Deutsche Bank Remains Positive On Splunk

In a report published Thursday, Deutsche Bank analyst Karl Keirstead reiterated a Buy rating and $65.00 price target on

. In the report, Deutsche Bank noted, “We attended the SPLK Live event in NYC, where we spoke with a number of users and partners to sharpen our view of SPLK's business momentum ahead of their 3QF15 earnings call (after the close on November 20th). The keynote and breakout sessions were focused on security and analytics use cases, as SPLK tries to expand beyond its core IT-ops roots. Besides pricing concerns, which we've heard consistently while SPLK has posted 50%+ growth every quarter, we didn't pick up evidence pointing to any demand erosion, penetration ceiling or stronger competition in our recent checks.” Splunk closed on Wednesday at $63.90.