Canaccord analyst Kingsley Crane lowered the firm’s price target on Splunk to $120 from $130 and keeps a Buy rating on the shares. The analyst said results were strong but noted this is still a challenging macroenvironment and Splunk is still seeing the same reticence to cloud migrations within its base as it did in Q2.
Published first on TheFly
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Read More on SPLK:
- Big Moves in the Cloud: Quarterly Results Spur Bullish Software Sentiment
- Splunk (NASDAQ:SPLK) Excites Investors With Strong Q3; Ups Guidance
- Splunk raises FY23 revenue view to $3.455B-$3.485B from $3.35B-$3.4B
- Splunk sees Q4 revenue $1.055B-$1.085B, consensus $1.06B
- Splunk reports Q3 adjusted EPS 83c, consensus 25c
