Analysts Set Splunk Inc (SPLK) Target Price at $83.12

Shares of Splunk Inc (NASDAQ:SPLK) have been given a consensus recommendation of “Buy” by the thirty-eight analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-eight have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $83.12.

Several analysts have recently issued reports on SPLK shares. Robert W. Baird reissued an “average” rating and issued a $85.00 price target (up previously from $75.00) on shares of Splunk in a research report on Monday, November 20th. Jefferies Group reissued a “buy” rating and issued a $81.00 price target on shares of Splunk in a research report on Thursday, August 24th. Canaccord Genuity reissued a “buy” rating and issued a $80.00 price target (up previously from $75.00) on shares of Splunk in a research report on Tuesday, August 22nd. Drexel Hamilton reaffirmed a “buy” rating and set a $93.00 target price on shares of Splunk in a report on Tuesday, August 22nd. Finally, Guggenheim reaffirmed a “buy” rating and set a $70.00 target price on shares of Splunk in a report on Saturday, August 19th.

Splunk (NASDAQ:SPLK) traded up $0.97 during midday trading on Friday, hitting $81.39. 2,122,203 shares of the stock traded hands, compared to its average volume of 1,656,728. Splunk has a one year low of $50.64 and a one year 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, beating the consensus estimate of ($0.42) by $0.59. Splunk had a negative net margin of 32.72% and a negative return on equity of 72.06%. The company had revenue of $328.65 million for the quarter, compared to analyst estimates of $309.01 million. sell-side analysts expect that Splunk will post -1.3 EPS for the current year.

In other Splunk news, insider Ledger Susan St. sold 10,316 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $70.17, for a total value of $723,873.72. Following the completion of the transaction, the insider now owns 253,102 shares of the company’s stock, valued at approximately $17,760,167.34. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Godfrey Sullivan sold 120,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $68.22, for a total transaction of $8,186,400.00. Following the completion of the transaction, the director now directly owns 585,790 shares of the company’s stock, valued at approximately $39,962,593.80. The disclosure for this sale can be found here. In the last three months, insiders sold 539,922 shares of company stock valued at $36,184,422. Corporate insiders own 1.43% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Splunk by 5.1% in the 2nd quarter. Vanguard Group Inc. now owns 11,347,936 shares of the software company’s stock valued at $645,584,000 after purchasing an additional 546,338 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Splunk by 2.1% in the 2nd quarter. BlackRock Inc. now owns 7,075,105 shares of the software company’s stock valued at $402,503,000 after purchasing an additional 143,138 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Splunk by 9.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,593,033 shares of the software company’s stock valued at $308,053,000 after purchasing an additional 389,565 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Splunk by 6.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,196,508 shares of the software company’s stock valued at $278,773,000 after purchasing an additional 254,505 shares in the last quarter. Finally, Carmignac Gestion purchased a new stake in Splunk during the 3rd quarter valued at $198,193,000.

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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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