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SPLK

Splunk

$112.63

2.22 (2.01%)

09:47
10/23/19
10/23
09:47
10/23/19
09:47

Splunk demand trends 'sounded strong' at user conference, says Mizuho

After speaking with several partners and customers of Splunk at its annual user conference in Las Vegas, Mizuho analyst Gregg Moskowitz says demand trends for the company "sounded strong." In addition, while Splunk's "impressive" technological capabilities were on full display, the company could have articulated its recent pricing changes more clearly, Moskowitz tells investors in a research note. Nonetheless, the analyst believes Splunk's value proposition "remains significantly differentiated" and that the company is very well positioned to continue growing at a high rate. He keeps a Buy rating on the shares with a $155, but admits the stock could be range-bound in the near-term with cash flow from operations expected to be negative for the foreseeable future. The shares in morning trading are up 6%, or $6.77, to $117.23.

SPLK Splunk
$112.63

2.22 (2.01%)

09/17/19
09/17/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Alder Biopharmaceuticals (ALDR) upgraded to Neutral from Sell at UBS and to Equal Weight from Underweight at Morgan Stanley. 2. Snap (SNAP) upgraded to Neutral from Negative at Susquehanna with analyst Shyam Patil saying his recent advertising channel checks have suggested that Snap's "solid" growth has continued in Q3 with expectations for continued progress in Q4. 3. Splunk (SPLK) upgraded to Overweight from Neutral at JPMorgan with analyst Mark Murphy saying he expects a bookings growth rebound in the second half of 2019 and has a favorable view of the company's transition to a recurring/renewable model. 4. Circor (CIR) upgraded to Overweight from Sector Weight at KeyBanc analyst Jeffrey Hammond saying he sees a wide range of potential outcomes that generally support a higher stock price, including arriving at 2020 targets, or equivalent figures net of divestitures, divesting the Energy business to accelerate deleveraging and refocus the portfolio around less volatile Industrial and Aero assets, or falling short of targets and/or failing to monetize the Energy assets, commencing a change of leadership and/or renewed takeout chatter. 5. Burlington Stores (BURL) and TJX (TJX) upgraded to Neutral from Sell at UBS. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/02/19
RHCO
10/02/19
INITIATION
RHCO
Buy
Splunk initiated with a Buy at SunTrust
SunTrust analyst Joel Fishbein initiated Splunk with a Buy rating and $160 price target.
10/02/19
RHCO
10/02/19
INITIATION
RHCO
SunTrust initiates infrastructure and security sector
SunTrust analyst Joel Fishbein initiated fourteen stocks in the infrastructure and security sector. Regarding infrastructure, he said he believes "we are in the 3rd inning of a multi year (even multi-decade) opportunity" and projected on-demand penetration of 70% by 2028, adding that "spending on cloud software is projected to grow at ~3x the overall software market rate, resulting in a greater than $208B market opportunity through 2025." However, Fishbein cautioned to "stay selective" as while he is bullish on the underlying trends, "too many investors are chasing too few stories." For cybersecurity, Fishbein noted that it remains a top priority for the corporations, and cited the IDC stating that "worldwide spending on security-related hardware, software, and services is forecast to reach $133.7B in 2022 at a compound annual growth rate of 9.9%." He believes that emerging vendors with innovative technology are growing much faster, and sees a "shift in spending from legacy security providers to next generation technology providers and multi-product platforms." The analyst started eight names with Buy ratings -- Atlassian (TEAM), New Relic (NEWR), ServiceNow (NOW), Splunk (SPLK), Palo Alto Networks (PANW), Rapid7 (RPD), SailPoint (SAIL), and Zscaler (ZS). The other six names Fishbein started with Hold ratings -- PagerDuty (PD), Check Point (CHKP), FireEye (FEYE), Proofpoint (PFPT), Qualys (QLYS), and Tenable Holdings (TENB).
10/08/19
JEFF
10/08/19
INITIATION
Target $157
JEFF
Buy
Splunk assumed with a Buy rating at Jefferies
Jefferies analyst Brent Thill assumed coverage of Splunk with a Buy rating and $157 price target. The analyst last night assumed coverage of the Software industry and adjusted some of his ratings to be more defensive in light of valuation and macroeconomic concerns. However, he remains positive on the industry and believes that the fundamentals of businesses in the space are "very strong."

TODAY'S FREE FLY STORIES

DIS

Disney

$147.12

8.56 (6.18%)

, NFLX

Netflix

$284.22

-7.79 (-2.67%)

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On The Fly
Disney higher as Disney+ streaming service hits 10M subscribers after one day »

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DIS

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NFLX

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AAPL

Apple

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NTAP

NetApp

$60.15

0.03 (0.05%)

15:04
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Options
NetApp options imply 14.0% move in share price post-earnings »

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PDLB

PDL Community Bancorp

$13.78

-0.21 (-1.50%)

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CRK

Comstock Resources

$6.86

-0.02 (-0.29%)

, CHK

Chesapeake

$0.70

0.0303 (4.52%)

14:56
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Periodicals
Jerry Jones confirms to Bloomberg that Comstock in talks for Chesapeake assets »

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CRK

Comstock Resources

$6.86

-0.02 (-0.29%)

CHK

Chesapeake

$0.70

0.0303 (4.52%)

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INST

Instructure

$50.73

2.75 (5.73%)

14:55
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Periodicals
Instructure exploring sale following activist pressure, Bloomberg says »

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ILMN

Illumina

$297.27

1.39 (0.47%)

14:55
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Conference/Events
Illumina participates in a conference call with SVB Leerink »

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  • 13

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CSCO

Cisco

$48.52

0.14 (0.29%)

14:49
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Options
Cisco options imply 7.1% move in share price post-earnings »

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LPSN

LivePerson

$34.88

-0.29 (-0.82%)

14:48
11/13/19
11/13
14:48
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14:48
Conference/Events
LivePerson management to meet with Jefferies »

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ESTA

Establishment Labs

$23.77

0.17 (0.72%)

14:46
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14:46
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Conference/Events
Establishment Labs management to meet with Jefferies »

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  • 13

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CLDR

Cloudera

$8.47

-0.195 (-2.25%)

14:45
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Options
Cloudera call volume above normal and directionally bullish »

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  • 09

    Dec

DIS

Disney

$145.75

7.19 (5.19%)

14:41
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14:41
Recommendations
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DIS

Disney

$145.31

6.75 (4.87%)

14:38
11/13/19
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Hot Stocks
Disney confirms 10M sign-ups for Disney+ since yesterday's launch »

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14:35
11/13/19
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General news
Fedspeak continues Thursday, headlined by Chair Powell »

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LANC

Lancaster Colony

$154.41

0.11 (0.07%)

14:33
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LANC

Lancaster Colony

$154.13

-0.17 (-0.11%)

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  • 13

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AXAS

Abraxas Petroleum

$0.29

-0.027 (-8.57%)

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AXAS

Abraxas Petroleum

$0.29

-0.027 (-8.57%)

14:26
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Earnings
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DBX

Dropbox

$19.14

0.24 (1.27%)

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Options
Dropbox call volume above normal and directionally bullish »

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  • 19

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EBS

Emergent BioSolutions

$55.00

-0.31 (-0.56%)

14:25
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Conference/Events
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TTWO

Take-Two

$119.84

0.84 (0.71%)

, NVDA

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TTWO

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NVDA

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I

Intelsat

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  • 10

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SQM

SQM

$23.75

-1.15 (-4.62%)

, ALB

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SQM

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LTHM

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FMC

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$96.16

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

14:17
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Technical Analysis
NASDAQ market internals summary »

Volume is above average…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

14:16
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11/13
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Technical Analysis
NYSE market internals summary »

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TEVA

Teva

$9.75

0.145 (1.51%)

14:10
11/13/19
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Options
134K contract put spread in Teva rolls puts into put spread »

134K contract put spread…

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  • 07

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