|Bid||0.00 x 800|
|Ask||119.87 x 900|
|Day's Range||108.88 - 120.55|
|52 Week Range||93.92 - 176.31|
|Beta (5Y Monthly)||1.73|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 20, 2020 - May 24, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||156.09|
Splunk Inc. (NASDAQ: SPLK), provider of the Data-to-Everything Platform, today announced the next release of SignalFx Microservices APM™, the only application performance monitoring (APM) solution that provides customers complete observability into modern, cloud-native environments to produce meaningful business outcomes regardless of scale. The new release of SignalFx Microservices APM combines the NoSample™ full-fidelity tracing, open standards based instrumentation, and artificial intelligence (AI)-driven directed troubleshooting from SignalFx and Omnition into a single best-in-class solution.
Investors in Splunk Inc. (NASDAQ:SPLK) had a good week, as its shares rose 10.0% to close at US$125 following the...
The COVID-19 pandemic has impacted companies, their financials and spending plans, and the software sector is no exception. An analyst at Rosenblatt Securitiessingled out a few companies that could weather the adversity better than others.The Datadog, Splunk, Zscaler Analyst Analyst Yun Kim has Buy ratings on the shares of Datadog Inc (NASDAQ: DDOG) and Splunk Inc (NASDAQ: SPLK). The analyst has a $61 price target for Datadog and $200 price target for Splunk.Kim has a Neutral rating on Zscaler Inc (NASDAQ: ZS) with a $58 price target. Takeaways On Software The software industry is seeing increasing number of project cancellations and delays, putting pressure on the budget that was already allocated to new IT initiatives that have yet to kick off, Kim said in a Thursday note. (See his track record here.)The pace of new IT initiatives is likely to slow for the remainder of the year, which in turn will have a direct impact on new software purchases, the analyst said. There are also signs of sales cycle lengthening as buyers begin to scrutinize all deals, he said. Kim forecast a delay in some key sales processes such as ROI analysis, use case prototyping and presentation to key stakeholders, affecting the sales velocity of deals in the pipeline."Hence, we believe these additional factors that lengthen the sales cycle could put additional pressure on deal flow in 2H of the year for software vendors."Kim identified some exceptions to the looming spending headwind for software companies.See also: 10 Software Top Picks For 2020: Do You Own Them? Analyst Says Zscaler Strategically Positioned The firm is of the view that Zscaler is the clear beneficiary of the work-from-home trend and a broader virtualized work environment adoption theme, Kim said.These trends will lead to increased usage of cloud, especially by organizations that have adopted Office365, the analyst said. "In our view, ZS's value proposition of providing security for remote users at a reduced cost strategically positions the company at the top of the spending priority at almost all organizations in light of COVID-19." Rosenblatt expects a typical sales cycle of three to nine months for new customers looking to deploy Zscaler. Increased Cloud-Based Workloads Benefit Datadog, Splunk Cloud infrastructure management vendors are likely to get a shot in the arm from the acceleration in the ongoing secular trend around new workloads and data migration to the cloud, Kim said.The need to monitor performance and troubleshoot any issue will likely become a key priority, the analyst said. Datadog and Splunk are two vendors in Rosenblatt's coverage universe that will likely benefit from the trend, he said. The analyst also noted that these two vendors are the most common technology stack found on Amazon.com, Inc.'s (NASDAQ: AMZN) AWS and Microsoft Corporation's (NASDAQ: MSFT) Azure.Datadog, Splunk, Zscaler Price Action At last check:Datadog shares were trading 1.08% higher to $34.67. Splunk shares were trading down 3.68% at $124.39. Zscaler shares were down 0.94% at $59.98. Related Link: Why Salesforce Is This Firm's Best Idea Latest Ratings for ZS DateFirmActionFromTo Mar 2020BTIGAssumesNeutral Mar 2020Morgan StanleyMaintainsUnderweight Feb 2020BairdMaintainsOutperform View More Analyst Ratings for ZS View the Latest Analyst Ratings See more from Benzinga(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Splunk technology is designed to investigate, monitor, analyze and act on data at any scale, from any source over any time period. QCI, an industry leader in the development of “quantum ready software” with deep experience developing applications and tools for early quantum computers, focuses on abstractions that free application developers to focus on the vital task of mapping problems to appropriate quantum computing forms by obscuring hardware-specific details.
On Monday, Splunk got an upgrade for its IBD SmartSelect Composite Rating from 93 to 96. Splunk makes software that enables companies to search and analyze large amounts of data in real time. In a March 11 news release, the company said the Census Bureau is using Splunk software to enable the first-ever digital census.
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]
It's (almost) official, folks: We have (kind of) a bear market!With the Dow Jones Industrial Average falling as much as 20% below its highest closing price of last month, the venerable index of American blue chips finally dipped into bear market territory on Wednesday, the same day that -- not coincidentally -- the World Health Organization declared COVID-19 a global "pandemic."Technically, of course, some might argue that for a real bear market, the Dow needs to move 20% below its last best high, and stay there till the closing bell. The fact that the index recovered slightly to close down "only" 19% below its previous high, therefore, may give nitpickers enough wiggle room to argue that we didn't actually achieve bear market status on Wednesday.But hey! There's always Thursday, right?Kidding aside, the fact that the Dow (and the Nasdaq, and the S&P 500, and the Russell 2000...) have fallen umpteen percent in a matter of a couple of weeks is bound to get some investors thinking that now might be a good time to start bottom-fishing for bargains in the stock market -- official bear market or no. In fact, amidst all the market turmoil Wednesday, one brave investment banker began doing just that: Sifting through the rubble, and searching for bargains.Here's what Rosenblatt Securities' analysts came up with yesterday:GoDaddy (GDDY)Rosenblatt's Mark Zgutowicz offers up GoDaddy stock as the banker's first tech pick of the day. The Scottsdale, Arizona-based domain registration company has been hard hit in the tech rout, falling 25% in share price over the past three weeks. And yet, Zgutowicz argues this now leaves the stock "attractively-priced in both absolute and relative terms."Why are these analysts so optimistic? GoDaddy maintains "dominant positioning with over 19M customers," explains Zgutowicz, and its "refreshed global brand" positions the company to develop "more and deeper customer engagements with high margin products" including "Websites + Marketing" and "Managed WordPress" going forward. Leveraging its existing client base and selling them on these new products, Zgutowicz could conceivably grow its profits 30% this year (to $0.99 per share), and then grow them another 25% in 2021 (to $1.25 a share).Furthermore, the analyst believes GoDaddy’s upcoming April 2nd Investor Day should be a catalyst for the shares. "While ’20 guidance was provided on the 4Q earnings call, we expect the company to provide a new LT growth forecast, perhaps by segment, which may alleviate some questions about moderating domain and hosting growth. In this regard, we would not be surprised to see a floor put in place for both domain and hosting LT growth, which we believe will provide a nice stabilizer for the stock," the analyst opined.In Zgutowicz's estimation, this is fast enough growth to justify a "buy" rating on GoDaddy stock as well. From a Wednesday closing price just above $58, he predicts these shares could rise as high as $88 over the next 12 months -- a near 52% return. (To watch Zgutowicz's track record, click here)Interestingly, this prediction is almost precisely what other analysts have valued GoDaddy at. Among of the eight analysts who've ventured an opinion on GoDaddy in the last month, each and every one of them a "buy" rating by the way, the overwhelming consensus is that GoDaddy shares are worth about $88.88 per share. So, the message is clear: GDDY is a Strong Buy. (See GoDaddy stock analysis on TipRanks)PTC Inc. (PTC)Let's continue with Boston-based PTC. The software and services company behind the "Creo" suite of product design software has been hit pretty hard by the coronavirus-inspired tech selloff, losing about 33% of its market cap in the last three weeks. In a note Wednesday, Rosenblatt analyst Yun Kim observed that investors seem to be reacting to PTC's "relatively large exposure" -- about 30% of its revenues -- to industrial clients in the retail and airline sectors, which could suffer in a coming recession.That being said, Kim believes that the company's "recent transition to a ratable revenue model," where more of the business derives from recurring revenue from existing customers, should insulate PTC somewhat from any economic turbulence."ARR growth," says Kim, "is more driven by the sustainability of [PTC's] churn rate" among existing customers rather than by acquiring new customers. And last time America faced a recession, in 2009, the company "didn't experience any deterioration in its churn rate." Moreover, here today PTC is says its churn rate has recently "modestly improved," and management believes that "it can grow its ARR at least in the low-teens for the current F2Q even without any new business bookings for the rest of the quarter."Kim is predicting that despite the current economic troubles, PTC will successfully grow its profits as much as 40% this year (to $2.30 per diluted share) and a further 12% in 2021. If he's right about that, Kim thinks the stock could be worth as much as $105 a share -- as much as 76% above where it trades today. (To watch Kim's track record, click here)All in all, cautious optimism circles this software maker, as TipRanks analytics exhibit PTC as a Buy. Out of 9 analysts tracked by TipRanks in the last 3 months, 5 are bullish on PTC stock, while 4 remain sidelined. With a return potential of nearly 50%, the stock’s consensus target price stands at $90.22. (See GoDaddy stock analysis on TipRanks)Splunk (SPLK)Next up from Rosenblatt is another pick by Mr. Kim: San Francisco-based real-time operational intelligence software provider Splunk.Down 31% from where it traded three weeks ago, Splunk stock looks like another bargain to Kim, who values the shares at $200, even -- about 66% above where they trade todayWhy is it a bargain? Once again, Kim's analysis focuses on ARR, "the key metric that reflects the company's actual business momentum." Annual recurring revenue, explains Kim, was up 54% in Q4 2019, accelerating from the 50% growth rate Splunk was showing a year ago.Management at Splunk is forecasting "mid-40s" ARR growth this year -- and not only this year, but 40% average growth rates all the way through fiscal 2023, numbers that "we believe will be received positively by investors," understated the analyst. Furthermore, Kim confirms that, in his view at least, "SPLK's ARR growth guidance is highly achievable."While other investors are worrying about the short-term effects of coronavirus, Kim argues that Splunk is forging ahead and "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."Other analysts share a similar enthusiasm with Kim when it comes to the data analytics giant. TipRanks data shows out of 23 analysts, 20 are bullish and only 3 are sidelined. With a consensus price target of $179.55, the potential upside here stands at nearly 50%. (See Splunk stock analysis on TipRanks)
Splunk Inc. (NASDAQ: SPLK), provider of the Data-to-Everything Platform, announced today the United States Census Bureau is using Splunk Cloud™ to make its first digital census the most secure, efficient and user-friendly in history. With Splunk, the U.S. Census Bureau is connecting data from 35 operations and 52 systems, ranging from cloud-based applications and data warehousing to field-deployed end-point devices. By bringing data from these systems together, Census leadership will be able to investigate, monitor, analyze and act on data in-real time, allowing them to field the most cost-effective and dynamic Census ever. For more information, visit the Splunk website.
Splunk Inc. (NASDAQ: SPLK), provider of the Data-to-Everything Platform, today announced the results of new research which explores the correlation between an organization’s use of data and its business success. The global study, "What Is Your Data Really Worth?", quantifies the economic impact and value of data across organizations. The study found that by making better use of data, leading organizations surveyed had materially increased revenue and reduced operational costs, boosting profitability by an average of 12.5% of their total gross profit. To download the full report and the executive summary, visit the Splunk website.
The current equity market malaise almost led to a bear market following heavy selling pressure on Monday March 9, with the S&P 500 falling 19% from its recent peak. While volatility is likely to remain high as the range of economic and corporate profit outcomes continues to be considered, and as monetary and fiscal stimulus measures are likely announced, we believe many high-quality stocks have been oversold and represent opportunities for investors on the lookout for bargains. We screened for companies in our coverage universe that have the following criteria: Buy-rated, at least 20% below their 52-week high, a Financial Strength rating of High (indicating a strong balance sheet that can weather a downturn), and where we have at least have a market weight recommendation on the sector. The list of 26 high-quality stocks is below.
Cybersecurity will increasingly be top of mind as the elections get closer. Let's take a look at three cybersecurity stocks I think are worth taking a look at here, asserts Eddy Elfenbein, editor of Growth Stock Advisor.
The massive volumes of information being generated and used by businesses today for informed decision making have fueled the booming business of data analytics and Big Data companies.
One of the interesting aspects of this sell-off is that weakness hasn't necessarily been concentrated where an investor might think. U.S. stocks already had valuation concerns heading into 2020. The economy was wrapping up its eleventh year of expansion. The spread of the coronavirus catalyzed fears on both fronts.Source: Shutterstock In that environment, it would stand to reason that cyclicals, high-flyers, and China plays all would struggle. That hasn't necessarily been the case.Chinese stocks, for instance, haven't performed that badly. The iShares MSCI China ETF (NASDAQ:MCHI) is only down 1% so far in 2020, and has pulled back just 6.4% from mid-January highs.InvestorPlace - Stock Market News, Stock Advice & Trading TipsCyclical stocks should be vulnerable in an environment where recession risk is rising, but some sectors have held up while others have weakened. Travel stocks unsurprisingly have been hammered. Macro-sensitive casino stocks were crushed on Thursday. * 9 Stocks to Buy If People Get Stuck at Home But construction and home improvement stocks are hanging in. Homebuilders Lennar (NYSE:LEN) and D.R. Horton (NYSE:DHI) both sit less than 10% below their highs. Home Depot (NYSE:HD) remains not far from its highs, though rival Lowe's Companies (NYSE:LOW) has weakened.And one would think given the stunning gains -- and valuations -- of growth stocks in recent years that high-flyers would be plunging. But the likes of Amazon (NASDAQ:AMZN), Square (NYSE:SQ), Salesforce.com (NYSE:CRM), and Shopify (NYSE:SHOP) all are positive year-to-date.Even though most stocks have declined, this hasn't been an indiscriminate sell-off, even among growth stocks. But many of those names did suffer in trading Thursday as broad market indices fell more than 3%.Friday's big stock charts focus on three of the growth plays that saw particular weakness yesterday. And while other stocks in the group have avoided disaster, trouble looms for these names. Given that growth stocks led much of this bull market, that might be bad news for the market as a whole. Uber (UBER)Source: Provided by Finviz It wouldn't be terribly surprising if Uber Technologies (NYSE:UBER) traded at all-time lows at the moment. As the first of Friday's big stock charts shows, that's not the case yet -- and it might not happen: * There's a lot going on in the UBER chart, but at the least the stock is consolidating. Support has come in, if inconsistently, above lows reached toward the end of 2019. Trading since late October established a broadening ascending wedge, a bullish formation. UBER even saw a "golden cross" on Wednesday as the 50-day moving average crossed above the 200DMA (and on decent volume). There are some reasons for optimism. * There are reasons for concern, too. Recent trading creates a pennant formation, a continuation pattern that suggests there could be another leg down. UBER made a quick, bearish test of the 50DMA late last month. If support breaks, UBER is headed below $30, and a re-test of November (and all-time) lows below $26 could follow. * Even with shares already down over 20% from February highs, such a move wouldn't necessarily be shocking. It's not hard to imagine that pandemic fears will keep consumers from paying to sit in a stranger's personal vehicle. Lower airline passenger numbers could provide another modest headwind. Investor nervousness can't help, either, for a stock with negative earnings and a somewhat steep valuation relative to gross profit dollars (if not necessarily revenue). * And so UBER is in a precarious spot at the moment. Technically, support has to hold. Fundamentally, the stock isn't cheap. And sentiment toward similar names seems to be negative and getting worse. The sell-off may not be over. Splunk (SPLK)Source: Provided by Finviz Big data play Splunk (NASDAQ:SPLK) has seen a reasonably sharp sell-off from mid-February highs. The second of our big stock charts suggests it could get worse: * SPLK simply keeps breaching support levels and is doing so in a hurry. A test of the 20DMA failed after just one session. Shares bounced briefly off the 50-day before reversing. A brief rally then was interrupted by a 9% decline on Thursday, an apparent response to disappointing guidance given with Wednesday afternoon's fiscal fourth quarter release. That fade establishes an inverted cup-and-handle pattern. If SPLK can't hold the 200DMA around $133, there's at least a chance of the stock re-testing 2019 support at $110. * For market bears, such a move hardly would be surprising. Even looking to fiscal 2021 (ending January) guidance, SPLK stock still trades at nearly 8x sales. Non-GAAP operating profits this year are guided to roughly zero. Splunk is transitioning its model to the cloud -- a shift to which its chief executive officer attributed the disappointing outlook -- and growing quickly. Still, those investors who long have worried about software valuations will hardly see SPLK as a value play. * As with UBER, the chart shows significant risk if support doesn't hold near current levels. And for both stocks, that seems to require the market to get back to its 2019 ways, where growth trumped valuation. Without that shift, even investors looking to buy the dip may look elsewhere. Carvana (CVNA)Source: Provided by Finviz The third of Friday's big stock charts, Carvana (NYSE:CVNA), looks much like the first two. The same concerns hold: * CVNA stock has also quickly fallen through moving averages, with Thursday's decline creating a failed test of the 200-day moving average. The next key level is $65, which provided resistance last summer before reverting to support in early October. Note that volume has been rather high in the last few sessions. That suggests at least some shareholders were looking for the door even after CVNA sold off following Q4 earnings last month. * Even relative to other growth names, sentiment can get worse. Carvana remains sharply unprofitable. Its shares trade at over 3x 2019 revenue despite relatively thin gross profits. Automobile stocks are plunging at the moment, which suggests investors are projecting weak industry revenue going forward. There's a real risk of decelerating revenue growth, yet that deceleration still doesn't look priced in. * As a result, CVNA is a useful example for investors who believe the broad market can get worse. Yes, U.S. stocks have pulled back. But valuations are still high relative to historical levels. Macro risk is elevated. And we simply haven't seen the sustained capitulation that generally marks a market bottom. It certainly seems like Carvana stock could, and maybe should, have more downside. That alone suggests the same is true for the market as a whole.Vince Martin has covered the financial industry for close to a decade for InvestorPlace.com and other outlets. He has no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 9 Stocks to Buy If People Get Stuck at Home * 7 Strong Value Stocks to Buy for 2020 * 5 High-Yield Dividend Stocks With Great Buyback Programs The post 3 Big Stock Charts for Friday: Uber, Splunk, and Carvana appeared first on InvestorPlace.
Marvell Technology, Splunk and Zoom Video Communications all have good stories to tell, their post-earnings stock gyrations notwithstanding.
Data analytics company Splunk Inc (NASDAQ: SPLK) reported a disappointing fourth-quarter bottom-line result Wednesday and issued a weak revenue forecast for the first quarter and fiscal year 2021, sending shares lower.The Splunk Analysts Wells Fargo analyst Philip Winslow reiterated an Overweight rating on Splunk with a $200 price target. Credit Suisse analyst Brad Zelnick reiterated an Outperform rating and $170 price target.Stifel analyst Brad Reback maintained a Buy rating and increased the price target from $150 to $160.Wedbush analyst Steve Koenig reiterated an Outperform rating and hiked the price target from $195 to $200.Baird analyst Rob Oliver maintained a Neutral rating and $150 price target.Cowen analyst Derrick Wood maintained an Outperform rating and raised the price target from $160 to $165.Splunk's Robust Revenue, Cash Flow Growth Can Be Sustained: Wells Fargo Splunk's annual recurring revenue grew at an accelerated pace of 54% year-over-year and demand for cloud solutions remained robust, Winslow said in a note.Cloud now accounts for about 35% of software total contract value, exceeding the company's expectations, the analyst said. The revenue shortfall the company is predicting for 2021 is due purely to a higher mix of cloud bookings, he said. Cloud revenue is recognized ratably and therefore its immediate contribution to revenue is significantly less than that of a term license, Winslow said. Splunk guided ARR to grow at a 40% three-year CAGR to about $4.610 billion in fiscal year 2023, well above the consensus and Wells Fargo's previous estimate of $4.363 billion.The fact the company reiterated its 2021 ARR and operating cash flow guidance signals that there is no meaningful change to true underlying business expectations, the analyst said. "We believe that Splunk's differentiated, disruptive technology positions the company to take advantage of the massive growth in unstructured and semi-structured data -- enabling the company to sustain robust revenue and cash flow growth to meet management's long-term targets and consensus expectations." View more earnings on SPLKSee Also: 10 Software Top Picks For 2020: Do You Own Them?Splunk's Initiatives Driving Future Growth: Credit Suisse A faster cloud transition will weigh on both revenue growth and profitability in fiscal year 2021, but longer-term guidance of 40% ARR growth through 2023; revenue acceleration to the high 20% range in fiscal years 2022 and 2023; and $1 billion in OCF by 2023 gives comfort, Zelnick said in a note. The analyst sees potential upside in ARR growth in the long term given the perpetual maintenance conversion to term or cloud is not baked into the guidance."Ultimately, we believe Splunk has removed barriers to adoption, expanded its use cases, and is making the investments to drive future growth and a more predictable business model." Cloud Transition The Right Long-Term Strategic Decision: Stifel The transition to cloud will weigh on Splunk's financial model in 2021, Reback said.Yet the analyst expects revenue growth and profitability to snap back in the following year.The cloud transition is the right long-term strategic decision, he said.Stifel believes Splunk can now show sustainable 20% growth and an improving cash flow profile as the transition plays out in the coming years, Reback said. Splunk's Trading Multiple Looks Attractive: Wedbush Adoption of Splunk Cloud and the company's growing portfolio of offerings for upstream and downstream data flows should further augment its leadership in machine data, Koenig said in a note. The analyst said Splunk's March 24 investor day could shed incremental light on the model transition to recurring revenue and delve into an inflection in operating margin and cash flow that's expected early next year."As FCF normalizes in FY23/CY22 in the wake of SPLK's shift to annual billings and elimination of perpetual licenses, SPLK's EV/FCF trading multiple looks attractive (24x CY22E and 18x CY23E), given the company's impressive growth trajectory."Cowen Continues To Find Splunk Attractively Valued The increasing cloud mix is a big reason for the limited upside, even as Cowen was expecting greater upside in the quarter, Wood said in a note.The analyst said overall bookings were stronger than they appeared. Splunk's explanation for the lower revenue guidance made sense, he said.Wood views the guidance as providing attractive medium-term goal posts."We think the numerous moving parts in the model could weigh on the stock near-term, but with the guide of high 20% growth in out-years, there should be good valuation support," the analyst said.Cowen continues to find the stock attractively valued.SPLK Price Action Splunk shares were slipping 5.89% to $146.24 at the time of publication Thursday. Latest Ratings for SPLK DateFirmActionFromTo Mar 2020Monness Crespi HardtDowngradesBuyNeutral Mar 2020WedbushMaintainsOutperform Mar 2020StifelMaintainsBuy View More Analyst Ratings for SPLK View the Latest Analyst Ratings See more from Benzinga * Co-Diagnostics Says COVID-19 Test Kit Demand Surges In Recent Weeks * The Daily Biotech Pulse: Trevana Pain Drug Resubmission Accepted For Review, Can-Fite To Explore Treatment For COVID-19 * Toll Brothers Makes Wedbush's Best Ideas List: Here's Why(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Stock futures plunged after a strong stock market rally Wednesday. But investors should be looking for a follow-through day to confirm the new uptrend.