Splunk Inc. (NASDAQ:SPLK) was upgraded by research analysts at UBS AG from a “neutral” rating to a “positive” rating in a report issued on Friday.
A number of other brokerages have also commented on SPLK. Cowen and Company reissued a “buy” rating on shares of Splunk in a report on Friday, August 18th. Susquehanna Bancshares Inc started coverage on Splunk in a report on Wednesday, June 7th. They set a “neutral” rating and a $68.00 price target on the stock. Zacks Investment Research lowered Splunk from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Guggenheim reissued a “buy” rating and set a $70.00 price target on shares of Splunk in a report on Saturday, August 19th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $75.00 target price on shares of Splunk in a report on Tuesday. Twelve investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $70.90.
Shares of Splunk (SPLK) opened at 60.28 on Friday. Splunk has a one year low of $50.64 and a one year high of $69.23. The company’s 50-day moving average is $59.66 and its 200-day moving average is $61.43. The stock’s market capitalization is $8.34 billion.
Splunk (NASDAQ:SPLK) last issued its quarterly earnings results on Thursday, August 24th. The software company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The company had revenue of $279.96 million for the quarter, compared to analyst estimates of $268.72 million. Splunk had a negative return on equity of 40.82% and a negative net margin of 35.19%. The company’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same period last year, the company earned $0.05 earnings per share. On average, equities research analysts anticipate that Splunk will post $0.52 earnings per share for the current year.
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In related news, CFO David F. Conte sold 1,044 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $62.20, for a total value of $64,936.80. Following the transaction, the chief financial officer now directly owns 207,965 shares of the company’s stock, valued at approximately $12,935,423. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas Merritt sold 10,125 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $58.01, for a total value of $587,351.25. Following the completion of the transaction, the insider now directly owns 231,440 shares in the company, valued at $13,425,834.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 558,056 shares of company stock valued at $32,554,124. 3.00% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of SPLK. TLP Group LLC bought a new position in shares of Splunk during the first quarter worth $102,000. Patten Group Inc. increased its position in shares of 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 during the last quarter. Acrospire Investment Management LLC increased its position in shares of Splunk by 79.9% in the first quarter. Acrospire Investment Management LLC now owns 2,701 shares of the software company’s stock worth $168,000 after buying an additional 1,200 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Splunk by 24.1% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,375 shares of the software company’s stock worth $195,000 after buying an additional 656 shares during the last quarter. Finally, ProShare Advisors LLC bought a new position in shares of Splunk during the first quarter worth $200,000.
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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