|Bid||149.71 x 900|
|Ask||149.78 x 1800|
|Day's Range||147.00 - 150.69|
|52 Week Range||90.08 - 152.68|
|Beta (3Y Monthly)||2.08|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Splunk jumped Monday, clearing a 143.80 buy point from a consolidation going back to March 1. The Big Data and security software firm surged 11% on Friday following strong earnings/guidance. Has had some failed breakouts.
Nov.22 -- Doug Merritt, Splunk Chief Executive Officer, talks about the data-software company's strong third-quarter results. Revenue beat the highest analyst estimate. He talks to Taylor Riggs on "Bloomberg Technology."
The best mutual funds invested over $1 billion in Alibaba stock, and took large stakes in several other market leaders, including Microsoft, Splunk and CVS.
We are now at the very end of the third-quarter earnings season, with roughly 98% of S&P 500 companies having reported their Q3 numbers so far.The results have been broadly positive. Sure, third-quarter earnings per share dropped more than 2% year-over-year. But, trade war pressures and slowing economic activity were supposed to cause an even steeper slowdown. Indeed, about three-fourths of S&P 500 companies reported Q3 profits that were above expectations.Meanwhile, revenues largely came in above expectations, too, and rose about 4% year-over-year. Management teams also sounded a cautiously optimistic tone that profit margins would improve going forward with easing trade tensions. Consequently, the outlook is for this earnings slowdown to end soon, and turn into big profit growth in 2020.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBecause of all these positive developments, stocks have surged higher this earnings season. Companies started reporting third-quarter numbers around early October. Since then, the S&P 500 has rallied 6% to all-time highs, marking one of its most impressive earnings season rallies in recent memory.Which stocks led this earnings season rally? More importantly, which of these winners can continue to grind higher in 2020?Let's answer those questions by taking a closer look at seven strong stocks to buy that won big this earnings season, and will keep winning big into 2020. Strong Stocks to Buy: Target (TGT)Source: jejim / Shutterstock.com One stock which had a particularly good third-quarter earnings season is U.S. general merchandise retailer Target (NYSE:TGT).In late November, Target reported impressive Q3 numbers which topped revenue, comparable sales, digital sales, margin and profit expectations. Management also hiked its full-year 2019 guide, while providing an above-consensus holiday quarter guide. In sum, the report affirmed that Target is not a "one hit wonder." Instead, this company is leveraging strategic growth initiatives to sustain big growth and margin improvements.All of this will persist into 2020 for a few reasons. First, the macroeconomic retail backdrop is improving. Trade tensions will ease. Consumer confidence will rebound. Spending trends will pick up, while tariff pressures will back off. Second, Target's e-commerce business is still relatively small, while omni-channel buildout is still in its early stages. In 2020, both of these verticals will sustain strong growth through geographic expansion. Third, Target's new smaller format stores are running at much higher gross margins than the larger format stores, and Target plans to open a bunch of these smaller format stores in 2020. Fourth, wage pressures should be offset by technology investments.Target will sustain big revenue growth and margin expansion in 2020. As it does, TGT stock will sustain its upward momentum, because shares remain reasonably valued at less than 20-times forward earnings. Splunk (SPLK)Source: Michael Vi / Shutterstock.com Shares of data analytics service provider Splunk (NASDAQ:SPLK) surged in the third quarter after the company reported strong numbers which broadly underscored that the company's new Data-to-Everything platform is in the first innings of a big growth ramp.Long story short, Splunk recently launched its Data-to-Everything platform. It is basically an all-in-one enterprise ecosystem where companies can turn data of all sorts into actionable insights. Splunk hopes that this new platform will become a must-have service in every office. Early demand trends support that dream. In the third quarter of 2019, strong early demand for the Data-to-Everything platform powered above-consensus revenue and profit growth.Considering the world we live in today -- one which is flooded with data and dominated by data-driven decision making -- it is highly likely that Splunk's Data-to-Everything platform continues to grow rapidly in 2020. Rapid growth from this platform will power a string of double-beat-and-raise earnings report in 2020.The sum of these strong earnings reports, coupled with broadly bullish investor sentiment thanks to easing U.S.-China trade tensions, should keep SPLK stock on a winning path. Best Buy (BBY)Source: BobNoah / Shutterstock.com Target wasn't the only retailer that reported strong third-quarter numbers at the end of November. Electronics retailer Best Buy (NYSE:BBY) did, too.Specifically, Best Buy's third-quarter revenues, comparable sales, margins and profits all came in above expectations. Management also raised its full-year guide and delivered an above-consensus fourth-quarter guide on both the revenue and margin fronts. Of importance, Best Buy appears to be sustaining strong revenue growth momentum thanks to ever-increasing demand in the consumer electronics space, while simultaneously keeping costs down and turning that strong growth into healthy profit margin expansion.This favorable dynamic should persist in 2020. Over the next twelve months, the consumer electronics space will boom thanks to a plethora of tailwinds. You have the big 5G push, and the launch of several new 5G smartphones, including a 5G iPhone. You also have the introduction of cloud gaming consoles like Stadia, and the release of a new generation of Xbox and PlayStation consoles. There's also a big streaming push unfolding with Disney (NYSE:DIS), AT&T (NYSE:T) and Comcast (NASDAQ:CMCSA) all entering the streaming wars. This push will naturally increase demand for streaming devices, which can be found at Best Buy.All in all, 2020 is shaping up to be a pretty good year for Best Buy. Healthy revenue growth and margin expansion should persist. As it does, BBY stock should keep climbing higher, especially since shares remain dirt cheap at just 13-times forward earnings. Facebook (FB)Source: TY Lim / Shutterstock.com Global internet giant Facebook (NASDAQ:FB) reported third-quarter numbers in late October that breezed past expectations and underscored that this stock can (and will) head way higher over the next 12 months.Third-quarter revenues and profits topped expectations. User growth trends remained healthy, with the user base sustaining 8%-9% year-over-year growth. Revenue growth trends also remain healthy, with revenues yet again rising in the 30% range. Expense growth moderated significantly. Operating margins, which have been getting wiped out by big data-security investments, dropped just one point year-over-year.Zooming out, Facebook's third-quarter numbers underscored that this company is past the Cambridge Analytica scandal, and that the company survived that scandal largely unscathed. User engagement, ad demand and revenue growth all remain robust. The only casualty? Profit margins. And those are already bouncing back.In 2020, everything will only get better for Facebook. Ad revenue growth will remain strong behind advertising real estate expansion on Messenger and WhatsApp, as well as heavier ad usage in Instagram and Facebook Stories. The e-commerce business will gain strong early momentum behind Facebook Pay and Instagram Shopping. Margins will improve as big data-security investments phase out, and big revenue growth drives positive operating leverage.Facebook will get back to 20%-plus revenue and profit growth in 2020. As it does, FB stock -- which trades at just 23-times forward earnings -- will run higher. Stage Stores (SSI)Source: Shutterstock The hottest and perhaps least well-known stock on this list is small department store operator Stage Stores (NYSE:SSI). But, investors shouldn't be intimated by the stock's 630% year-to-date gain (yes, you read that right). Nor should they be scared by the company's small size and relative obscurity.Instead, Stage Stores' third-quarter numbers confirm that investors should both embrace the recent red-hot rally in SSI stock and the fact that not many people know about the huge transformation playing out here.Long story short, Stage Stores has been getting killed by Amazon (NASDAQ:AMZN), Walmart (NYSE:WMT), Target and a plethora of others, because the company has lacked the resources to compete in the full-price channel with these deep-pocketed retail giants. Amid this slaughter, Stage Stores bought off-price retailer Gordmans in 2017. It was a footnote that didn't stop the bleeding. But, management started to notice that while their full-price Stage Stores locations were struggling, their off-price Gordmans locations were doing quite well.So, in 2019, management committed to turning Stage Stores into an off-price retail giant. That is, they are closing some underperforming Stage Stores locations, and converting the rest to off-price Gordmans locations, so that by the end of 2020, the entire store portfolio will be off-price.Early data from this transition is promising. In the third quarter, Stage Stores converted 17 department stores to Gordmans off-price. Not coincidentally, comparable sales rose a whopping 17%.This transition is still in its early days. By year end, Stage Stores projects to have 158 off-price locations. By the end of 2020, it will have 700. Thus, the bulk of the transition won't happen until 2020. That means the bulk of the financial benefits won't show up until 2020 or 2021. Considering SSI stock still trades at a rather lousy 0.1-times trailing sales multiple, that also means that the bulk of the SSI stock rally is still to come. PayPal (PYPL)Source: JHVEPhoto / Shutterstock.com Shares of global digital payments platform PayPal (NASDAQ:PYPL) soared this earnings season on strong third-quarter numbers which broadly underscored that this company's growth narrative remains as robust as ever.Specifically, in late October, PayPal reported yet another double-beat earnings report. But, that wasn't the impressive part. The impressive part was that PayPal sustained huge growth across all of its important metrics, despite the slowing economic backdrop. Total payment volume growth yet again exceeded 25%. Account growth again exceeded 15%. Engagement growth hit nearly 10%. Revenue growth was roughly 20%, and operating margins expanded … again.In other words, everything at PayPal is firing on all cylinders, despite slowing economic growth. In 2020, that slowing economic growth will turn into rebounding economic growth, as trade tensions ease and capital spending trends rebound. This rebound in economic activity will add more firepower to an already red-hot PayPal growth trajectory. So will further ramp in Venmo, which is quickly turning into a must-have consumer payments ecosystem.The result? PayPal's volumes, accounts, revenues, margins and profits will all sustain big growth in 2020. As they do, PYPL stock -- which remains undervalued relative to its growth prospects -- will run higher. Apple (AAPL)Source: View Apart / Shutterstock.com Consumer technology giant Apple (NASDAQ:AAPL) had a strong showing this earnings season, and that strong showing added credibility to the idea that the company could be in store for a big 2020.The story at Apple has been a simple one. For the past decade, the company has been hyper-focused on selling hardware products to consumers around the globe. That hardware business has been slowing because of market saturation issues. In order to combat that slowing growth, Apple has built out a series of subscription software businesses to more deeply monetize its huge install base.In other words, Apple has gone through eras of big hardware growth and eras of big software growth. But, the company has yet to experience an era of both big hardware and big software growth together.Until now. Apple's most recent earnings report showed that the software business remains hot, while revenue declines in the hardware business are moderating. That red-hot software business will get even hotter in 2020, as new services like Apple TV+ and Arcade gain mainstream traction. Meanwhile, the stabilizing hardware business will start growing again, sparked by big upgrade demand, lower-priced new iPhones and a 5G iPhone in late 2020.In the big picture, then, Apple is entering a golden era in 2020 wherein both its software and hardware businesses will grow together. This collaborative growth should continue to power AAPL stock to new highs.As of this writing, Luke Lango was long BBY, T, FB, SSI, WMT, PYPL and AAPL. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Hot Stocks for 2020's Big Trends * 7 Lumbering Large-Cap Stocks to Avoid * 5 ETFs for Oodles of Monthly Dividends The post 7 Strong Stocks to Buy That Won Q3 Earnings appeared first on InvestorPlace.
Amid an overall bull market, many stocks that smart money investors were collectively bullish on surged through the end of November. Among them, Facebook and Microsoft ranked among the top 3 picks and these stocks gained 54% and 51% respectively. Our research shows that most of the stocks that smart money likes historically generate strong […]
Splunk, which is trading near record highs, was upgraded to a buy and received a price target increase on a view that new pricing models and a recent acquisition will boost revenue growth.
With fundamentals improving, the time has come to get bullish on (SPLK)(SPLK) stock, Goldman Sachs analyst Christopher Merwin asserts in a research note Monday. The Goldman analyst writes that he is “encouraged by several recent developments” at the company. For one, he notes that Splunk has revised its revenue model to move away from metered pricing to one based on use cases, “allowing customers that were previously wary of ballooning costs on Splunk to open up more data for use on the platform.” Also, he notes that the company like many other software providers has begun reporting annualized recurring revenue (ARR), which at 53% growth in the latest quarter was ahead of expectations.
Shares of Splunk Inc. are up 2.7% in premarket trading Monday after Goldman Sachs analyst Christopher Merwin upgraded the stock to buy from neutral. He is upbeat about the company's new pricing strategy, which in his view "decouples revenue from indexed log volume and instead charges by use case, allowing customers that were previously wary of ballooning costs on Splunk to open up more data for use on the platform." He also argued that Splunk's decision to start reporting annual recurring revenue will provide more clarity to investors, and he thinks the company's free-cash forecast through fiscal 2023 helps "de-risk" Splunk's story as the company finishes its transition away from perpetual licenses. "Lastly, we see catalysts for over-delivery in the coming quarters, not only due to the benefit of the pricing change, but also from the recently-acquired SignalFX, which we estimate could contribute $84 million to revenue next year," Merwin wrote. He boosted his price target to $180 from $147. Splunk shares have increased 21% over the past month, as the S&P 500 has gained 2.4%.
Splunk is gently lower Monday even after analysts at Goldman Sachs turned bullish on the stock, upgrading the data-analysis-software company to buy from neutral and raising their price target to $180 a share from $147. Goldman's bullish turn was sparked by the company's updated pricing model, which charges by use, enabling customers to choose differently priced services. Secondly, Splunk switched its accounting standard to annual recurring revenue, a more widely used standard, from ASC 606.
Founded back in 1979, when it acted as a floor broker on the New York Stock Exchange, Rosenblatt Securities has grown and adapted, becoming a major figure in the agency brokerage niche and the largest single broker on the NYSE floor. Analytics and research are key to success in investment banking and floor trading. After all, it’s impossible to know the right market moves without knowing what’s happening behind the scenes of potential equity investments. Rosenblatt’s market research arm delves into the depths, finding out what makes stocks tick, so the firm’s clients can make the best-informed decisions.Today, we’ll look at Rosenblatt’s annual report, entitled "Our Top Core Holdings Ideas to Celebrate Rosenblatt's 40th Anniversary," to outline the firm's ‘top picks.’ These stocks picked out by top-rated analysts and investors should take note.Specifically, we'll take a look at three stocks that are more purely tech-oriented, that have changed the game in their particular niches, and brought impressive gains to investors. Adding to the good news, TipRanks’ Stock Screener shows that each has racked up enough analyst support in the last three months to earn a “strong buy” consensus rating.Let's take a closer look and see why these stocks truly are top picks:Splunk (SPLK)As if to underscore the importance of data analysis, Splunk is first on our list here. This San Francisco-based software company offers products that monitor, search, and analyze the machine generated big data, indexes and correlates the results, and makes the whole available to customers through a browser-style interface. In short, Splunk makes it easy for its customers to use all of their accumulated information. In recent years, Splunk has also begun offering software products for security analytics and Internet of Things applications.Businesses need Splunk’s products, and that need has powered Splunk’s success. The company’s EPS, at 58 cents, beat the estimate by a significant margin and was also 52% higher than the year-ago quarter. Revenues were strong, too, and at $602 million showed a 29% year-over-year gain. With fast growth rates like those, you won’t be surprised to learn that SPLK is up 44% in 2019.5-star Rosenblatt analyst Yun Kim reviewed SPLK and came away deeply impressed. In a list of reasons to own shares in the company, he wrote, “[Splunk is the] emerging de facto enterprise standard in IT, along with the likes of CRM, ORCL, SAP and MSFT... It is at the foundation of the current data-driven digital transformation secular trend… We also note that SPLK closed 24 $10M+ deals last year and 10 such deals two years ago, indicating more of its customers are adopting SPLK as its enterprise standard.”A growing industry consensus that Splunk is the way forward for data aggregation, combined with an increasing number of major sales, led Kim to give SPLK a Buy rating and a $200 price target – suggesting an impressive 32% upside. (To watch Kim's track record, click here)Kim’s bullish stance on Splunk is in line with Wall Street’s view. SPLK has a Strong Buy consensus rating, based on no less than 25 Buy ratings set in recent weeks. Shares are trading for $149.37, and the stock’s recent strong gains have pushed that price close to the average price target of $158.43, leaving a modest 6% upside. If Splunk continues to perform, expect the analysts to adjust the target upwards. (See Splunk stock analysis on TipRanks)PayPal (PYPL)PayPal’s impressive growth has been powered by its domination of the payment processing niche. The company has turned digital payments into the preferred method for online transactions, helping move along the dramatic expansion of e-commerce in recent years. The rewards have been substantial: in fiscal 2018, PayPal saw more than $15 billion in revenues, and over $2 billion in net profits. For 2019 the stock has gained 28%, even after slipping from its peak price in July. This gives PayPal a 3-point advantage over the S&P 500’s year-to-date growth.A look at the company’s Q3 report will show some details of the growth. Total payment volume, a key metric of the value of transactions put through PayPal’s system, rose to $178.67 billion, growing 25%. Revenue was up 19% to $4.38 billion, and EPS showed an 8% year-over-year gain to 39 cents. But the best news for investors was the revision to full-year 2019 EPS. The company bumped it up to $3.07, 3.3% higher than the Street’s expectations. Growth in every metric, and plenty of share price appreciation make PYPL a winner for investors.5-star Rosenblatt analyst Kenneth Hill sees room for an additional 18% upside in PYPL shares. Hill points out several of PayPal’s positional advantages: “Best-in-class, two-sided ecosystem with PayPal’s and Venmo's more than 275mn active Consumer accounts and 24mn Merchant accounts… Clear path ahead to increasing Venmo monetization from Pay with Venmo and Venmo Debit/ Credit, in addition to Instant Transfer… Long-term potential to be a first mover in Asia… complimenting efforts in Europe and Latin America…”Hill sees PayPal with a strong competitive advantage, and puts a $128 price target on the stock to compliment his Buy rating. (To watch Hill's track record, click here)Wall Street generally agrees with Hill. PayPal’s Strong Buy consensus rating is based on 22 Buys, and only 3 Holds. The average price target, $125.86 suggests that PYPL still has room for 16% growth. (See PayPal stock analysis on TipRanks)RingCentral (RNG)The emergence of cloud computing has brought sea-changes to every imaginable niche in the business world. RingCentral has connected it to the world of communications, providing software solutions to combine office computer and telephone systems. The company’s core product, RingCentral Office, is compatible with other popular applications like Salesforce, Outlook, Google Docs, and DropBox, while providing unique features in call forwarding, multiple telephone extensions, video conferencing, and screen sharing. In short, RingCentral lets customers link and control all of their office communication systems.In Q3, RingCentral posted EPS of 22 cents, beating both the analyst consensus and the year-ago number by 15%. The company’s stock has surged in recent months, bringing its year-to-date gain up to 108% – RNG has more than doubled in value in 2019, and the year’s not over yet. A couple of additional numbers from the recent quarter make it clear why RNG has gained so much. The company’s software subscription increased 33% year-over-year, to reach $210.9 million, while revenues grew to $233.4 million. And while the company was posting this growth, it was also boosting R&D expenditures by 30%.Analyst Ryan Koontz wrote up Rosenblatt’s note on RingCentral, summing up the bottom line in a clear, bullish stand. He wrote, “While RingCentral’s products are strong and arguably the best in the industry, we are most impressed with RingCentral’s commanding go-to-market strategy and execution. The company has built an industry leading team... RingCentral is the largest UCaaS vendor in the market and has continued to take share, growing revenues faster than all of its major competitors.” Koontz was especially cognizant of RingCentral’s new strategic partnership with Avaya, a leader in contact center technology. The joint endeavor was announced this past October and has generated great excitement in the industry.Koontz puts a $210 price target on RNG shares, implying a 22% upside to the stock. Wall Street is in general agreement with his stance, although more conservative on the price target. RNG’s Strong Buy analyst consensus is built from 14 Buy ratings and a single Hold, while the $186 average price target is 8.6% higher than the current $171 share price. (See RingCentral stock analysis on TipRanks)
Should investors consider buying struggling Slack stock before it reports its Q3 fiscal 2020 financial results on Wednesday, December 4 amid Microsoft competition?
Which stocks represent the most compelling investments? This is the million-dollar question for investors. Well, we say million, but that’s possibly for millionaires. For us mere mortals, it is probably the ‘few thousand-dollar question.'We all know by now that 2019 has been a record-breaking year, with the S&P 500 breaking its own record multiple times, so it gets harder to know which stocks offer good value after such a sustained rally.TipRanks’ Stock Screener is one way to get the lowdown, as it has a variety of filters, including upside potential, analyst consensus, and investor sentiment in which to gauge the market’s sentiment about any given stock.So, we put our virtual detective hat on, and using the tools at our disposal dug out 3 Buy-rated stocks, all with potential for some serious gains ahead. Let’s take a closer look.Ooma (OOMA)Things are looking up for Ooma, the free internet phone service provider. The Sunnyvale, California based telecom company offers Voice-over-IP (VoIP) calling using an Internet connection for small businesses, homes and mobile users.Ooma took the Street somewhat by surprise with its FQ3 earnings report, beating the estimates on several metrics. Along with revenue and EPS beats, year-over-year revenues grew by 21%, with its business service leading the way with 67% growth. Ooma also reported positive FQ4 guidance, which the company thinks will be around $40 million, $1 million higher than the Street’s initial estimate.The communications platform recently launched Ooma Office Pro, a small business phone service offering various premium features. This comes alongside Sprint’s launch of its cloud-based commercial phone service, Omni, which is powered by Ooma Office. Sprint is the fourth-largest mobile network operator in the United States.B.Riley FBR’s Josh Nichols thinks these developments are significant, with the 4-star analyst noting, “We believe these new offerings represent a significant opportunity for Ooma to expand its addressable market by leveraging Sprint’s large sales network and increasing ARPU through Ooma Office Pro premium pricing. Ooma is seeing success with the large business customer secured in F2Q20 and management expects to add a significant number of users in 4Q with the potential for the cadence to continue into FY21.”Nichols reiterated a Buy rating on OOMA stock, while slightly raising his price target from $20.50 to $21.50. This implies ample upside potential of 60% from its current price. (To watch Nichol’s track record, click here)All in all, TipRanks shows the bulls are on Ooma’s side. Out of the 6 analysts that issued ratings in the last 3 months, 4 are bullish and rate it a Buy, compared to 1 Hold and 1 Sell. Significantly, the 12-month average price target of $18.88 suggests over 40% upside potential. (See Ooma stock analysis on TipRanks)Uber Technologies (UBER)Transport disruptor Uber has experienced one hell of a face melting ride down the charts since its May IPO. Losing almost 30% of its value and dealing with negative investor sentiment concerning whether the ride sharing pioneer has what it takes to make its business profitable in the long run. All this was exacerbated by the recent end to the lock up period – the date when early investors can finally sell their shares - which exerted further downward pressure on Uber’s share price.One person who evidently thinks the company has the wherewithal to flourish is CEO Dara Khosrowshahi, who recently purchased 250,000 shares at a price of $26.75. Uber share price’s record low is $25.58, so Khosrowshahi possibly thinks the bottom is in, or at least, very close to it.SunTrust Robinson’s 5-star analyst Youssef Squali thinks so too. Citing Uber Rides, in particular among the growing Uber portfolio, as “a great business”. Noting its strong category position (first or second in most markets where the service is available), secular tail winds powering growth, and robust margin profile as among factors to drive the company forward.Squali said, “We believe Uber is a compelling growth story, built to compound at scale over the next decade and beyond. We see powerful, enduring secular trends driving robust growth across Transportation-as-a-Service segments. We believe Uber’s industry leading scale, technology and platform approach will enable it to capture and defend a disproportionate amount of the associated financial benefit.”To this end, the top-rated analyst reiterated a Buy on Uber along with $56.00 price target, which indicates almost 90% upside from its current price. (To watch Squali’s track record, click here)Is the bottom in for Uber? The rest of the street seems to think so. 21 Buy ratings and 5 Holds received in the last three months amount to a Strong Buy analyst consensus. Alongside the positive sentiment, its $46.35 average price target puts the upside potential at almost 58%. (See Uber stock analysis on TipRanks)Splunk (SPLK)The onomatopoeically named Splunk, is a big data analytics company, providing businesses with the tools to get insights from masses of data. Companies can then use the data to make better business decisions to improve and streamline their operations.Although there are several other operators in the field, part of Splunk’s modus operandi has been to acquire other fast evolving companies like itself, specifically ones which suit its game plan. The fast -growing tech company has been on a shopping spree over the last few years, and only last month completed the $1.05 billion acquisition of cloud monitoring service, SignalFx. The company has steadily evolved from one offering big data services into one providing full-on IT modernizing tools, comprehensive business analytics, and cyber security solutions.Still, all the growth hasn’t come without growing pains. Following a disappointing F2Q, Splunk’s share price took a beating. The underwhelming results were partly due to the costs involved with shifting its business from a license-based model to a subscription based one. The turnaround, though, has been impressive. Following strong F3Q results which easily beat estimates, the data cruncher has now raised its revenue guidance for Q4 from $780 million versus the Street’s $768 million estimate.The optimism is reflected in the Street too, as Splunk’s share price has risen nearly 30% in the last month.The growth has not gone unnoticed by 5-star Rosenblatt analyst Yun Kim, who wrote, “In our view, SPLK is emerging as a de facto standard in the infrastructure and security management platform market, which positions the company well for the next stage of growth. As the infrastructure and security software market becomes increasingly data-driven, we see accelerated adoption of SPLK’s data-driven platform within large organizations to better manage and secure increasingly complex hybrid IT environments with disparate technologies. We expect its large deal activity to show faster growth, as more organizations adopt SPLK as their next enterprise standard in IT.”According to Kim, there is still more room for growth. The analyst reiterated a Buy rating on SPLK along with a price target of $200, implying an increase of 35% from SPLK’s current price. (To watch Kim’s track record, click here)It seems the Street is on Kim’s side with this one. 24 Buys, 3 Holds, and 1 Sell assigned in the last three months to Splunk add up to a ‘Strong Buy’ consensus. Its $158.56 average price target indicates 7% upside potential. (See Splunk stock analysis on TipRanks)
Splunk Inc. (NASDAQ: SPLK), provider of the Data-To-Everything Platform, today announced its participation in two upcoming investor conferences.
On Monday, Splunk reached a key technical benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 89, up from 72 the day before. When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength.
Splunk shares touched a record Monday after a report by Argus Research renewed acquisition talk regarding the San Francisco data-analytics provider.
Splunk saw its IBD SmartSelect Composite Rating jump to 96 Monday, up from 93 the day before. Splunk is currently forming a consolidation, with a 143.80 buy point. Splunk holds the No. 1 rank among its peers in the Computer Software-Database industry group.
On Wednesday, investors were introduced to some volatility as trade-war worries escalated. However, those fears didn't follow through much on Thursday or Friday, as the indices were relatively calm. Here's a look at a few top stock trades to get ready for next week. Top Stock Trades for Tomorrow No. 1: Gap (GPS)Source: Chart courtesy of StockCharts.comAfter earnings yesterday, Gap (NYSE:GPS) started today's trading by dropping, but the stock rebounded and moved higher on Friday.By rebounding in the manner that it did, GPS stock cemented a level of support worth keeping an eye on. That comes into play at $16. That was roughly the low from Thursday, too, and a look at the daily chart reveals the significance of this mark over the past few months.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBulls who are long GPS need to see shares hold up over this mark. Below can usher in more selling, potentially down to the 52-week low. * 7 Companies Using Artificial Intelligence to Outperform the Market On the upside, the 50-day and 100-day moving averages are current resistance. Above those marks and a run to $19 is possible. Top Stock Trades for Tomorrow No. 2: Tesla (TSLA)Source: Chart courtesy of StockCharts.comHow interesting has Tesla (NASDAQ:TSLA) been in 2019? On Thursday evening, the automaker introduced its new pickup, the Cybertruck. To say the reviews have been mixed so far would be putting it kindly.With less than an hour left in the session, shares were down more than 6%. Above is a weekly chart, which does not show the 20-day moving average. However, if it were shown above, you'd see TSLA stock knifing through this mark at $335.65.If bulls can reclaim this mark and stabilize the stock price, then perhaps a rebound can ensue. Over $360 puts $380 on the table. However, this stock went up $100 per share in just a few weeks -- an unwind should be expected to some degree.If we get a larger pullback, it's important to give TSLA stock time to settle down and see where support comes into play. Is that near former channel resistance (purple line)? How about around $310, a post-earnings consolidation zone?There are too many question marks with this chart, but one thing is clear: Tesla stock made a pivotal move on Friday, and that means it needs time to digest that move. Top Stock Trades for Tomorrow No. 3: Splunk (SPLK)Source: Chart courtesy of StockCharts.comSplunk (NASDAQ:SPLK) stock is exploding higher, up about 10% after better-than-expected earnings. However, shares are running into a tough area of resistance.This mark comes into play between $140 to $142.50. Over this mark and SPLK stock can break out. Should resistance hold steady, we need to see where SPLK stock firms up on a pullback.Below Friday's low and a move down to $128 is possible. Let's see if we can get a shallow pullback and/or a sideways consolidation before pushing through resistance. Top Stock Trades for Tomorrow No. 4: J.M. Smucker (SJM)Source: Chart courtesy of StockCharts.comIn September, J.M. Smucker (NYSE:SJM) broke out over downtrend resistance (blue line). However, that didn't kickstart a huge bullish breakout. Instead, shares continued to tread water until reporting earnings on Friday.The move initially sent shares up to $113, launching the stock over another downtrend resistance mark (purple line) and all of its major moving averages. Man, it looked like a powerful move was being made.However, SJM stock couldn't stick the landing, giving up a bulk of its gains on the day. Over the 200-day moving average and SJM is a "cleaner" long than it is down here. Below the 50-day moving average and $102 support is on deck.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Companies Using Artificial Intelligence to Outperform the Market * 7 Earnings Reports to Watch Next Week * 6 Retail Stocks Dropping Hard Ahead of Black Friday The post 4 Top Stock Trades for Monday: GPS, TSLA, SPLK, SJM appeared first on InvestorPlace.
The surge after the third-quarter report marks a reversal of fortune from one quarter earlier, when Splunk stock suffered a sharp decline on disappointing results and worries about shrinking cash flow.
(SPLK)stock was trading on better-than-expected results for the company’s fiscal third quarter, as well as fourth-quarter guidance that exceed current Wall Street expectations. The data analytics company (ticker: SPLK) posted third-quarter revenue of $626 million, up 30% year over year, and ahead of the Wall Street analyst consensus at $604.1 million.
Nordstrom led a retail rally, StoneCo surged and Chevron boosted the Dow Jones today as stocks advanced during a pause in U.S.-China trade tension.
Benzinga Pro's Stocks To Watch For Friday Tesla (TSLA) - Shares were down about 3% to under the $350 level following Thursday evening's unveiling of the company's new pickup, the Cybertruck. Uber (UBER) ...
Dow Jones futures: The Tesla cybertruck event is underway with Tesla stock in a buy zone. Ross Stores, Pure Storage, Splunk were earnings movers.