Zacks Investment Research downgraded shares of Splunk Inc. (NASDAQ:SPLK) from a buy rating to a sell rating in a research report sent to investors on Thursday, July 27th.
According to Zacks, “Splunk Inc. provides a software platform, which collects and indexes data and enables users to search, correlate, analyze, monitor and report on this data, all in real time. Its software is designed to help users in various roles, including IT and business professionals. Splunk Inc. is based in San Francisco, California. “
Several other equities analysts have also weighed in on the company. Drexel Hamilton restated a buy rating and issued a $93.00 price target on shares of Splunk in a research note on Thursday, July 13th. BMO Capital Markets reiterated a buy rating and issued a $71.00 price objective on shares of Splunk in a report on Wednesday, July 12th. Robert W. Baird reissued an outperform rating and issued a $71.00 target price on shares of Splunk in a research report on Monday, July 10th. Guggenheim raised Splunk from a neutral rating to a buy rating and boosted their target price for the company from $69.00 to $70.00 in a research report on Thursday, June 22nd. Finally, Wedbush lowered Splunk from an outperform rating to a neutral rating and cut their price objective for the stock from $72.00 to $63.00 in a research report on Thursday, June 15th. Twelve analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Splunk presently has a consensus rating of Buy and an average price target of $70.77.
Splunk (SPLK) opened at 60.76 on Thursday. The stock’s market capitalization is $8.41 billion. Splunk has a 1-year low of $50.64 and a 1-year high of $69.23. The stock’s 50 day moving average price is $59.23 and its 200 day moving average price is $61.39.
Splunk (NASDAQ:SPLK) last posted its quarterly earnings data on Thursday, May 25th. The software company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.03. Splunk had a negative return on equity of 40.82% and a negative net margin of 35.19%. The firm had revenue of $242.40 million during the quarter, compared to analysts’ expectations of $233.79 million. During the same quarter last year, the firm earned ($0.02) EPS. The business’s quarterly revenue was up 30.4% on a year-over-year basis. On average, equities research analysts predict that Splunk will post $0.52 earnings per share for the current fiscal year.
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In other Splunk news, CFO David F. Conte sold 1,044 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $62.20, for a total transaction of $64,936.80. Following the sale, the chief financial officer now owns 207,965 shares of the company’s stock, valued at approximately $12,935,423. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Godfrey Sullivan sold 4,236 shares of the firm’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $61.77, for a total value of $261,657.72. Following the completion of the sale, the director now directly owns 818,456 shares of the company’s stock, valued at approximately $50,556,027.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 558,056 shares of company stock valued at $32,554,124. 3.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPLK. IFP Advisors Inc boosted its position in Splunk by 0.6% in the first quarter. IFP Advisors Inc now owns 3,304 shares of the software company’s stock worth $206,000 after buying an additional 20 shares in the last quarter. Xact Kapitalforvaltning AB raised its stake in Splunk by 0.3% in the second quarter. Xact Kapitalforvaltning AB now owns 18,241 shares of the software company’s stock worth $1,038,000 after buying an additional 62 shares in the last quarter. Patten Group Inc. raised its stake in Splunk by 3.6% in the first quarter. Patten Group Inc. now owns 2,154 shares of the software company’s stock worth $131,000 after buying an additional 75 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Splunk by 0.5% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 24,759 shares of the software company’s stock worth $1,542,000 after buying an additional 118 shares in the last quarter. Finally, Aperio Group LLC raised its position in Splunk by 1.3% in the second quarter. Aperio Group LLC now owns 13,005 shares of the software company’s stock valued at $740,000 after buying an additional 164 shares during the period.
About Splunk
Splunk Inc (Splunk) is engaged in the development and marketing of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. Its offerings address diverse data sets that are referred to as big data and are specifically used for machine data.
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