Market Overview

UPDATE: CLSA Upgrades Splunk

Related SPLK
Marc Olesen Joins Splunk As Senior VP And GM, Cloud Solutions
Deutsche Bank: No Short-Term Growth For Splunk
Making Money With Charles Payne: 10/03/14 (Fox Business)

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
Oct 2014William BlairUpgradesMarket PerformOutperform
Oct 2014Summit ResearchMaintainsBuy
Oct 2014Deutsche BankMaintainsBuy

View More Analyst Ratings for SPLK
View the Latest Analyst Ratings

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

 

Related Articles (SPLK)

Around the Web, We're Loving...

Get Benzinga's Newsletters