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SPLK

Splunk

$128.68

-7.12 (-5.24%)

08:41
05/24/19
05/24
08:41
05/24/19
08:41

Splunk price target lowered to $115 from $125 at Guggenheim

Guggenheim analyst Imtiaz Koujalgi said Splunk reported a mixed quarter, with headline metrics above consensus but billings and cash flow weighed down by a ratable mix shift, increasing contract duration and shrinking invoicing duration. Noting that the company expects the invoicing duration to be a headwind for the rest of the year and guided down its operating cash flow, Koujalgi lowered Splunk's price target to $115 from $125 and keeps a Neutral rating on the stock.

  • 13

    Jun

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    Jul

SPLK Splunk
$128.68

-7.12 (-5.24%)

05/24/19
LEHM
05/24/19
NO CHANGE
Target $158
LEHM
Overweight
Barclays sees short-term weakness in Splunk as long-term opportunity
While Splunk continued its tradition of beating and raising sales numbers, a bookings deceleration and a guide-down on operating cash flow for the fiscal year "opens up questions," Barclays analyst Raimo Lenschow tells investors in a post-earnings research note titled "Bookings Growth of +30% Not Too Shabby." The analyst, however, believes bookings growth of 33% for a $2B-plus revenue company is "still impressive." Nonetheless, he thinks the operating cash flow revision driven by $80M of un-invoiced contracts will weigh on the shares. Without a clear path to calculating this un-invoiced number, investors will be split on taking management at their word, Lenschow contends. He expects Splunk shares to be under pressure in the short-term, but thinks this could create a buying opportunity for longer term investors. Lenschow keeps an Overweight rating on the name with a $158 price target.
05/24/19
BMOC
05/24/19
NO CHANGE
Target $157
BMOC
Outperform
Splunk price target lowered to $157 from $162 at BMO Capital
BMO Capital analyst Keith Bachman lowered his price target on Splunk to $157 to reflect "some uncertainty" around the company's growth rates and free cash flow penetration, even though its Q1 revenue growth accelerated to 36% from 35% in the prior quarter and its FY20 guidance was raised slightly. The analyst also keeps his Outperform rating on Splunk, saying the company has "multiple avenues" toward expansion of its total addressable market that include Security, Internet of Things, and Business Intelligence segments. Bachman further contends that the valuation on the stock is still "attractive" relative to the company's growth rate.
05/24/19
JEFF
05/24/19
NO CHANGE
Target $157
JEFF
Buy
Splunk exceeded most metrics for Q1, says Jefferies
Splunk exceeded most metrics for fiscal Q1, other than a shortfall in long-term deferred, and guided fiscal Q2 above the Street, Jefferies analyst John DiFucci tells investors in a research note. The company's move to ratable revenue will weigh on cash flow this year, however, as its guidance of $250M was over $100M below last quarter's outlook, the analyst adds. DiFucci says that while his analysis indicates Splunk's business momentum moderated in Q1, he continues to view the company as a "unique asset." The analyst maintains a Buy rating on the shares with a $157 price target.
05/23/19
MUFG
05/23/19
NO CHANGE
Target $159
MUFG
Overweight
Splunk price target raised to $159 from $153 at MUFG
MUFG analyst Stephen Bersey raised his price target on Splunk to $159 and kept his Overweight rating after its Q1 earnings beat, saying the company is sustaining its "impressive" operating performance with "strong" revenue growth and margin expansion. The analyst expects Splunk to continue to benefit from end market demand in FY20 and believes that its product portfolio makes it well positioned in the enterprise analytics and security markets.

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