BMO Capital analyst Keith Bachman raised the firm’s price target on Splunk to $113 from $100 and keeps an Outperform rating on the shares. The company’s Q4 results were "reasonable on most metrics", and while the sales mix included more license revenues, its guidance was "solid", the analyst tells investors in a research note. Competitive concerns will remain an overhang for the stock, but the "healthy" free cash flow outlook will help support the shares in the current environment, the firm added.
Published first on TheFly
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