UPDATE: Cantor Fitzgerald Initiates Coverage on Splunk on Potentially Disruptive Platform

In a report published Friday, Cantor Fitzgerald analyst Brian J. White initiated coverage on Splunk SPLK with a Buy rating and $70.00 price target. In the report, Cantor Fitzgerald noted, “We are initiating coverage of Splunk with a BUY rating and 12-month price target of $70.00. In our view, Splunk represents one of the few pure play stocks on the Big Data trend that we believe remains in the very early stages of development. Through a proprietary machine data engine technology, Splunk's software platform turns machine data into real-time operational intelligence for customers. We believe Splunk could be a disruptive force across the IT landscape as new users are brought onto the platform and new use cases are uncovered.” Splunk closed on Thursday at $61.33.