Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. The monthly returns are then compounded to arrive at the annual return. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. These returns cover a period from Januthrough October 2, 2023. Since 1988 it has more than doubled the S&P 500 with an average gain of +23.96% per year. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. and Morningstar, Inc.Ĭopyright 2023 Zacks Investment Research | 10 S Riverside Plaza Suite #1600 | Chicago, IL 60606Īt the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. Forbes Media, LLC Investor's Business Daily, Inc. Each of the company logos represented herein are trademarks of Microsoft Corporation Dow Jones & Company Nasdaq, Inc. This page has not been authorized, sponsored, or otherwise approved or endorsed by the companies represented herein. ![]() On the technical side, there are buyable pullback setups that investors should be watching for.īulls should be looking to accumulate shares at support levels and watch estimates for any big changes in expectations. On the fundamental side, the company is back on track when it comes to earnings and growth. While it is hard to chase a stock that is up 25% in the last month and almost 100% on the year, Splunk is certainly one to watch. The $107-110 area would be the buy zone with a lean against the 200-day MA. ![]() Look for $140 and $175 to be issues to the upside.įor those looking for an entry, below are some levels to watch: It will take a while to repair all that damage and there will be resistance levels up above. The stock is well off its lows, but investors should lower their expectations before thinking $200 is coming soon. But it sold off over the last three years, with the stock falling to $65 before rallying to $125 recently. Splunk was a post-covid favorite in 2020, hitting highs of $225. RBC- Reiterated SPLK with Outperform, price target: $132 from $125 JPMorgan Chase- Reiterated SPLK with Neutral, price target: $120 from $100 Wedbush- Reiterated SPLK with a Neutral, price target: $105 from $86 For next year we see a hike of 17%, with analysts lifting numbers from $3.60 to $4.22.Īlmost every analyst on the street lifted their price targets the day following earrings. Next quarter has been flat, but looking at the current year and next year, we see analyst lifting numbers over the last 30 days.įor the current year, we see estimates have ticked 20% higher going from $3.13 to $3.76. With the strong guidance, analysts were quick to hike estimates and lift price targets.įor the current quarter, we see numbers go from $0.77 to $1.11, a jump of 44%. Their customer base is getting larger as well, with customer with ARR over $1M at 834, which is up 111 year over year. Splunk guided Q3 revenue at $1.02-1.04B vs the $986M expected and guided FY24 revenues at $3.93-3.95B vs the $3.90B expected.Ĭloud revenue was up 29% y/y and operating margin was 16.7%, up from 3.6% last year. The company also raised its full year outlook on the top and bottom line. Splunk reported Q2 earnings in late August seeing an 84% EPS beat. The Forward PE is 33 and the stock pays no dividend. However, the stock scores an “F” in Value. The stock has a Zacks Style Score of “B” in Growth and Momentum. The company’s offerings enable users to investigate, monitor, analyze and act on machine data and big data, irrespective of format or source, and helps in operational decision making. It employs 8,000 and has a market cap of $20 billion. The company incorporated in 2003 and is headquartered in San Francisco, California. So the question for investors now is if this strong momentum can continue and if Splunk can ever get back to those lofty 2020 highs. ![]() The most recent catalyst was an earnings report that helped the stock jump 25% in just a couple weeks. But recently, investors have come back into the stock, helping SPLK almost double off those lows set back in October. The stock was a favorite back in 2020, but plummeted over 70% into the 2022 lows. The company enables enterprises to gain real-time operational intelligence by harnessing the value of their data. Splunk ( SPLK Quick Quote SPLK - Free Report) is a Zacks Rank #1 (Strong Buy) that develops and markets cloud services and licensed software solutions.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |