Jefferies raises target on ‘must own’ Splunk to $190 from $150

Jefferies analyst Brent Thill raised the firm’s price target on Splunk to $190 from $150 and keeps a Buy rating on the shares following last night’s results. The stock in premarket trading is up 4% to $169.70. The analyst reiterates Splunk as his top mid-cap pick and encourages investors to look beyond profit and loss metrics to the company’s total annual recurring revenue growth of 52% year-over-year. This indicates the strategic value of the platform as Splunk expands to address a range of workloads, Thill tells investors in a research note. This is a “must own story” with 25%-plus growth at scale, says the analyst.

Related posts

Carl Icahn Increases His Stake In Take-Two Interactive To 10.68%

ValueWalk

iPad Mini Display Outperformed By Kindle Fire HD & Nexus 7

ValueWalk

Foxconn Might Open Manufacturing Plants In The U.S. [REPORT]

ValueWalk

Peter Cundill Protégé Tim McElvaine on Investing in Japan [VIDEO]

ValueWalk

Set Bing Home Page Image As Lock Screen In Windows 8

ValueWalk

Morning Market News: JCP, APO, MCHP, ZIP, ENR, LGF, EA, ATVI, COV, LNT

ValueWalk