UPDATE: JG Capital Initiates Splunk at Overweight on Upside Outlook
JG Capital initiated coverage on Splunk (NASDAQ: SPLK) with an Overweight rating and a $40 price target.
JG Capital noted, "Splunk's differentiator is its proprietary machine data engine, comprised of collection, indexing, search and data management capabilities. … We think upside to our estimates is likely for 2H:12, based on Splunk's strong acceptance in the market, lack of meaningful competition and conservative guidance. … For FY:13 (Jan), we are modeling revenue growth of 60% y/y and an EPS loss of $0.04. For FY:14 (Jan), we are at 46% y/y and EPS of $0.09."
Splunk closed at $32.70 on Monday.
Latest Ratings for SPLK
|Jun 2016||Stifel Nicolaus||Maintains||Buy|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.