Splunk (NASDAQ:SPLK) PT Raised to $95.00 at BTIG Research

Splunk (NASDAQ:SPLK) had its price objective boosted by BTIG Research from $80.00 to $95.00 in a report released on Friday, November 17th. The firm currently has a buy rating on the software company’s stock.

Several other brokerages have also recently weighed in on SPLK. Cowen restated a buy rating on shares of Splunk in a report on Friday, August 18th. Canaccord Genuity restated a buy rating and issued a $90.00 price objective (up previously from $80.00) on shares of Splunk in a report on Friday, November 17th. Maxim Group restated a buy rating and issued a $85.00 price objective on shares of Splunk in a report on Friday, August 25th. Zacks Investment Research cut Splunk from a buy rating to a hold rating in a report on Thursday, October 26th. Finally, Oppenheimer restated a buy rating and issued a $80.00 price objective on shares of Splunk in a report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-eight have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $82.74.

Splunk (NASDAQ SPLK) opened at $79.70 on Friday. Splunk has a 1-year low of $50.64 and a 1-year high of $84.88.

Splunk (NASDAQ:SPLK) last released its earnings results on Thursday, November 16th. The software company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.42) by $0.59. The firm had revenue of $328.65 million during the quarter, compared to analysts’ expectations of $309.01 million. Splunk had a negative return on equity of 71.89% and a negative net margin of 32.72%. analysts anticipate that Splunk will post -1.3 EPS for the current year.

In related news, Director Godfrey Sullivan sold 128,750 shares of Splunk stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $67.84, for a total value of $8,734,400.00. Following the transaction, the director now directly owns 699,540 shares of the company’s stock, valued at $47,456,793.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas M. Neustaetter sold 3,614 shares of Splunk stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $67.70, for a total transaction of $244,667.80. Following the completion of the transaction, the director now directly owns 12,871 shares in the company, valued at $871,366.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 588,672 shares of company stock valued at $39,505,760. 1.43% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Aperio Group LLC grew its stake in shares of Splunk by 1.3% during the second quarter. Aperio Group LLC now owns 13,005 shares of the software company’s stock worth $740,000 after buying an additional 164 shares during the last quarter. Chevy Chase Trust Holdings Inc. grew its stake 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 buying an additional 175 shares during the last quarter. Prudential Financial Inc. grew its stake 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 buying an additional 200 shares during the last quarter. IFP Advisors Inc grew its stake 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 buying an additional 204 shares during the last quarter. Finally, Seven Bridges Advisors LLC grew its stake 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 buying an additional 206 shares during the last quarter.

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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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