Jefferies analyst John DiFucci reiterates Buy rating and $81 price target on Splunk Inc. (NASDAQ: SPLK), noting strong momentum continues, as the company reported quarterly revenue and EPS figures above consensus, while offering guidance below expectations.

DiFucci writes, "SPLK easily exceeded all expectations for the quarter and while guidance for the year was a bit better, first quarter guidance was well below expectations. This doesn’t concern us given the company’s history of results relative to guidance and as its momentum in the field remains strong as evidenced by the fourth quarter results. We remain Buy-rated with an $81 Price Target."

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Shares of Splunk closed at $64.90 yesterday.