Zacks Investment Research upgraded shares of Splunk (NASDAQ:SPLK) from a hold rating to a buy rating in a research report sent to investors on Friday morning. Zacks Investment Research currently has $100.00 price objective 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. “
A number of other equities analysts have also weighed in on the company. KeyCorp reiterated a buy rating on shares of Splunk in a research report on Friday, October 27th. ValuEngine lowered Splunk from a hold rating to a sell rating in a research report on Wednesday, October 11th. Maxim Group reiterated a buy rating and issued a $79.00 price target on shares of Splunk in a research report on Friday, October 27th. Needham & Company LLC started coverage on Splunk in a research report on Monday, October 23rd. They issued a buy rating and a $95.00 price target for the company. Finally, Royal Bank of Canada reiterated a buy rating and issued a $76.00 price target on shares of Splunk in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirty have issued a buy rating to the stock. Splunk has a consensus rating of Buy and an average target price of $84.29.
Splunk (NASDAQ:SPLK) last announced its earnings results on Thursday, November 16th. The software company reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.59. Splunk had a negative return on equity of 72.06% and a negative net margin of 32.72%. The business had revenue of $328.65 million during the quarter, compared to analysts’ expectations of $309.01 million. research analysts expect that Splunk will post -1.3 earnings per share for the current fiscal year.
In related news, Director Godfrey Sullivan sold 8,750 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $81.29, for a total transaction of $711,287.50. Following the sale, the director now owns 207,239 shares of the company’s stock, valued at $16,846,458.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ledger Susan St. sold 10,316 shares of the stock in a transaction that occurred on 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 disclosure for this sale can be found here. Insiders sold 201,036 shares of company stock worth $14,132,192 in the last ninety days. 1.43% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the stock. State of Alaska Department of Revenue acquired a new stake in Splunk during the fourth quarter worth approximately $878,000. Acadian Asset Management LLC acquired a new stake in Splunk during the fourth quarter worth approximately $3,400,000. Westpac Banking Corp grew its position in Splunk by 24.7% during the fourth quarter. Westpac Banking Corp now owns 139,459 shares of the software company’s stock worth $11,553,000 after buying an additional 27,600 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Splunk by 5.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 446,420 shares of the software company’s stock worth $36,982,000 after buying an additional 24,065 shares in the last quarter. Finally, Creative Planning acquired a new stake in Splunk during the fourth quarter worth approximately $210,000.
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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