UPDATE: FBN Securities Initiates Splunk at Outperform on Growth Outlook
FBN Securities initiated its coverage on Splunk (NASDAQ: SPLK) with an Outperform rating and a $45 price target.
FBN Securities noted, "SPLK is a fast-growing leader in machine data management, a fast-growing (and emerging) segment. With an attractive business model (volume-based pricing) and a solution that offers real-time intelligence to machine data, SPLK is experiencing strong revenue growth overall (+71% Y/Y last quarter) as both new customer and international growth have been strong. Splunkbase, its vibrant third-party application developer community, is resulting in very strong positive network effects."
Splunk closed at $35.93 on Wednesday.
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