Splunk (SPLK) PT Lowered to $180 at Mizuho Securities on Guidance

March 4, 2021 6:17 AM EST
Get Alerts SPLK Hot Sheet
Price: $134.25 -9.52%

Rating Summary:
    37 Buy, 18 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 17 | Down: 13 | New: 41
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Mizuho Securities analyst Gregg Moskowitz lowered the price target on Splunk (NASDAQ: SPLK) to $180.00 (from $190.00) after the company rebounded from a poor October quarter with a much better F4Q, as License revenue and EPS significantly outperformed, and Cloud ARR accelerated. However, F1Q guidance was lower than expected, and management declined to provide FY22 guidance or reinstate FY23 targets.

Despite the weak guidance, the analyst believes that expectations were low enough to raise the share price. He maintained a Neutral rating, stating "Looking forward, we continue to find SPLK's technology valuable and differentiated overall, but remain concerned about whether SPLK can consistently execute going forward, and believe that competition has been tightening".

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