Splunk demand trends 'sounded strong' at user conference, says Mizuho
After speaking with several partners and customers of Splunk at its annual user conference in Las Vegas, Mizuho analyst Gregg Moskowitz says demand trends for the company "sounded strong." In addition, while Splunk's "impressive" technological capabilities were on full display, the company could have articulated its recent pricing changes more clearly, Moskowitz tells investors in a research note. Nonetheless, the analyst believes Splunk's value proposition "remains significantly differentiated" and that the company is very well positioned to continue growing at a high rate. He keeps a Buy rating on the shares with a $155, but admits the stock could be range-bound in the near-term with cash flow from operations expected to be negative for the foreseeable future. The shares in morning trading are up 6%, or $6.77, to $117.23.