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Strategies & Market Trends : The New Economy and its Winners

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From: Bill Harmond	5/30/2014 12:12:19 PM
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10:43 SPLK Splunk target lowered premarket to $56 at UBS; healthy fundamentals not reflected in after hours trading (42.71 -7.329) UBS lowers their SPLK tgt to $56 from $100. SPLK posted a solid FQ1 beat and raise, but the positive news has not been rewarded in this new environment of multiple contraction for high growth software. Fundamentals are still strong, metrics were good for a FQ1, and the magnitude of the beat was slightly above its historical average. Plus, despite an increasing amount of competitive rhetoric from new vendors, SPLK is seeing the same competitors in the field today. SPLK should continue to see multiple years of high growth ahead as they added a proven head of field ops, accelerated quota rep hiring in FQ1, and the market is still large.

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