Morningstar

Morningstar, Inc.

Equity Bottom-Up

We are raising our fair value estimate for Splunk to $154 per share from $126 while changing our moat rating to narrow from none and maintaining our positive trend rating. We are upgrading our moat rating to reflect our increased confidence in Splunk’s ability to attain sustainable profitability
In a world where machine data is growing at an exponential rate, Splunk’s platform is empowering companies to generate meaningful, real-time insights from the data in order to maintain critical…

Splunk’s path from upstart to a legitimate threat to legacy data analysis software vendors has accelerated as large companies have recognized the firm’s versatile offerings. Enterprises are increasingly turning to Splunk to handle a multitude of use cases, from application monitoring to security, yielding increasing customer switching costs and a long runway for growth.Machine log analysis is not a new concept, but enterprises are increasingly required to understand the voluminous data produced…

Splunk reported another excellent quarter, delivering upside to consensus estimates as well as our expectations on both the top and bottom lines, as well as raising its full-year guidance. The confluence of execution and secular tailwinds continues to buoy the firm’s results, as enterprise systems generate more and more raw data, and leveraging this data becomes increasingly important to operational efficiency and competitive differentiation. We will maintain our no-moat rating for Splunk, as…

United States

Splunk Inc. develops web based application software. The Company provides software that collects and analyzes machine data generated by websites, applications, servers, networks, and mobile devices. Splunk serves customers worldwide.

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