Nevertheless, the stocks have fallen -30.36% over the past one year. shares have fallen nearly -14.77% since the year began. Over the last five days, the stock has lost -0.77%. On the same session, the stock had its day’s lowest price of $97.94, but rose to a high of $103.61. It rated SPLK as “a Mkt perform” which previously was an “a Mkt outperform”. JMP Securities revised its rating on February 22, 2022. Daiwa Securities also remained covering SPLK and has increased its forecast on Mawith a “an Outperform” recommendation from previously “Neutral” rating. A number of analysts have revised their coverage, including Canaccord Genuity’s analysts, who began to cover the stock in early July with a ‘”a Buy”‘ rating. PT values the company’s stock at a premium of 16.42 to its Tuesday closing price. rating to a Neutral in a research note published on Tuesday, Jthe price target was $118. As a result of the transaction, Child Jason now holds 225,744 shares, worth roughly $22.27 million.Ĭitigroup reiterated its Splunk Inc. shares valued at $217,220 were divested by the SVP & Chief Financial Officer at a price of $108.61 per share. Upon selling the shares at $88.08, the SVP, CLO, Global Affairs & Sec now owns 130,311 shares.īefore that, Child Jason sold 2,000 shares. Then, Morgan Scott sold 883 shares, generating $77,775 in total proceeds.
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“In a market where investors are gravitating towards ‘clean’ stories, Splunk is not top of mind for most software investors right now however, we believe that the combination of a new CEO, a new investor and board member (Silver Lake), and solid fundamentals (ARR up 37% in 3Q) could lead to a material ‘re-rate’ over the next 6-9 months.While finding safe stocks with the potential for monster gains isn't always easy, we've found a few that could pay out well. “While the CEO transition likely delays any preliminary view into CY22 until the C4Q results (early Mar.), we believe that the fundamentals of the business appear solid based on the preliminary F3Q results, and the risk/reward remains attractive into 2022,” Materne writes. “That said, we do not think the news this morning is overly surprising given the multiple business model changes at SPLK over the last 2+ years and the recent (June ’21) investment by PE firm Silver Lake.”Įvercore’s Kirk Materne sees a buying opportunity. “We think the CEO transition will likely pressure shares near term as the headline of an interim CEO (Graham Smith / SPLK Chairman since 2019 / board member since 2011) adds a new layer of uncertainty to the story,” writes BTIG analyst Gray Powell, who has a Neutral rating on the stock. Still, the only thing that might have been a surprise was the timing of the change, not the change itself. Maybe so, but Splunk stock had fallen 18% at 3:49 p.m.
Merritt go, we see now as an appropriate time to transition into a new phase for the company as they continue to seek growth at scale and transition to the cloud,” writes Truist analyst Joel Fishbein Jr. Splunk also updated some of its financials, including its sales, which it said would come in at $660 million for the third quarter, ahead of estimates for $646.38 million.
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“As the Board and I considered how to best position Splunk for long-term success and continued growth,” Merritt said in a press release, “we determined now is the right time to transition to our next phase of leadership-in particular, the Board is focused on identifying a leader with a proven track record of scaling operations and growing multi-billion dollar enterprises.”
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