Fri, Aug. 26, 3:00 PM
Fri, Aug. 26, 12:45 PM
Fri, Aug. 26, 9:13 AM
Thu, Aug. 25, 5:33 PM
Thu, Aug. 25, 5:06 PM
- Splunk (NASDAQ:SPLK) registered 43.5% Y/Y revenue ($212.8M) growth, 32% Y/Y license revenue ($115.7M) growth, operating income of $8.2M, operating margin of 3.9% and operating cash flow of $18.3M.
- Projects Q3 total revenue of $228M-$230M, operating margin of 5%-6% and FY 2017 total revenue of $910M-$914M (previously $892M-$896M) and operating margin of 5% (unchanged).
- Splunk is up around 9% on the month, around 18% over the last three and nearly 6% on the year.
- Conference call
- Press release
Thu, Aug. 25, 4:03 PM
Wed, Aug. 24, 5:35 PM
Thu, May 26, 5:39 PM
Thu, May 26, 4:38 PM
- Splunk (NASDAQ:SPLK) is selling off after hours, -6%, after a Q1 earnings report where a loss came as expected though revenues grew solidly and beat, and the company raised full-year guidance.
- It's a "solid start to the year and we are pleased to welcome more than 450 new customers to the Splunk family,” says CEO Doug Merritt.
- The company lost $0.77/share on a GAAP basis; non-GAAP loss was $0.02, in line with expectations.
- Revenue breakout: License, $100.99M (up 40.5%); Maintenance and services, $84.96M (up 57.9%).
- Operating cash flow of $35.7M; free cash flow was $32M.
- For Q2, it sees revenues of $198M-$200M, in line with expectations, and operating margin of 2-3%. It's raising guidance for full-year revenues, to $892M-$896M from its February forecast of $880M (and consensus of $882.3M).
- Press Release
Thu, May 26, 4:03 PM
Wed, May 25, 5:35 PM
Tue, Mar. 22, 1:46 PM
- Stifel has hiked its Splunk (SPLK +2.4%) target by $5 to $56, while reiterating a Buy rating. Shares are close to their highest levels since January.
- Separately, Splunk has disclosed Guido Schroeder, the company's SVP of products (in charge of all product development/management) since 2012, will see his employment terminate "on or before" April 29.
- No word yet on Schroeder's replacement. News of his pending departure comes ten months after Splunk made a CTO change.
- Three weeks ago: BMO starts Splunk at Outperform, forecasts strong security growth
Fri, Mar. 4, 2:55 PM
- Estimating the company's security revenue will rise 40% in FY17 (ends Jan. '17) and that its broader addressable market will see an 11% CAGR over the next few years, BMO's Keith Bachman has launched coverage on Splunk (SPLK +0.4%) with an Outperform rating and $55 target.
- Bachman also thinks Splunk's reported FY16 billings figures understate its actual growth. "In FY2016, we believe that the underlying growth rate normalizing for ratable mix was around 55% y/y growth versus reported billings growth of about 45%. In the January quarter, we believe that billings normalized for ratable mix was about $600 million compared with $390 million the January 2015 quarter, or approximately 55% y/y growth compared with reported billings growth of 44% y/y."
- He's unconcerned about competition from private Elastic (relies on Elasticsearch and other open-source software tools), declaring its pricing advantage is unclear on an all-in cost basis, and considers Splunk's valuation reasonable. "At $55 per share, Splunk would trade at 26x EV/FY2018E (January year-end) [free cash flow], and Splunk would trade at an (EV/FY2018E FCF)/FY2018E revenue growth rate of 0.9x, compared with the high-growth software average of 1.3x."
- Shares are up 21% since Splunk beat FQ4 estimates and issued strong guidance eight days ago. Since then, the company has unveiled its Adaptive Response Initiative, an effort to pair Splunk's machine data analytics tools with third-party security hardware/software to provide an end-to-end view of alert and threat data. Partners include Fortinet, Palo Alto Networks, CyberArk, and several private companies.
Fri, Feb. 26, 12:22 PM
- Tableau (DATA +3.7%), Qlik (QLIK +2.7%), and Hortonworks (HDP +5.4%) are rallying after machine data analytics leader Splunk (SPLK +7.4%) beat FQ4 estimates, reported 44% Y/Y license revenue growth, and issued strong FQ1/FY17 guidance. The gains come three weeks after Qlik, Hortonworks, and Splunk (along with other enterprise tech firms) were hammered in the wake of Tableau's Q4 results and Q1/2016 guidance.
- Oppenheimer's Shaul Eyal (Outperform rating, $80 target) is pleased with Splunk's large deal momentum. "[F]or 4Q SPLK recorded 523 six-figure orders; for FY16, SPLK recorded ~1,500 six-figure orders, 102 seven-figure orders and three eight-digit orders."
- Cowen's Gregg Moskowitz (Outperform, $62 target): "Term license bookings represented a very high 53% of total license bookings. While the co. expects a reversion to the 40%-45% range going forward, we believe it will likely settle at a level at least modestly north of that. License ASPs of $80k were very strong for a second consecutive quarter and well above historical norms (~$40k- $50k). International revenue grew 67% y/y and accounted for 28% of total revenue, 300 bps above the year-ago period."
- William Blair's Bhavan Suri (Outperform): "Not surprisingly, fourth-quarter ASPs jumped to $80,000 from historical levels in the $40,000-$50,000 range, which management said resulted from both larger initial and expansion deals. We attribute this dynamic to increased market recognition of the value proposition inherent to Splunk’s platform approach, which is that it enables joint purchasing decisions, rapid horizontal use-case expansion, and shorter time to value for customers."
- Baird's Steven Ashley: "Partner relationships continue to strengthen, and management called out a number of 80 partners who have tightly integrated Splunk into their own product. Splunk’s competitive win rate in FY16 was over 85%, reinforcing our view that Splunk is a one-of-a-kind solution in the market at this time."
Fri, Feb. 26, 9:17 AM
- Gainers: RRM +49%. SUNE +31%. AMTG +31%. SGMS +27%. STMP +26%. GOL +19%. SPLK +17%. JCP +16%. HLF +13%. BIDU +11%. SYN +10%. GLBL +8%. WLL +9%. FCX +7%. CHK +7%. PANW +8%. NRF +6%. TCK +6%. MRO +6%. KHC +6%. GRPN 5%. HLT 5%.
- Losers: RJET -83%. PPHM -60%. CARA -36%. WTW -28%. SWN -14%. GG -11%. FOLD -9%. RBS -8%. MNKD -6%. ARI -5%.
Thu, Feb. 25, 5:45 PM