Needham & Company Starts Splunk (SPLK) at Buy

Needham & Company initiates coverage on Splunk (NASDAQ: SPLK) with a Buy rating and a price target of $95.00.

Analyst Jack Andrews said Splunk represents one of the few open-ended growth stories in technology, since the more customers use their software, the more they want to use it.

He said it is a question of when, not if, SPLK shares break out of their multi-year trading range.

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 $64.09 yesterday.

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