Zacks Investment Research upgraded shares of Splunk (NASDAQ:SPLK) from a hold rating to a buy rating in a report issued on Tuesday, November 21st. They currently have $92.00 target price on the software company’s stock.
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. “
Other equities analysts have also issued research reports about the stock. Cowen reaffirmed a buy rating on shares of Splunk in a research note on Friday, August 18th. Wells Fargo & Company reaffirmed a buy rating and issued a $95.00 price objective on shares of Splunk in a research note on Friday, November 17th. KeyCorp reaffirmed a buy rating and issued a $70.00 price objective on shares of Splunk in a research note on Friday, August 25th. Credit Suisse Group assumed coverage on shares of Splunk in a research note on Tuesday, September 5th. They issued an outperform rating and a $80.00 price objective for the company. Finally, Jefferies Group reaffirmed a buy rating and issued a $88.00 price objective on shares of Splunk in a research note on Friday, November 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $82.74.
Splunk (NASDAQ SPLK) traded up $0.10 during trading on Tuesday, reaching $80.55. 1,416,628 shares of the company’s stock traded hands, compared to its average volume of 1,652,966. Splunk has a 12-month low of $50.64 and a 12-month high of $84.88.
Splunk (NASDAQ:SPLK) last posted its quarterly earnings results on Thursday, November 16th. The software company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.42) by $0.59. The firm had revenue of $328.65 million for the quarter, compared to analyst estimates of $309.01 million. Splunk had a negative net margin of 32.72% and a negative return on equity of 71.89%. equities analysts forecast that Splunk will post -1.3 EPS for the current year.
In other Splunk news, SVP Leonard R. Stein sold 4,851 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $67.79, for a total value of $328,849.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Ledger Susan St. sold 677 shares of the business’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $69.52, for a total transaction of $47,065.04. Following the completion of the transaction, the senior vice president now owns 168,376 shares in the company, valued at $11,705,499.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 588,672 shares of company stock worth $39,505,760. 1.43% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. Aperio Group LLC boosted 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 in the last quarter. Chevy Chase Trust Holdings Inc. lifted its position in shares of Splunk by 0.6% during the second quarter. Chevy Chase Trust Holdings Inc. now owns 30,039 shares of the software company’s stock worth $1,709,000 after purchasing an additional 175 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Splunk by 2.9% during the second quarter. Prudential Financial Inc. now owns 7,140 shares of the software company’s stock worth $406,000 after purchasing an additional 200 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Splunk by 6.2% during the second quarter. IFP Advisors Inc now owns 3,508 shares of the software company’s stock worth $200,000 after purchasing an additional 204 shares in the last quarter. Finally, Seven Bridges Advisors LLC lifted its position in shares of Splunk by 5.1% during the second quarter. Seven Bridges Advisors LLC now owns 4,284 shares of the software company’s stock worth $244,000 after purchasing an additional 206 shares in the last quarter.
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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