BofA/Merrill Lynch Reiterates Bullish Stance on Splunk (SPLK) Following SplunkLive

BofA/Merrill Lynch analyst Kash Rangan reiterated a Buy rating and $82 price target on Splunk (NASDAQ: SPLK) following SplunkLive in San Francisco.

"We came away bullish after seeing a full room ~400 attendees at the keynote," Rangan commented, "Much of the conference focused on the core IT ops customers: Wells Fargo, Autodesk, and Zoosk gave presentations on how they use Splunk to monitor systems and identify code/performance issues. While ADSK spoke on how Splunk and Hunk were setup for BI, the system was more a proof of concept than a committed implementation."

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 $41.05 yesterday.

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