Wedbush raised the firm’s price target on Splunk to $105 from $86 and keeps a Neutral rating on the shares. Splunk reported a good quarter with all metrics coming in above Street expectations, featuring net new ARR that more than doubled from the prior quarter, the analyst tells investors in a research note. If similar momentum and execution sustains there could be upside to ARR and free cash flow for the year, the firm contends.
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