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Splunk (SPLK -4.7%), which has rallied strongly in recent trading, is selling off after Drexel...

Splunk (SPLK -4.7%), which has rallied strongly in recent trading, is selling off after Drexel Hamilton starts coverage with a Hold and $34 PT. While recognizing Splunk's big data credentials, the firm notes plenty of competition also exists. Splunk's S-1 claims indirect competitors include systems management software vendors (IBM, H-P, CA), web analytics vendors (Google, Adobe), and business intelligence software firms (IBM, Oracle, SAP), among others. (previous)
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