119.30 +2.37 (2.03%)
After hours: 4:52PM EDT
|Bid||116.85 x 1300|
|Ask||117.00 x 800|
|Day's Range||114.08 - 118.00|
|52 Week Range||83.69 - 143.70|
|Beta (3Y Monthly)||1.78|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 27, 2019 - Dec 2, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||150.02|
The data analytics firm at an event rolled out a number of updates to its data-to-everything platform. President Obama also spoke at the event.
The San Francisco cloud-based data analytics company joins the likes of Salesforce, IBM, Alphabet and a host of other tech companies that have taken similar moves.
IBM's AI platform IBM Watson, its emerging Blockchain technology and expanding security products is aiding it in proliferating the market.
Splunk Inc. (SPLK), provider of the Data-to-Everything Platform, today announced advancements to pricing, partner and investment initiatives designed to help customers make smarter business decisions by turning data into doing. With the Splunk Data-to-Everything Platform, more than 18,000 customers worldwide are unlocking value and bringing data to every question, decision and action.
Splunk Inc. (SPLK), provider of the Data-to-Everything Platform, today announced the launch of Splunk Ventures and two inaugural funds designed to help the next generation of data doers turn data into doing. Through a $100 million Innovation Fund and a $50 million Social Impact Fund, Splunk Ventures is investing in early stage companies that can harness the power of data to change the world. Splunk Ventures is designed to invest in companies that will further drive growth of the technology ecosystem that brings data to every decision, question and action.
Former President Barack Obama and President Donald J. Trump are coming to Silicon Valley this week with different agendas: Trump to raise cash, and Obama to raise awareness about data.
Shares of Splunk Inc. are up 2.4% in Tuesday morning trading after J.P. Morgan analyst Mark Murphy upgraded the stock to overweight from neutral, writing that the stock's price level is now attractive following a drop of about 19% from its July highs. "Subsequent to the material cash flow guide-down announced in August, we view street consensus as largely de-risked at this point," Murphy wrote. "We see potential for multiple expansion as investors start to view Splunk as a recurring/renewable revenue business at scale, aligned to data growth, with a strong competitive position and brand." Murphy has a $130 target price on the stock, which has gained 13% on the year as the S&P 500 has risen 20%.
Analyst Mark Murphy has been bullish on Splunk's fundamentals for at least three quarters, but concern about valuation kept the firm neutral. After a cash-flow guide-down, the `Street consensus [is] largely derisked.'
President and CEO of Splunk Inc (30-Year Financial, Insider Trades) Douglas Merritt (insider trades) sold 13,341 shares of SPLK on 09/12/2019 at an average price of $115.2 a share. Continue reading...
Leveraging its global reach and a team of employees committed to positive social change, the international effort for affordable housing is part of the market-leading data analytics company’s employee-driven Splunk for Good initiative. “In every corner of the world, partners like Splunk help Habitat homeowners achieve strength, stability and self-reliance through shelter,” said Julie Davis, vice president for corporate and cause marketing, Habitat for Humanity. With the help of more than 400 employees, Splunk zeroed in on the global communities in which they have local employees, including Atlanta, Chicago, Dallas, Denver, Hong Kong, London, San Francisco, Seattle, Shanghai, Singapore, Sydney, Tokyo and Vancouver.
As the number of connected devices is only surging, the amount of data being produced is on the rise. Big data companies want to use the massive volume of information to help enterprises gain actionable insights so that they can make more strategic business decisions. Big data refers to massive data sets that are too large or complex to be dealt with using traditional data-processing software. With Verified Market Research stating that the global big data market is expected to increase from $28.95 billion in 2016 to reach $135.22 billion by 2025, it’s no wonder investors are constantly searching for compelling opportunities within this space. That being said, analysts say that some big data stocks are better positioned for long-term growth than others. Thanks to the TipRanks Stock Screener, we were able to narrow in on 3 big data stocks that are backed by Wall Street analysts. Let’s dive in. Alphabet Inc. (GOOGL)Google has made a name for itself as more than just a search engine. With shares up 15% year-to-date, analysts believe that the tech giant could see even more gains thanks to its big data and analytics product offerings.The company’s latest free open-source software tools, released on September 5, focus on differential privacy or the idea of setting a limit on how much you can learn about specific groups of people in big data sets. “The aim of this is to provide a library of primary algorithms that you could build any type of differential privacy solution on top of,” engineering manager Bryant Gipson said.Adding to its big data product lineup, the company also recently unveiled its Cloud Storage Connector specifically designed for Hadoop big data workloads. Hadoop describes the collection of open-source tools that enable a cluster of computers to solve problems involving large quantities of data. Management believes that its product will not only cut costs but will also increase efficiency when compared to a traditional Hadoop Distributed File System (HDFS). GOOGL’s existing big data analytics products, including the data warehouse BigQuery and real-time data processing service Cloud Dataflow, are already hits among customers. Based on its July 25 Q2 earnings release, the Google Cloud segment reached an annual revenue run rate, the measure of how much revenue the business will generate in the next year assuming there aren’t any significant changes, of more than $8 billion. It hopes to further grow Cloud revenue with its $2.6 billion acquisition of data analytics company Looker, which was announced in June. While GOOGL shares are up year-to-date, Jefferies analyst Brent Thill argues that shares are trading at more than 30% discount to value. As a result, the five-star analyst reiterated his Buy rating and $1,500 price target on September 5. He believes shares could surge 24% over the next twelve months.All in all, the Street is on the same page. 28 Buy ratings vs 4 Holds received in the last three months add up to a ‘Strong Buy’ analyst consensus. Its $1,404 average price target implies 17% upside potential. Cloudera Inc. (CLDR) Cloudera provides enterprises with a scalable, flexible and integrated platform that simplifies the process of managing huge amounts of data. While shares are down 52% since its 2017 IPO, some analysts believe the renewed strength of its big data products will put CLDR back on an upward trajectory.The company was able to post $196.7 million in revenue for Q2 fiscal 2020, which surpassed management’s guidance of $180 million to $183 million. Management attributed this beat to improved subscription and services performance. While expenses did increase from the year-ago quarter, it takes into account its 2018 merger with cloud-based big data management company Hortonworks.As a result of this merger, CLDR was able to develop the new Cloud Data Platform. The product is a hybrid-cloud data analytics platform and features its own on-premises data center software as well as Hortonworks’ technologies. Not to mention Cloudera announced the acquisition of cloud-native and AI-driven analytics company Arcadia Data on September 4. The company expects both the acquisition and the Cloud Data Platform to put CLDR back on track to reach its 20% annualized recurring revenue growth goal. It is also interesting to note that notorious investor Carl Icahn’s 12.6% stake in the company was revealed last month. More recently, Icahn purchased over $2 million worth of Cloudera shares on September 9. JMP Securities analyst Patrick Walravens has also just gotten on board. “We see a number of potential catalysts for Cloudera… most importantly, the phased rollout of the new Cloudera Data Platform, the first milestone of which was achieved last week when the public cloud edition was made available to select customers; this should allow Cloudera to begin to participate in the white-hot market for cloud databases, which Gartner estimates reached $10.5B in 2018, up a staggering 87% year-over-year,” he explained. Based on this, the five-star analyst upgraded the rating to a Buy and set a $12 price target on September 5. He sees 37% upside potential for the big data company. In general, Wall Street is cautiously optimistic about CLDR. It has a ‘Moderate Buy’ analyst consensus and a $10 average price target, indicating 13% upside potential. Splunk Inc. (SPLK)It’s no question that the last big data stock on our list has taken a beating recently, with shares down 15% in the last month. That being said, some analysts are telling investors to buy the dip for SPLNK’s substantial upside potential.Based on the company’s August 21 second quarter earnings release, things are already turning around. Splunk posted an earnings and revenue beat as well as raised its full year guidance thanks to the strength of its cloud business. Management stated that it expects virtually all new software sales to be cloud or term license-based by the end of the year. The company is making a significant investment in expanding its cloud-based product offerings with its acquisition of SignalFx. The acquisition of the cloud-based software company will cost SPLK about $1 billion and will allow the company to offer a flexible and secure way to process large volumes of data. “Data fuels the modern business, and the acquisition of SignalFx squarely puts Splunk in position as a leader in monitoring and observability at massive scale,” said CEO Doug Merritt. This is on top of the unified big data analytics solution it already offers that includes analytics for Hadoop, an ODBC driver to enable connectivity between Splunk and other third-party analytics tools as well as integration with traditional relational databases. All of this lends itself to Rosenblatt Securities analyst Yun Kim’s conclusion that the dip presents a unique buying opportunity. With that in mind, the five-star analyst initiated coverage with a Buy and set a $150 price target on September 9. The price target reflects his confidence in SPLK’s 37% upside potential. Wall Street appears to mirror the analyst’s sentiment. SPLK boasts a ‘Strong Buy’ analyst consensus as well as a $154 average price target, suggesting 41% upside from the current share price. Find analysts’ favorite stocks with the Top Analysts’ Stocks tool
Big data is changing the business landscape in which firms are competing, making it a necessity to not only have real-time data transparency but be able to analyze massive data sets to understand your business and your customers.
San Francisco-based Splunk is rapidly beefing up its presence to play in their customers’ shift toward using cloud-based microservices.
High-growth tech stocks can generate exponential returns. However, they have a high beta and can underperform markets by a huge margin in a downturn.
Trading volume in the cloud analytics company's shares has increased on their recent decline, suggesting that sellers are anxious to reduce positions.
Splunk Inc. (NASDAQ:SPLK) shareholders might be concerned after seeing the share price drop 20% in the last month. But...
Identity access management leader Okta (NASDAQ:OKTA) is set to report second quarter numbers after the bell on Wednesday, Aug. 28, and I'm optimistic on OKTA stock ahead of that print.Source: Shutterstock My optimism is rooted in four things. First, Okta's earnings history is stellar. Second, the numbers this quarter look very beatable. Third, peer cloud companies have reported strong numbers over the past month.Fourth, and most importantly, the secular growth narrative underlying OKTA stock is so robust and wide-reaching that, even if the stock sells off in response to Q2 numbers, that sell-off will be temporary. In the big picture, it will be nothing more than an opportunity buy into a long-term winner at a discount.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAs such, I like OKTA stock ahead of earnings. In all likelihood, the company reports strong numbers, and the stock flies higher. In the event that doesn't happen, I'm perfectly comfortable buying the dip, given the strength of this company's secular growth narrative. Either way, I see Okta stock as one for the long run. Stellar Earnings HistoryLet's have a look at the Okta Inc stock stellar earnings history. Indeed, the company's track record is flawless. * 10 Stocks Under $5 to Buy for Fall Okta's first public earnings report was back in June 2017. It was a double beat report, topping Street estimates on both revenue and earnings. Ever since, Okta has racked up nine consecutive double-beats. Not surprisingly, OKTA stock has performed very well during this stretch. Since that first earnings report, the shares are up more than 430%.Coming into tomorrow's earnings report, history is on the bulls' side ahead of the Q2 print. The Numbers Look BeatableThe second big reason to buy OKTA stock ahead of earnings is that the Street numbers look very beatable.In every quarter since going public, Okta has reported revenue growth of 50% or better. That is nine quarters of 50%-plus revenue growth. The Street is looking for less than 40% revenue growth this quarter. Against the backdrop of those nine straight quarters of 50%-plus revenue growth, a sub-40% revenue growth estimate this quarter seems very beatable.To be sure, part of this slowdown is because management guided for it in the last earnings report. But, management has a history of under-promising and over-delivering. That seems especially true this time around, with revenue growth estimates slated at multi-quarter lows.As such, it seems highly likely that -- at the very least -- Okta tops revenue estimates in its Q2 print. Peer Results Have Been StrongThe third reason to buy OKTA stock ahead of Wednesday's earnings is that peer cloud companies have reported strong numbers over the past month, in sum supporting that the secular enterprise cloud transition remains as vigorous as ever.Specifically, over the past month, cloud companies Salesforce (NYSE:CRM), Splunk (NASDAQ:SPLK), ServiceNow (NYSE:NOW), and Twilio (NASDAQ:TWLO) all reported double-beat-and-raise earnings reports. At the same time, hybrid cloud companies Akamai (NASDAQ:AKAM) and Intuit (NASDAQ:INTU) both reported double-beats in the past month, and both cited cloud strength in their earnings report.Also of note, cloud infrastructure giants Microsoft (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOGL) both reported double-beat quarters recently, with cloud strength at the epicenter of both beats.Net net, the takeaway is that the secular enterprise cloud transition remains as vigorous as ever, despite slowing economic growth around the world. Okta makes its living off this transition. As such, so long as it remains vigorous, Okta's numbers should remain favorable. Secular Growth Narrative is RobustThe fourth big reason to buy OKTA stock ahead of earnings is that the secular growth narrative here is so good that any post-earnings sell-off will likely be nothing more than a buying opportunity.Okta has created an innovative solution at the convergence of the cloud and cybersecurity worlds. Specifically, the company has developed what management calls the Identity Cloud, which is an identity-based cloud security solution which enables customers and employees alike to securely log into multiple applications using just one log-in. This solution is high adaptive, highly secure, and very convenient for enterprises -- which are sometimes adopting several new software systems every month. * 10 Undervalued Stocks With Breakout Potential Because of these advantages, Okta's Identity Cloud solution has gained significant traction in the cloud security world over the past several years. It will continue to gain traction over the next several years, too. At the same time, the whole cloud security solution market will expand dramatically, driven by more enterprise workloads migrating to the cloud and enterprises spending more money to protect and secure those workloads.As such, Okta projects as a market share gainer in a secular growth industry for the next several. That implies big revenue growth for a lot longer. Gross margins are north of 70%. Opex rates will fall with scale. Over the next few years, Okta projects as a big time profit grower -- and all that profit growth should propel OTKA stock meaningfully higher. Bottom Line on OKTA StockOkta should report strong second quarter numbers after the bell on Wednesday. Those better-than-expected numbers should be good enough to spark a nice post-earnings rally in OKTA stock.But, even if that doesn't happen, any post-earnings sell-off in OKTA stock will most likely just be a buying opportunity, since the secular growth narrative here implies that OTKA stock is a long-term winner.As of this writing, Luke Lango was long OKTA, SPLK, and GOOG. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 "Boring" Stocks With Exciting Prospects * 15 Cybersecurity Stocks to Watch as the Industry Heats Up * 5 Healthcare Stocks to Buy for Healthy Dividends The post 4 Reasons to Like Okta Stock Ahead Of Tomorrow's Earnings Report appeared first on InvestorPlace.
We're looking at the biggest stock movements on August 26. Roku (ROKU), Beyond Meat (BYND), Splunk (SPLK), and Cree (CREE) were the big market movers.