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SPLK

Splunk

$128.51

1.87 (1.48%)

09:01
08/22/19
08/22
09:01
08/22/19
09:01

Splunk price target lowered to $150 from $160 at Credit Suisse

Credit Suisse analyst Brad Zelnick lowered his price target for Splunk to $150 from $160 after the company reported "strong" headline results but "quite surprisingly," fiscal year cash flow was "dramatically" cut due to timing/duration as invoicing shifts to annual terms. The analyst reiterates an Outperform rating on the shares.

  • 28

    Aug

  • 15

    Oct

SPLK Splunk
$128.51

1.87 (1.48%)

08/22/19
WEDB
08/22/19
NO CHANGE
Target $153
WEDB
Outperform
Splunk price target lowered to $153 from $158 at Wedbush
Wedbush analyst Steve Koenig lowered his price target for Splunk to $153 from $158 on lower near-term cash flows. Nonetheless, the analyst reiterates an Outperform rating on the shares after the company delivered a "solid" beat and raise, with "impressive results" on most major metrics.
08/22/19
JEFF
08/22/19
NO CHANGE
Target $157
JEFF
Buy
Splunk cash flow guidance cut may keep a 'lid on the stock,' says Jefferies
Jefferies analyst John DiFucci said Splunk reported "very strong" Q2 results and gave Q3 guidance that was above consensus, but the company's cash flow guidance cut "may keep a lid on the stock...for now." The $550M net negative swing in operating cash flow guidance is due to a faster than expected transition to a purely renewable mix as perpetual licenses will be only about 1% of Software bookings by year-end and a much lower expected percentage of upfront cash collections for term and cloud deals, explained DiFucci, who believes a new pricing framework will drive greater use and sales for Splunk over time. He maintains a Buy rating and $157 price target on Splunk shares.
08/22/19
BARD
08/22/19
DOWNGRADE
Target $127
BARD
Neutral
Splunk downgraded to Neutral at Baird
As reported previously, Baird analyst Rob Oliver downgraded Splunk to Neutral from Outperform following Q2 results. The analyst cited the company's meaningful OCF reduction that stems from the accelerating move to ratable business and reducing up-front invoice durations. He believes the stock may struggle to break to new highs in coming months as incremental investors wrestle with cash flow uncertainty. Olive maintained his $127 price target on Splunk shares.
08/22/19
GSCO
08/22/19
NO CHANGE
Target $131
GSCO
Neutral
Splunk price target raised to $131 from $119 at Goldman Sachs
Goldman Sachs analyst Kevin Kumar called it "a busy" second fiscal quarter for Splunk, noting the company's revenue outperformance, $550M reduction in cash flow guidance and deal to acquire SignalFx. Despite the major headwind to FY20 cashflow it will cause, he was encouraged to see that Splunk has accelerated its transition from perpetual to license, said Kumar. The analyst, who said he is willing to look past the timing related headwinds to cash flow from the license shift, also said he believes the proposed acquisition of SignalFx should fill key gaps in Splunk's current portfolio. He raised his FY20/21 revenue estimates and increased his price target on Splunk shares $131 from $119 following last night's news, but keeps a Neutral rating on the stock.

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NOC

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PSMT

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IIVI

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-0.5 (-1.26%)

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NVR

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NHYDY

Norsk Hydro

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RESN

Resonant

$3.05

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NINE

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MPWR

Monolithic Power

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AAPL

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IDA

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POST

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