30-May-14 07:48 ET In Play Splunk color on qtr (50.039 ) :
FBR Capital notes, SPLK reported solid F1Q results, exceeding the Street on both the top and bottom lines. In a nutshell, while co continues to fire on all cylinders, it came up shy of the Street's lofty expectations, which firm believes will pressure shares this morning. While it is maintaining Outperform rating, it lowers tgt from $120 to $80 to reflect multiple compression in light of recent market volatility.
Northland Capital notes, SPLK released strong 1Q results, with the top-line of $85.9mn beating our expectations by $5.3mn., with continued momentum in deals above 100k after a seasonally strong 4Q. 25% of bookings came from ratable term contracts, or multi-year deals, so annualized billings came in at 44% growth; Outperform.
Needham notes, SPLK's quarter F1Q15(Apr) was strong. While the results were solid and guidance was narrowly above consensus revenue for JulyQ, consensus FY15 revenue of $407m was already above guidance going into last night's call. Firm believes there may be some questions regarding the growth rate and consistency of deferred revenues, as 25% of license in AprQ was ratable, vs. 33% and 43% in the preceding quarters; this may be explained by seasonality of large ratable deals being 2H-weighted. Increasing estimates, but maintain Hold.
UBS lowered its SPLK tgt to $56 from $100; maintain Buy
Credit Suisse lowered its SPLK tgt to $85 from $105; Outperform
Susquehanna lowered its SPLK tgt to $74 from $110; Positive |
