Splunk price target raised to $115 from $100 at Mizuho

Mizuho analyst Gregg Moskowitz raised the firm’s price target on Splunk to $115 from $100 and keeps a Neutral rating on the shares. The analyst’s fundamental enterprise software checks for the January period were generally solid, even as most of its contacts are expecting a meaningfully weaker Q1 and Q2. In addition, management teams across software have started aggressively cutting costs and moderating hiring, which is prudent given lower growth projections, the analyst tells investors in a research note. The firm continues to find the overall risk/reward "quite attractive," and believes investors should be rewarded over the medium-term, if not sooner.