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SPLK

Splunk

$119.15

2.15 (1.84%)

06:53
11/18/19
11/18
06:53
11/18/19
06:53

Morgan Stanley upgrades Splunk to Overweight, says shares look undervalued

Morgan Stanley analyst Keith Weiss upgraded Splunk to Overweight from Equal Weight with a price target of $169, up from $140. The stock closed Friday up $2.21 to $119.20. Once Splunk is through its shift to a 100% recurring revenue model and annual invoicing, investors will have better visibility into a company well positioned for key secular trends in data and monitoring, Weiss tells investors in a research note. He believes Splunk can sustain 25%-plus software annual recurring revenue growth, with free cash flow margins in the mid-20s, yielding $6 in free cash flow per share. Meanwhile, Splunk shares currently trade at a 30% valuation discount relative to peers on an enterprise value to 2020 sales basis, adds Weiss. As such, he believes the stock looks undervalued at current levels.

  • 21

    Nov

SPLK Splunk
$119.15

2.15 (1.84%)

11/05/19
JPMS
11/05/19
NO CHANGE
Target $140
JPMS
Overweight
Splunk price target raised to $140 from $130 at JPMorgan
JPMorgan analyst Mark Murphy raised his price target for Splunk to $140 from $130 saying he's positive on the shares after conversations with management, customers, and partners in recent weeks. The feedback supports and strengthens the analyst's view that Splunk is well positioned for bookings acceleration in the second half of the year. Further, he believes the company is likely to disclose a new metric, annual recurring revenue, in the near term. This should benefit the stock by stripping out much of the transition noise and likely drawing attention to a less-volatile, higher-growth metric with growth of 30%-plus, Murphy tells investors in a research note. He keeps an Overweight rating on Splunk shares.
11/08/19
PIPR
11/08/19
INITIATION
Target $160
PIPR
Overweight
Splunk assumed with an Overweight at Piper Jaffray
Piper Jaffray analyst Rob Owens assumed coverage of Splunk with an Overweight rating and $160 price target.
11/14/19
CLVD
11/14/19
DOWNGRADE
CLVD
Neutral
Splunk downgraded to Neutral from Buy at Cleveland Research
Cleveland Research analyst Ben Bollin downgraded Splunk to Neutral from Buy, stating that his recent checks leave him more cautious on the business' trajectory over the next 12-18 months. Talks with partners reveal expectations for slowing growth and more evaluation of competitors, leaving him less enthusiastic about potential upside, Bollin tells investors. While he sees the potential for greater understanding of the new pricing strategy and more aggressive M&A as opportunities over time, he does not view either as a near-term catalyst, added the analyst, who sees a fair value of $125 for Splunk shares.
11/18/19
MSCO
11/18/19
UPGRADE
Target $169
MSCO
Overweight
Splunk upgraded to Overweight from Equal Weight at Morgan Stanley
Morgan Stanley analyst Keith Weiss upgraded Splunk to Overweight from Equal Weight with a $169 price target.

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GLD

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QHC

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SPRT

Support.com

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BXRX

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LMT

Lockheed Martin

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NOC

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RZLT

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MGTA

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Conference/Events
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IMH

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ALEC

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ATAX

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PNM

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