1/23/2024 0 Comments Splunk stock price last year![]() Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. Important Disclaimers The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. 4) Failure to improve growth in new customers. 3) New pricing fails to improve customer growth/expansion. 2) Lack of material adoption for cloud offerings. Risks to Downside: 1) Increased competition from large tech vendors, modern pure plays and/or open-source solutions. 3) New pricing unlocks greater usage – highlighted by Morgan Stanley. Risks to Upside: 1) ARR grows faster than expected as a broader portfolio drives rapid market penetration. At 11.5x EV/CY21 Rev and 38x CY22 FCF, we believe the durability of growth and strongly improving FCF are underappreciated,” Weiss added. However, we expect FCF to rebound strongly thereafter with FCF hitting $1.8 billion in FY26 resulting in a 24% FCF margin. Software ARR through FY24,” said Keith Weiss, equity analyst at Morgan Stanley.Īs SPLK’s transition to term & cloud and shift towards annual invoicing continues, we see headwinds to FCF in FY21. With Enterprise momentum, expanding use cases and new pricing/delivery models, we see SPLK sustaining >20% growth in adj. “Splunk (SPLK) is poised to maintain its leadership in the IT Ops and Security Analytics markets with an improving platform that surfaces business insights and initiates real-time responses. ![]() At last, BofA Securities lifted their price objective to $260 from $249 and gave the company a buy rating. Barclays lifted their price objective to $245 from $195 and gave the company an overweight rating. Jefferies Financial Group boosted their target price to $265 from $250 and gave the company a buy rating. They currently have a buy rating on the software company’s stock. ![]() Splunk had its price objective upped by Mizuho to $235 from $225. Several other analysts have also upgraded their stock outlook. Berenberg raised their stock price forecast to $260 from $247. The firm currently has an “Overweight” rating on the software company’s stock. Morgan Stanley gave the base target price of $270 with a high of $363 under a bull-case scenario and $172 under the worst-case scenario. From those 14 analysts, 11 rated “Buy”, two rated “Hold” and one rated “Sell”, according to Tipranks. The average price target represents a 17.37% increase from the last price of $205.91. Splunk Stock Price Forecastįourteen equity analysts forecast the average price in 12 months at $241.67 with a high forecast of $301.00 and a low forecast of $165.00. However, the stock is up about 40% so far this year. Splunk’s shares closed 0.25% lower at $205.91 but later plunged about 19% to $167.50 in extended trading on Wednesday. For us to get comfortable with the story and recommend the stock again, we would need evidence that the company can execute and exceed its guidance, at least for a couple of quarters,” Nandury added. However, in the near-term, the stock will languish. “We believe the company has the products, install base and customer goodwill that will help it in the long run. We believe Splunk now has to execute well for a couple of quarters at least before investors can be comfortable all’s well with the company and for the stock to work,” said Srini Nandury, senior equity analyst at Summit Insights Group. Splunk also lowered guidance for F4Q21 and pulled FY23 ARR and Operating Cash Flow guidance until the company can get a handle on the macro and the operating environment. “Following disappointing results and outlook, we are downgrading Splunk to ‘HOLD’ rating and establishing a new $160 price target. Splunk forecasts fourth-quarter revenue between $650 to $700 million, far short of the Wall Street consensus of $777.9 million. On an adjusted basis, Splunk reported a loss of 7 cents a share, missing market expectations of 9 cents profit. Splunk’s loss widened to $1.26 a share from 38 cents a share in the same period a year ago.
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