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UPDATE: Morgan Stanley Reiterates On Splunk On Positive Outlook

By Insider Scoop
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Courtesy of Benzinga.

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In a report published Friday, Morgan Stanley analyst Keith Weiss reiterated an Overweight rating on Splunk (NASDAQ: SPLK), and raised the price target from $66.00 to $82.00.

In the report, Morgan Stanley noted, “The combo of accelerating billings growth (+50% vs. 48% last Q) and improving profitability drives greater confidence in a durable FCF story developing for SPLK. The FY16 outlook is conservative but we see plenty of room for numbers to move higher and the stock to move towards our new $82 PT.”

Splunk closed on Thursday at $64.94.

Latest Ratings for SPLK

Date Firm Action From To
Nov 2014 Morgan Stanley Maintains Overweight
Nov 2014 Jefferies Initiates Coverage on Buy
Oct 2014 William Blair Upgrades Market Perform Outperform

View More Analyst Ratings for SPLK
View the Latest Analyst Ratings

Posted-In: Keith Weiss Morgan StanleyAnalyst Color Price Target Analyst Ratings

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