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SPLK

Splunk

$118.43

-10.08 (-7.84%)

08:00
08/23/19
08/23
08:00
08/23/19
08:00

Splunk may become an acquisition target, says Argus

Argus analyst Joseph Bonner kept his Buy rating and $156 price target on Splunk, saying the concerns among investors about the company's operating cash flow guidance that drove yesterday's 7.8% decline in the stock price may be a "timing issue" reflecting its shift to a "ratable sales model". The analyst expects the company to remain supported by its strong revenue growth within a rapidly expanding big data analytics market, raising his FY20 and FY21 EPS forecasts by 8c and 4c to $1.93 and $2.35 respectively. Bonner also believes that Splunk may attract takeover interest from a larger enterprise software company.

  • 28

    Aug

  • 15

    Oct

SPLK Splunk
$118.43

-10.08 (-7.84%)

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.
08/22/19
FBCO
08/22/19
NO CHANGE
Target $150
FBCO
Outperform
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.
08/22/19
08/22/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Toll Brothers (TOL) downgraded to Market Perform from Outperform at Wells Fargo with analyst Truman Patterson saying although the shares trade at roughly Book Value, he believes the equity lacks a catalyst over the near-to-intermediate term to drive outperformance. 2. SQM (SQM) downgraded to Underweight from Neutral at JPMorgan with analyst Lucas Ferreira citing significant exposure to the deteriorating Chinese market. 3. Fortis (FTS) downgraded to Neutral from Outperformer at CIBC. 4. Splunk (SPLK) downgraded to Neutral from Outperform at Baird with analyst Rob Oliver citing the company's meaningful OCF reduction that stems from the accelerating move to ratable business and reducing up-front invoice durations. 5. Hemispherx (HEB) downgraded to Hold from Buy at Maxim with analyst Jason McCarthy citing capital concerns. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/22/19
BMOC
08/22/19
NO CHANGE
Target $155
BMOC
Outperform
BMO Capital remains positive on Splunk despite quarter negatives
BMO Capital analyst Keith Bachman says that while there were both positives and negatives on Splunk's quarter, he retains his positive view on the shares given the "very solid demand metrics." Consistent with the concerns he raised previously, cash flow metrics deteriorated, given changes in contract structures. However, Bachman believes that "solid" margins and growth will enable cash flow metrics to improve, though he acknowledges at a gradual pace. He reiterates an Outperform rating on the shares, while lowered his price target on the stock to $155 from $157.

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IP

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PPL

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$30.67

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