The firm reduced its Splunk estimates to reflect the potential recession impact related to COVID-19. After Hours: 98.90 (0.010) +0.010 Closed: Jun 9, 7:10:41 PM GMT-4 USD NASDAQ Disclaimer search Compare to NVIDIA Corporation 387.70 NVDA0.68, Inc. In early April, Deutsche Bank trimmed its Splunk target to $140 from $170, while maintaining its ‘Buy’ rating. Monness Crespi Hardt in early March downgraded Splunk to ‘Neutral,’ saying investors should be cautious as the company undergoes a more aggressive cloud transition amid a macroeconomic backdrop that’s growing more ominous. But the firm maintains its ‘Buy’ rating because it expects significant outperformance for investors with a timeframe of two to three years. Jefferies later reduced its target (now at $150), acknowledging the near-term risk to term-based license sales. In initially maintaining its Splunk target of $180, Jefferies pointed out that the decision to pivot to a cloud-first and subscriber-first model has proven to be a “massive tailwind” over the longer-term for other software vendors-including Adobe (ADBE), Autodesk (ADSK) and Intuit (INTU). Wedbush was among the most bullish at the time, boosting its target to $200 from $195, citing the surprisingly positive long-term guidance. (SPLK) 21 Comments Patrick Doyle 6.57K Follower s Follow Summary Since I wrote my cautionary piece about this company. The company has an average price target of 134.2 with a high of 180.00 and a low of 110.00. ![]() Over the next three years, Splunk is calling for ARR growth to average 40%.įollowing the release of the FQ4 results, several Wall Street firm raised their Splunk price targets, with many going to at least the $180 level, pointing to the encouraging ARR and cash flow forecasts. Tech Splunk Software: Switch To Calls Jun. In the last 3 months, 15 analysts have offered 12-month price targets for Splunk. For FY’21, the company is guiding to total ARR of $2.44 billion, representing growth of 45%. Stock Market Overview Market Momentum Market Performance Top 100 Stocks Todays Price Surprises New Highs & Lows Economic Overview Earnings Within 7 Days Earnings & Dividends Stock. In FQ4, total ARR of $1.68 billion was up 54%, acceleration from growth of 53% in the previous quarter. Technical Analysis Summary for Splunk Inc with Moving Average, Stochastics, MACD, RSI. Their SPLK share price forecasts range from 86.00 to 160.00. The ARR metric represents the best way to gauge the company’s real growth momentum during this transition to the cloud because it removes the timing of deal closures from the mix. 25 equities research analysts have issued 12-month price objectives for Splunks shares. ![]() Starting next year, revenue growth is expected to rebound to the high 20% range. ![]() That’s the reason why FY’21 top-line guidance of $2.6 billion fell short of the consensus of $2.88 billion. The ongoing transition presents a headwind to top-line growth, as cloud deals are fully ratable, meaning there’s less revenue recognized upfront. Management calls for the cloud mix in FY’21 to be in the 40% range.
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