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Fly News Breaks for May 25, 2018
SPLK
May 25, 2018 | 07:55 EDT
Credit Suisse analyst Brad Zelnick reiterated an Outperform on Splunk and raised his price target to $125 from $115 following the company's "strong" Q1 results. In a research note to investors, the analyst said that while limited ASC 606 disclosure "blurs" billings, he is encouraged by reacceleration in cloud revenue growth, upward revision to fiscal 2019 revenue guidance and the backing of fiscal 2020 targets.
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