Market Overview

UPDATE: CLSA Upgrades Splunk

Share:
Related SPLK
Splunk, Workday Shares Downgraded To Neutral At Citi
Is Microsoft's Profit Growth Sustainable?
The Vetr community has downgraded $SPLK to 1.5-Stars (Vetr)

Shares of Splunk (NASDAQ: SPLK) are down 6.4 percent to $66.50, despite being upgraded by CLSA from Underperform to Outperform.

Analyst Ed Maguire views the 38 percent drop from the February high as a strategic entry point in a “strategic name.” According to Maguire, the slide has nothing to do with Splunk's fundamentals.

In addition, the company's 2015 revenue growth forecasts are conservative, Maguire said. He said Splunk has an expansive market opportunity going forward, and long-term opportunity in the industrial Internet of Things.

Latest Ratings for SPLK

DateFirmActionFromTo
Jul 2016CitigroupDowngradesBuyNeutral
Jun 2016Stifel NicolausMaintainsBuy
May 2016CitigroupMaintainsBuy

View More Analyst Ratings for SPLK
View the Latest Analyst Ratings

Posted-In: CLSA Ed MaguireAnalyst Color Analyst Ratings Movers Tech

 

Related Articles (SPLK)

View Comments and Join the Discussion!