Fly News Breaks for March 5, 2020
Mar 5, 2020 | 08:34 EDT
Needham analyst Jack Andrews raised the firm's price target on Splunk to $181 from $160 and keeps a Buy rating on the shares. The analyst notes that all of the company's Q4 key metrics exceeded consensus estimates, and while its FY21 guidance was meaningfully below consensus, the undershoot was solely due to a faster than expected ramp of its cloud revenue. Andrews adds that Splunk's software bookings and ARR growth should continue to be strong.
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