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Friday, Jun 1
2012, 4:00 PM
Splunk (SPLK -16.3%) becomes the latest casualty of the recent selloff in richly-priced tech...
Splunk (SPLK -16.3%) becomes the latest casualty of the recent selloff in richly-priced tech names. Shares end the day near their post-IPO lows after an FQ1 beat and above-consensus FY13 revenue guidance fail to satisfy investors who gave the company sky-high multiples. Barclays' Raimo Lenschow, who launched coverage 10 days ago, is reiterating an Overweight, and is pleased with the company's deferred revenue growth, sales force expansion, and large deal volume.