the macroeconomic backdrop grows more ominous by the day, we are taking a more cautious stance on Splunk and downgrading our rating to Neutral from Buy."

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 $149.20 yesterday.

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