First Analysis Downgrades Splunk (NASDAQ:SPLK) to Neutral

Splunk (NASDAQ:SPLK) was downgraded by First Analysis from an “outperform” rating to a “neutral” rating in a research note issued on Tuesday, Briefing.com Automated Import reports. They currently have a $157.00 price objective on the software company’s stock. First Analysis’ target price indicates a potential upside of 0.35% from the company’s current price.

Other analysts also recently issued reports about the company. Maxim Group increased their price objective on Splunk from $148.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. BidaskClub raised Splunk from a “hold” rating to a “buy” rating in a research note on Monday, November 25th. Northland Securities reissued a “buy” rating and issued a $160.00 price objective on shares of Splunk in a research note on Friday, November 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price objective on shares of Splunk in a research note on Friday, November 22nd. Finally, JMP Securities increased their price objective on Splunk from $135.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $158.85.

Shares of NASDAQ:SPLK opened at $156.46 on Tuesday. The business’s 50 day simple moving average is $149.89 and its two-hundred day simple moving average is $130.03. The firm has a market cap of $24.30 billion, a P/E ratio of -98.40 and a beta of 2.06. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.33 and a current ratio of 2.33. Splunk has a 52-week low of $107.16 and a 52-week high of $157.72.

Splunk (NASDAQ:SPLK) last issued its quarterly earnings data on Thursday, November 21st. The software company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.54 by $0.04. The firm had revenue of $626.00 million during the quarter, compared to the consensus estimate of $605.20 million. Splunk had a negative return on equity of 11.03% and a negative net margin of 14.24%. The company’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.38 earnings per share. On average, equities analysts forecast that Splunk will post -0.86 earnings per share for the current fiscal year.

In other news, insider Ledger Susan St. sold 1,297 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $151.54, for a total value of $196,547.38. Following the completion of the transaction, the insider now directly owns 185,222 shares of the company’s stock, valued at $28,068,541.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Scott Morgan sold 306 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $150.00, for a total value of $45,900.00. Following the completion of the transaction, the senior vice president now directly owns 50,104 shares of the company’s stock, valued at $7,515,600. The disclosure for this sale can be found here. Insiders sold 57,702 shares of company stock valued at $8,308,530 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Commonwealth Bank of Australia boosted its stake in Splunk by 43.2% during the second quarter. Commonwealth Bank of Australia now owns 325 shares of the software company’s stock valued at $39,000 after buying an additional 98 shares during the period. Parallel Advisors LLC raised its position in Splunk by 16.2% during the third quarter. Parallel Advisors LLC now owns 888 shares of the software company’s stock valued at $105,000 after purchasing an additional 124 shares in the last quarter. Assetmark Inc. raised its position in Splunk by 102.3% during the second quarter. Assetmark Inc. now owns 265 shares of the software company’s stock valued at $33,000 after purchasing an additional 134 shares in the last quarter. Alps Advisors Inc. raised its position in Splunk by 2.3% during the third quarter. Alps Advisors Inc. now owns 6,054 shares of the software company’s stock valued at $714,000 after purchasing an additional 134 shares in the last quarter. Finally, Patten Group Inc. raised its position in Splunk by 4.1% during the third quarter. Patten Group Inc. now owns 3,489 shares of the software company’s stock valued at $411,000 after purchasing an additional 137 shares in the last quarter. 90.75% of the stock is owned by hedge funds and other institutional investors.

About Splunk

Splunk, Inc engages in the development and marketing of software solutions. Its products include Splunk cloud, Splunk light, and Splunk enterprise. It also offers solutions for information technology operations, security, internet-of-things, application analytics, business analytics, and industries. The company was founded by Erik M.

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Analyst Recommendations for Splunk (NASDAQ:SPLK)

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