Splunk Inc. (NASDAQ:SPLK)‘s stock had its “neutral” rating restated by equities research analysts at Wedbush in a research note issued to investors on Friday. They currently have a $66.00 price target on the software company’s stock. Wedbush’s price objective indicates a potential upside of 0.93% from the company’s current price.
Several other research firms also recently commented on SPLK. Royal Bank Of Canada boosted their price objective on Splunk from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, May 23rd. Zacks Investment Research downgraded Splunk from a “buy” rating to a “hold” rating in a report on Thursday, April 27th. Susquehanna Bancshares Inc began coverage on Splunk in a report on Wednesday, June 7th. They set a “neutral” rating and a $68.00 price objective for the company. MKM Partners restated a “neutral” rating and set a $63.00 price objective (up previously from $60.00) on shares of Splunk in a report on Tuesday, May 30th. Finally, Morgan Stanley restated an “overweight” rating and set a $74.00 price objective on shares of Splunk in a report on Tuesday, May 30th. Eleven analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $71.97.
Shares of Splunk (SPLK) opened at 65.39 on Friday. Splunk has a 12-month low of $50.64 and a 12-month high of $69.23. The firm’s market capitalization is $9.09 billion. The company’s 50 day moving average is $59.92 and its 200 day moving average is $61.47.
Splunk (NASDAQ:SPLK) last issued its quarterly earnings results on Thursday, August 24th. The software company reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.02. Splunk had a negative return on equity of 75.18% and a negative net margin of 36.81%. The firm had revenue of $279.96 million for the quarter, compared to analyst estimates of $268.72 million. During the same period in the previous year, the firm earned $0.05 earnings per share. The company’s revenue was up 31.6% compared to the same quarter last year. On average, analysts forecast that Splunk will post $0.52 earnings per share for the current year.
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In other Splunk news, CFO David F. Conte sold 1,044 shares of Splunk 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 completion of the transaction, the chief financial officer now owns 207,965 shares in the company, valued at $12,935,423. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Godfrey Sullivan sold 40,000 shares of Splunk stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $58.13, for a total value of $2,325,200.00. Following the transaction, the director now owns 744,540 shares of the company’s stock, valued at approximately $43,280,110.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 558,056 shares of company stock valued at $32,554,124. 3.00% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of SPLK. Bank of Montreal Can raised its stake in Splunk by 293.5% in the first quarter. Bank of Montreal Can now owns 103,462 shares of the software company’s stock worth $6,445,000 after buying an additional 77,166 shares during the last quarter. DnB Asset Management AS acquired a new stake in Splunk during the first quarter worth approximately $685,000. Candriam Luxembourg S.C.A. raised its stake in Splunk by 129.5% in the first quarter. Candriam Luxembourg S.C.A. now owns 53,467 shares of the software company’s stock worth $3,331,000 after buying an additional 30,166 shares during the last quarter. Nationwide Fund Advisors raised its stake in Splunk by 28.0% in the first quarter. Nationwide Fund Advisors now owns 159,900 shares of the software company’s stock worth $9,960,000 after buying an additional 34,950 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its stake in Splunk by 5.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,588 shares of the software company’s stock worth $209,000 after buying an additional 191 shares during 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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