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UPDATE: Credit Suisse Initiates Outperform, PT of $40 on Splunk; Big Fast Data

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Credit Suisse initiates its coverage on Splunk (NASDAQ: SPLK) as the company is in the middle of the big data growth in the next decade. Price target is set at $40.

Credit Suisse notes, "Although IDC estimates that the amount of data managed by enterprises will grow by a factor of 50 over the next decade,1 95% of this data is multistructured in nature and is increasing at an exponential rate that far outpaces the growth of structured data.2 These large, untapped datasets define a new category of information known as Big Data.3. …We believe that Splunk's disruptive technology, the massive market opportunity, and the early-stage adoption of Big Data technologies could produce significant, sustained revenue growth."

SPLK closed at $31.35 on Friday.

Latest Ratings for SPLK

DateFirmActionFromTo
Mar 2017BernsteinInitiates Coverage OnOutperform
Jan 2017Argus ResearchInitiates Coverage OnHold
Jan 2017Wells FargoInitiates Coverage OnOutperform

View More Analyst Ratings for SPLK
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Price Target Initiation Pre-Market Outlook Analyst Ratings

 

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