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UPDATE: Topeka Capital Markets Initiates Splunk at Buy on Big Data Positioning

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Topeka Capital Markets initiated coverage on Splunk (NASDAQ: SPLK) with a Buy rating and a $38.25 price target.

Topeka Capital Markets commented, "Splunk is an emerging software platform vendor focused on turning machine data into realtime operational intelligence, which we believe represents an exciting play on the trend toward Big Data. Big Data remains in the early stages of development and most similar to the nascent stages of cloud computing a few years ago. Over the past four years, Splunk has grown sales by 91% per annum. We view Splunk as a high-risk, high-return stock that we believe has a disruptive technology platform that taps into the Big Data phenomenon. We believe Splunk represents one of the few pure plays on Big Data."

Splunk closed at $29.11 on Thursday.

Latest Ratings for SPLK

DateFirmActionFromTo
Oct 2016Piper JaffrayInitiates Coverage OnOverweight
Oct 2016CitigroupMaintainsNeutral
Oct 2016Guggenheim SecuritiesDowngradesBuyNeutral

View More Analyst Ratings for SPLK
View the Latest Analyst Ratings

Posted-In: Topeka Capital MarketsAnalyst Color Initiation Intraday Update Analyst Ratings

 

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