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Fly News Breaks for March 5, 2020
SPLK
Mar 5, 2020 | 09:02 EDT
Monness Crespi analyst Brian White downgraded Splunk to Neutral from Buy, stating that he prefers a more cautious stance as Splunk undergoes a more aggressive cloud transition and "the macroeconomic backdrop grows more ominous by the day." The tone of its earnings call was constructive given Splunk's strong ARR outlook, but also featured quite a bit of explaining around its FY21 outlook given what he views as its more aggressive cloud transition, White stated.
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