Splunk (SPLK) Price Target Increased to $100.00 by Analysts at Mizuho

Splunk (NASDAQ:SPLK) had its price objective increased by Mizuho from $90.00 to $100.00 in a research report sent to investors on Thursday, Marketbeat reports. Mizuho currently has a buy rating on the software company’s stock.

Several other research analysts also recently commented on the company. Wedbush restated a neutral rating and issued a $78.00 target price (down previously from $94.00) on shares of Splunk in a research note on Wednesday. BidaskClub upgraded Splunk from a hold rating to a buy rating in a research note on Wednesday, February 7th. Zacks Investment Research upgraded Splunk from a hold rating to a buy rating and set a $100.00 target price for the company in a research note on Friday, January 19th. Deutsche Bank raised their target price on Splunk to $100.00 and gave the stock a buy rating in a research note on Monday, January 15th. Finally, Barclays upgraded Splunk from an equal weight rating to an overweight rating and raised their target price for the stock from $80.00 to $105.00 in a research note on Monday, January 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirty have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $84.59.

Splunk (NASDAQ:SPLK) opened at $92.64 on Thursday. Splunk has a 12 month low of $54.17 and a 12 month high of $97.27. The company has a market capitalization of $13,104.67, a PE ratio of -21.35 and a beta of 2.04.

Splunk (NASDAQ:SPLK) last issued its earnings results on Thursday, November 16th. The software company reported $0.17 EPS for the quarter, topping the consensus estimate of ($0.42) by $0.59. Splunk had a negative return on equity of 72.06% and a negative net margin of 32.72%. The business had revenue of $328.65 million during the quarter, compared to the consensus estimate of $309.01 million. equities analysts forecast that Splunk will post -1.31 earnings per share for the current year.

In related news, insider Douglas Merritt sold 10,126 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $80.05, for a total transaction of $810,586.30. Following the transaction, the insider now directly owns 189,079 shares of the company’s stock, valued at approximately $15,135,773.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO David F. Conte sold 6,993 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $80.73, for a total value of $564,544.89. Following the transaction, the chief financial officer now directly owns 110,364 shares in the company, valued at $8,909,685.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,720 shares of company stock worth $2,477,118. 1.43% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SeaCrest Wealth Management LLC purchased a new position in shares of Splunk during the 4th quarter valued at about $102,000. James Hambro & Partners purchased a new position in Splunk in the 4th quarter worth approximately $124,000. MANA Advisors LLC purchased a new position in Splunk in the 4th quarter worth approximately $208,000. Creative Planning purchased a new position in Splunk in the 4th quarter worth approximately $210,000. Finally, Essex Investment Management Co. LLC purchased a new position in Splunk in the 4th quarter worth approximately $214,000.

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Splunk Company Profile

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.

Analyst Recommendations for Splunk (NASDAQ:SPLK)

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