Bank of America Has Bullish Outlook on Splunk Following User Conference

In a report published Wednesday, Bank of America analyst Kash Rangan reiterated a Buy rating and $82.00 price target on

. In the report, Bank of America noted, “We reiterate our Buy and $82 PO on Splunk after attending SplunkLive in SF. We came away bullish after seeing a full room ~400 attendees at the keynote. Much of the conference focused on the core IT ops customers: Wells Fargo, Autodesk, and Zoosk gave presentations on how they use Splunk to monitor systems and identify code/performance issues. While ADSK spoke on how Splunk and Hunk were setup for BI, the system was more a proof of concept than a committed implementation.” Splunk closed on Tuesday at $41.05.