Splunk Inc. (NASDAQ:SPLK)‘s stock had its “buy” rating reiterated by equities researchers at Piper Jaffray Companies in a research report issued to clients and investors on Wednesday. They presently have a $80.00 target price on the software company’s stock. Piper Jaffray Companies’ target price indicates a potential upside of 17.92% from the stock’s current price.
A number of other analysts have also weighed in on SPLK. Zacks Investment Research lowered Splunk from a “buy” rating to a “sell” rating in a report on Thursday, July 27th. Royal Bank Of Canada restated a “buy” rating and set a $75.00 target price on shares of Splunk in a report on Monday, July 31st. BMO Capital Markets restated an “outperform” rating and set a $69.00 target price (down previously from $71.00) on shares of Splunk in a report on Friday, August 4th. Mizuho restated a “neutral” rating and set a $60.00 target price on shares of Splunk in a report on Tuesday, August 15th. Finally, Cowen and Company restated a “buy” rating on shares of Splunk in a report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Splunk presently has a consensus rating of “Buy” and an average price target of $74.30.
Splunk (NASDAQ SPLK) traded down $0.51 during trading on Wednesday, reaching $67.84. The company’s stock had a trading volume of 549,398 shares, compared to its average volume of 1,567,601. Splunk has a one year low of $50.64 and a one year high of $71.46.
Splunk (NASDAQ:SPLK) last posted its earnings results on Thursday, August 24th. The software company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The company had revenue of $279.96 million during the quarter, compared to analyst estimates of $268.72 million. Splunk had a negative return on equity of 75.81% and a negative net margin of 36.81%. Splunk’s revenue was up 31.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 earnings per share. equities analysts forecast that Splunk will post -1.47 EPS for the current year.
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In related news, insider Ledger Susan St. sold 10,316 shares of Splunk stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $70.17, for a total value of $723,873.72. Following the sale, the insider now directly owns 253,102 shares in the company, valued at approximately $17,760,167.34. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Godfrey Sullivan sold 40,000 shares of Splunk stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $63.48, for a total value of $2,539,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 439,197 shares of company stock worth $29,269,525 over the last 90 days. Insiders own 1.43% of the company’s stock.
A number of hedge funds have recently bought and sold shares of SPLK. Dimensional Fund Advisors LP boosted its holdings in Splunk by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 127,208 shares of the software company’s stock worth $7,924,000 after buying an additional 349 shares during the last quarter. Xact Kapitalforvaltning AB lifted its stake in Splunk by 0.3% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 18,241 shares of the software company’s stock worth $1,038,000 after purchasing an additional 62 shares in the last quarter. Chevy Chase Trust Holdings Inc. lifted its stake in Splunk by 0.6% in the 2nd 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. Mn Services Vermogensbeheer B.V. lifted its stake in Splunk by 513.0% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 21,994 shares of the software company’s stock worth $1,251,000 after purchasing an additional 18,406 shares in the last quarter. Finally, Diversified Trust Co lifted its stake in Splunk by 11.7% in the 2nd quarter. Diversified Trust Co now owns 3,806 shares of the software company’s stock worth $217,000 after purchasing an additional 400 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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