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Fly News Breaks for March 5, 2020
SPLK
Mar 5, 2020 | 08:09 EDT
Maxim analyst Nehal Chokshi raised the firm's price target on Splunk to $185 from $155 and keeps a Buy rating on the shares after its Q4 results and FY21 guidance. The analyst notes that the annualized recurring revenue growth of 50% - the more appropriate metric to gauge the business as its perpetual license distribution goes to zero - were impressive with accelerated transition to cloud-based bookings.
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