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Fly News Breaks for August 22, 2019
SPLK
Aug 22, 2019 | 08:42 EDT
As reported previously, Baird analyst Rob Oliver downgraded Splunk to Neutral from Outperform following Q2 results. The analyst cited the company's meaningful OCF reduction that stems from the accelerating move to ratable business and reducing up-front invoice durations. He believes the stock may struggle to break to new highs in coming months as incremental investors wrestle with cash flow uncertainty. Olive maintained his $127 price target on Splunk shares.
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