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SPLK

Splunk

$149.24

-1.67 (-1.11%)

05:11
12/02/19
12/02
05:11
12/02/19
05:11

Splunk upgraded to Buy from Neutral at Goldman Sachs

Goldman Sachs analyst Christopher Merwin upgraded ReneSola to Buy from Neutral with a price target of $180, up from $147. The shares closed Friday down $1.78 to $149.22. After a "strong" fiscal Q3 report, the analyst sees "several catalysts" for Splunk shares to positively re-rate over the next 12 months. These include a new pricing model that decouples revenue from indexed log volume, newly-reported annual recurring revenue growth, and "de-risked" cash flow expectations through fiscal 2023. For a company that is growing annual recurring revenue over 50%, and should continue to grow at least mid-40% through next year per management guidance, Splunk's current valuation of eight-times 2020 sales is "undemanding," Merwin tells investors in a research note.

  • 02

    Dec

SPLK Splunk
$149.24

-1.67 (-1.11%)

11/22/19
WEDB
11/22/19
NO CHANGE
Target $162
WEDB
Outperform
Splunk price target raised to $162 from $153 at Wedbush
Wedbush analyst Steve Koenig raised his price target for Splunk to $162 from $153, saying the company finally provided the transparency that investors needed to model its growth rate, understand its recurring revenue profile and interpret quarterly results. Koenig tells investors in a research note that he sees Splunk as a bargain given its growth profile and his firm's positive checks on its fundamental momentum. The analyst keeps an Outperform rating on the shares.
11/22/19
MSCO
11/22/19
NO CHANGE
Target $169
MSCO
Overweight
Splunk providing better visibility with new metrics, says Morgan Stanley
Morgan Stanley analyst Keith Weiss said the bounce back in current RPO bookings at Splunk in Q3 speak to the strength in its core business while the company beginning to provide a total annual recurring revenue, or ARR, metric should give investors a clearer picture of underlying growth. The company's FY23 target of about $1B in operating cash flow should also help investors see through the near-term negative impacts of shortening invoice duration, added Weiss, who keeps an Overweight rating on Splunk shares with a price target of $169.
11/22/19
DADA
11/22/19
NO CHANGE
Target $160
DADA
Buy
Splunk price target raised to $160 from $150 at DA Davidson
DA Davidson analyst Andrew Nowinski raised his price target on Splunk to $160 and kept his Buy rating after its "strong" Q3 results and "more importantly" a 53% increased in annualized recurring revenue. The analyst sees this metric as important in gauging the health of a SaaS-based company and sees its rate of growth accelerating, reflecting Splunk's market-leading position and the impact of recent acquisitions.
11/26/19
JMPS
11/26/19
NO CHANGE
Target $155
JMPS
Outperform
Splunk price target raised to $155 from $135 at JMP Securities
JMP Securities analyst Erik Suppiger raised his price target on Splunk to $155 and kept his Outperform rating after its Q3 earnings beat and a 28% increase in billings along with its FY20 guidance range. The analyst maintains his view that Splunk is undervalued, currently trading at an enterprise value to expected 2021 revenue multiple of 6.2-times.

TODAY'S FREE FLY STORIES

PCG

PG&E

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-0.13 (-1.33%)

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SYRS

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ABBV

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ORTX

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SRRA

Sierra Oncology

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RUHN

Ruhnn

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Sierra Oncology

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MGTA

Magenta Therapeutics

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0.3 (2.31%)

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PFE

Pfizer

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0.26 (0.68%)

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Bristol-Myers

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PFE

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BMY

Bristol-Myers

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UMRX

Unum Therapeutics

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  • 07

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MGTA

Magenta Therapeutics

$13.29

0.3 (2.31%)

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AUTL

Autolus Therapeutics

$14.60

-0.18 (-1.22%)

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BMY

Bristol-Myers

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0.435 (0.73%)

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SGEN

Seattle Genetics

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GILD

Gilead

$67.09

1.16 (1.76%)

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CRTX

Cortexyme

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MNK

Mallinckrodt

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  • 07

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STOK

Stoke Therapeutics

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APTO

Aptose Biosciences

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EPZM

Epizyme

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PRNB

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FATE

Fate Therapeutics

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  • 07

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