Market Overview

UPDATE: CLSA Upgrades Splunk

Share:
Related SPLK
Macquarie Initiates Splunk With Outperform Rating, $59 Price Target
BMO On Software: Starts Splunk At Outperform, Tableau, Qlik At Market Perform
The Vetr community has downgraded $SPLK to 2.5-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
Apr 2016MacquarieInitiates Coverage onOutperform
Mar 2016MacquarieInitiates Coverage onOutperform
Mar 2016BMO CapitalInitiates Coverage onOutperform

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!