Splunk price target lowered to $108 from $115 at Mizuho

Mizuho analyst Gregg Moskowitz lowered the firm’s price target on Splunk to $108 from $115 and keeps a Neutral rating on the shares. The analyst’s fundamental checks for the July period “were healthy overall.” Net new business remains challenging and expansion business continues to moderate, but generally not more than expected, the analyst tells investors in a research note. The firm believes government spending was strong overall. It modestly lowered a few price targets for companies where the checks “were more mixed.”