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Fly News Breaks for May 19, 2017
May 19, 2017 | 08:48 EDT
William Blair analyst Bhavan Suri sees potential for Splunk on May 25 to report a "healthy beat-and-raise performance." The analyst's recent fieldwork suggests the demand trends underpinning Splunk's growth trajectory remain intact. He expects a "solid" Q1 earnings report and keeps an Outperform rating on the shares.
News For SPLK From the Last 2 Days
May 26, 2017 | 09:24 EDT
UP AFTER EARNINGS: Costco (COST), up 1.6%... Big Lots (BIG), up 6.4%... Deckers Outdoor (DECK), up 13.2%... Nutanix (NTNX), up 15.1%... Ulta Beauty (ULTA), up 4.3%... Veeva Systems (VEEV), up 5.8%. ALSO HIGHER: Immunomedics (IMMU), up 3.8% after being initiated with an Outperform at Cowen. DOWN AFTER EARNINGS: Zoe's Kitchen (ZOES), down 14.9%... GameStop (GME), down 7.5%... Splunk (SPLK), down 6%. ALSO LOWER: Asure Software (ASUR), down 6% after its 1.9M share Spot Secondary priced at $13.50 and announcing the acquisition of iSystems and Compass HRM, as well as issuing guidance... JinkoSolar (JKS), down 5.8% after being downgraded at Citi and Morgan Stanley.
May 26, 2017 | 07:58 EDT
Baird analyst Rob Oliver said Splunk delivered solid Q1 results despite choppy execution in Europe. Anything in Europe is largely self-inflicted and correctable, he tells investors. Decelerating growth rates, which were pointed to as a concern of investors, stemmed from changes in sales coverage and territories, added Oliver, who reiterated his Outperform rating and $71 price target on Splunk shares.
May 26, 2017 | 07:17 EDT
Canaccord analyst Richard Davis said Splunk shares were higher in anticipation of a perfect quarter and when it didn't materialize, the shares traded lower. The analyst said the company's numbers were solid across the board but its licensing growth of 16% was below expectations due to seasonality. He recommends investors buy the dip as the company's intermediate and long-term outlook is quite attractive. Davis reiterated his Buy rating and $75 price target on Splunk shares.
May 25, 2017 | 17:36 EDT
UP AFTER EARNINGS: Nutanix (NTNX), up 13.1%... Deckers Brands (DECK), up 12.9%... Ulta Beauty (ULTA), up 4.5%... 8x8, Inc. (EGHT), up 4.2%... Veeva (VEEV), up 3.6%... Costco (COST), up 1.7%. ALSO HIGHER: Big Lots (BIG), up 3.3% after its rival Costco reported better than expected quarterly results. Big Lots reports results tomorrow before the market opens... Tegna (TGNA), up 1.2% after Dealreporter said that it may be a takeover target of Nexstar (NXST). DOWN AFTER EARNINGS: Zoe's Kitchen (ZOES), down 10.5%... GameStop (GME), down 7.9%... Splunk (SPLK), down 5.5%... Marvell (MRVL), down 1.5%. ALSO LOWER: Trillum (TRIL), down 6.4% after it filed to sell common stock and convertible first preferred shares... Targa Resources (TRGP), down 3.6% after it filed to sell 17M shares of common stock... Aerie Pharmaceuticals (AERI), down 0.5% after it filed to sell $50M in common stock... Merrimack Pharmaceuticals (MACK), down 0.3% after it announced the resignation of its chief financial officer Yasir Al-Wakeel.
May 25, 2017 | 15:34 EDT
Pre-earnings options volume in Splunk is 13.2x normal with calls leading puts 2:1. Implied volatility suggests the market is anticipating a move near 9.3%, or $6.29, after results are released. Median move over the past eight quarters is 3.4%.
May 25, 2017 | 13:17 EDT
Notable companies reporting after the market close, with earnings consensus, include Costco (COST), consensus $1.31... Ulta Beauty (ULTA), consensus $1.80... GameStop (GME), consensus 51c... Splunk (SPLK), consensus (4c)... Veeva Systems (VEEV), consensus 18c... Marvell Technology (MRVL), consensus 21c... Brocade (BRCD), consensus 20c... Deckers Outdoor (DECK), consensus (6c).
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