Splunk’s Focus on Execution and Disruption Drives Massive Fourth-Quarter Beat; Raising FVE
Splunk ended its fiscal 2019 on a tremendous note, crushing consensus estimates as well as our expectations on both the top and bottom lines. We are raising our fair value estimate to $126 from $112, primarily due to the time value of money and healthier top-line assumptions, partially offset by an appreciably higher diluted share count. We will maintain our no-moat rating for Splunk, as the gamut of conceivable outcomes remains too broad and implies a non-trivial probability of material value d...Splunk provides software solutions that enable users to investigate, monitor, analyze and act on machine data. The company's main product is Splunk Enterprise, a machine data platform, comprised of collection, indexing, search, reporting, analysis, alerting, monitoring and data management capabilities. The company's Splunk Cloud delivers the capabilities of Splunk Enterprise as a service, while Splunk Light provides log search and analysis for information technology environments. The company also provides services that include maintenance and customer support, training services to its customers and channel partners, as well as consulting and implementation services to customers through its services team.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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