Macquarie Starts Splunk (SPLK) at Outperform
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Price: $156.90 --0%
Rating Summary:
24 Buy, 34 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 7 | New: 4
Rating Summary:
24 Buy, 34 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 7 | New: 4
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Macquarie initiated coverage on Splunk (NASDAQ: SPLK) with an Outperform rating and a price target of $90.00.
Analyst Brad Zelnick said, "We initiate coverage of Splunk with an Outperform rating and $90 target price as we expect the company to maintain its market leadership in Operational Intelligence for the foreseeable future. This important Big Data subcategory gleans actionable insights from the overwhelming sea of machine data produced by the Internet of Things, mobile devices, GPS, RFID, machine sensors, telemetry, enterprise systems and various other sources, both on-premise and in the cloud."
"We size Splunk's core addressable market opportunity at $27bn in 2013, based on the three established markets in which it competes; Enterprise Security, IT Operations Management and Business Intelligence. The actual market opportunity is far greater when considering the infinite non-core use cases for which customers are using the platform. A customer’s first experience with Splunk often begins with a single download for a specific purpose and is then followed by various edge applications once the user appreciates the power and ease of using the platform," he added.
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 $71.41 yesterday.
Analyst Brad Zelnick said, "We initiate coverage of Splunk with an Outperform rating and $90 target price as we expect the company to maintain its market leadership in Operational Intelligence for the foreseeable future. This important Big Data subcategory gleans actionable insights from the overwhelming sea of machine data produced by the Internet of Things, mobile devices, GPS, RFID, machine sensors, telemetry, enterprise systems and various other sources, both on-premise and in the cloud."
"We size Splunk's core addressable market opportunity at $27bn in 2013, based on the three established markets in which it competes; Enterprise Security, IT Operations Management and Business Intelligence. The actual market opportunity is far greater when considering the infinite non-core use cases for which customers are using the platform. A customer’s first experience with Splunk often begins with a single download for a specific purpose and is then followed by various edge applications once the user appreciates the power and ease of using the platform," he added.
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 $71.41 yesterday.
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