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Benzinga
Benzinga
Business
Anusuya Lahiri

Analysts Cut Price Targets On Splunk After Q2 Performance, Lower ARR Outlook

Splunk Inc (NASDAQ:SPLK) clocked 32% revenue growth in Q2, topping the consensus. Adjusted EPS of $0.09 beat the consensus.

RBC Capital analyst Matthew Hedberg maintained Outperform and cut the price target from $143 to $139. Splunk delivered a mixed quarter where macro headwinds led some customers to delay cloud transition or expansions, resulting in lower total and cloud ARR, he noted. 

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