Splunk (SPLK) Given “Neutral” Rating at Wedbush

Wedbush reiterated their neutral rating on shares of Splunk (NASDAQ:SPLK) in a report issued on Wednesday morning. The brokerage currently has a $78.00 price target on the software company’s stock, down from their previous price target of $94.00.

Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Co reissued a buy rating and issued a $95.00 price target on shares of Splunk in a research note on Friday, November 17th. BidaskClub raised Splunk from a hold rating to a buy rating in a research note on Wednesday, February 7th. Jefferies Group reissued a buy rating and issued a $88.00 price target on shares of Splunk in a research note on Friday, November 17th. Maxim Group increased their price target on Splunk from $79.00 to $96.00 and gave the company a buy rating in a research note on Friday, November 17th. Finally, Bank of America increased their price target on Splunk from $80.00 to $95.00 and gave the company a buy rating in a research note on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirty have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $84.59.

Shares of Splunk (NASDAQ SPLK) traded up $3.57 during mid-day trading on Wednesday, hitting $92.35. The stock had a trading volume of 2,349,300 shares, compared to its average volume of 1,444,281. The firm has a market capitalization of $12,558.68, a PE ratio of -21.50 and a beta of 2.04. Splunk has a 12 month low of $54.17 and a 12 month high of $95.18.

Splunk (NASDAQ:SPLK) last issued its quarterly earnings results on Thursday, November 16th. The software company reported $0.17 earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.59. The company 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 72.06% and a negative net margin of 32.72%. equities analysts expect that Splunk will post -1.3 earnings per share for the current year.

In other Splunk 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 value of $711,287.50. Following the transaction, the director now owns 207,239 shares in the company, valued at $16,846,458.31. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Leonard R. Stein sold 4,851 shares of the stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $80.54, for a total value of $390,699.54. Following the completion of the transaction, the senior vice president now owns 89,157 shares in the company, valued at approximately $7,180,704.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,720 shares of company stock worth $2,477,118. Corporate insiders own 1.43% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Zions Bancorporation bought a new position in shares of Splunk in the third quarter valued at approximately $591,000. Royal Bank of Canada lifted its holdings in shares of Splunk by 13.5% in the second quarter. Royal Bank of Canada now owns 52,243 shares of the software company’s stock valued at $2,972,000 after purchasing an additional 6,212 shares in the last quarter. Motley Fool Asset Management LLC lifted its holdings in shares of Splunk by 8.4% in the third quarter. Motley Fool Asset Management LLC now owns 167,500 shares of the software company’s stock valued at $11,127,000 after purchasing an additional 13,000 shares in the last quarter. Atria Investments LLC bought a new position in shares of Splunk in the fourth quarter valued at approximately $270,000. Finally, Advisor Group Inc. lifted its holdings in shares of Splunk by 51.4% in the third quarter. Advisor Group Inc. now owns 6,126 shares of the software company’s stock valued at $406,000 after purchasing an additional 2,080 shares in the last quarter.

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About Splunk

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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