Splunk Inc. (NASDAQ:SPLK)‘s stock had its “buy” rating reiterated by investment analysts at Cowen and Company in a research note issued to investors on Friday.
Other analysts have also recently issued reports about the company. Zacks Investment Research upgraded Splunk from a “sell” rating to a “hold” rating in a research report on Wednesday. MKM Partners restated a “neutral” rating and set a $63.00 price objective (up from $60.00) on shares of Splunk in a research report on Tuesday, May 30th. Stifel Nicolaus restated a “hold” rating and set a $61.00 price objective on shares of Splunk in a research report on Sunday, May 28th. Guggenheim upgraded Splunk from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $69.00 to $70.00 in a research report on Thursday, June 22nd. Finally, BMO Capital Markets restated a “buy” rating and set a $71.00 price objective on shares of Splunk in a research report on Wednesday, July 12th. Twelve equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Splunk has an average rating of “Buy” and a consensus target price of $70.77.
Shares of Splunk (NASDAQ SPLK) opened at 59.33 on Friday. The firm’s market cap is $8.21 billion. Splunk has a 52-week low of $50.64 and a 52-week high of $69.23. The stock’s 50 day moving average is $59.34 and its 200-day moving average is $61.39.
Splunk (NASDAQ:SPLK) last released its quarterly earnings data on Thursday, May 25th. The software company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The business had revenue of $242.40 million for the quarter, compared to analysts’ expectations of $233.79 million. Splunk had a negative return on equity of 40.82% and a negative net margin of 35.19%. Splunk’s quarterly revenue was up 30.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.02) earnings per share. Equities analysts anticipate that Splunk will post $0.52 earnings per share for the current fiscal year.
In other Splunk news, Director Godfrey Sullivan sold 4,236 shares of the stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $61.77, for a total value of $261,657.72. Following the transaction, the director now owns 818,456 shares of the company’s stock, valued at $50,556,027.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David F. Conte sold 1,044 shares of the stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $62.20, for a total value of $64,936.80. Following the completion of the transaction, the chief financial officer now directly owns 207,965 shares in the company, valued at approximately $12,935,423. The disclosure for this sale can be found here. Insiders sold 558,056 shares of company stock worth $32,554,124 in the last three months. Insiders own 3.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in SPLK. BlackRock Inc. raised its stake in Splunk by 5,553.3% in the first quarter. BlackRock Inc. now owns 6,931,967 shares of the software company’s stock worth $431,791,000 after buying an additional 6,809,349 shares in the last quarter. Wellington Management Group LLP raised its stake in Splunk by 2,492.5% in the first quarter. Wellington Management Group LLP now owns 1,350,153 shares of the software company’s stock worth $84,102,000 after buying an additional 1,298,074 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Splunk by 40.1% in the second quarter. Bank of New York Mellon Corp now owns 3,942,003 shares of the software company’s stock worth $224,259,000 after buying an additional 1,128,410 shares in the last quarter. Harbour Capital Advisors LLC raised its stake in Splunk by 6,237.5% in the second quarter. Harbour Capital Advisors LLC now owns 1,061,852 shares of the software company’s stock worth $18,665,000 after buying an additional 1,045,097 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its stake in Splunk by 113.8% in the first quarter. Pictet Asset Management Ltd. now owns 1,510,716 shares of the software company’s stock worth $94,103,000 after buying an additional 804,201 shares in the last quarter.
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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