Market Overview

UPDATE: Pacific Crest Securities Reiterates On Long-Term Growth Levers

Related SPLK
Vetr Crowd: Splunk To Return More Than 18%
The Market In 5 Minutes: A Three-Decade Low For The Pound
The Vetr community has downgraded $SPLK to 4-Stars (Vetr)

In a report published Tuesday, Pacific Crest Securities analyst Brendan Barnicle reiterated an Outperform rating on Splunk (NASDAQ: SPLK), but lowered the price target from $107.00 to $68.00.

In the report, Pacific Crest Securities noted, “Splunk's patented algorithms gives it a strong competitive advantage that is enabling long-term growth of 30% to 40% because the company faces little competition. To maintain its leadership, the company is developing an application ecosystem. As customers adopt these applications, Splunk will assure continued data growth and high renewals.

"In addition, Splunk is discovering new use cases, which is driving its total addressable market (TAM) beyond our initial expectation of $31.9 billion. As a result, we believe Splunk is well positioned to continue to outperform expectations and its peers.”

Splunk closed on Friday at $45.99.

Latest Ratings for SPLK

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

View More Analyst Ratings for SPLK
View the Latest Analyst Ratings

Posted-In: Brendan Barnicle Pacific Crest SecuritiesAnalyst Color Price Target Analyst Ratings


Related Articles (SPLK)

View Comments and Join the Discussion!