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Fly News Breaks for May 25, 2018
SPLK
May 25, 2018 | 06:58 EDT
BTIG analyst Edward Parker raised his price target on Splunk to $130 after its Q1 earnings beat and raised guidance for FY19. The analyst says the company's cloud transition is tracking "nicely", making the $2B revenue goal by FY20 more feasible. Parker notes that Splunk will have to address the latest sequential decline in customer adds, but adds that having proven its value proposition, the company can focus on reducing the time to adoption and consumption barriers to its platform. The analyst keeps his Buy rating on Splunk.
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