Splunk (SPLK) Upgraded by BidaskClub to Strong-Buy

BidaskClub upgraded shares of Splunk (NASDAQ:SPLK) from a buy rating to a strong-buy rating in a research note issued to investors on Friday morning.

SPLK has been the subject of several other reports. Barclays upgraded Splunk from an equal weight rating to an overweight rating and increased their target price for the company from $80.00 to $105.00 in a research report on Monday, January 8th. Robert W. Baird increased their target price on Splunk from $85.00 to $90.00 and gave the company an outperform rating in a research report on Monday, December 18th. ValuEngine upgraded Splunk from a hold rating to a buy rating in a research report on Monday, April 2nd. Zacks Investment Research upgraded Splunk from a hold rating to a buy rating and set a $100.00 target price for the company in a research report on Friday, January 19th. Finally, Wells Fargo increased their target price on Splunk from $110.00 to $115.00 and gave the company an outperform rating in a research report on Friday, March 2nd. Six investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Splunk currently has a consensus rating of Buy and an average price target of $100.49.

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Splunk stock opened at $103.86 on Friday. The stock has a market capitalization of $15,001.11, a price-to-earnings ratio of -79.28 and a beta of 1.84. Splunk has a 12 month low of $54.17 and a 12 month high of $112.66.

Splunk (NASDAQ:SPLK) last posted its earnings results on Thursday, March 1st. The software company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.33 by $0.04. The firm had revenue of $419.70 million during the quarter, compared to the consensus estimate of $390.79 million. Splunk had a negative return on equity of 31.42% and a negative net margin of 20.39%. The business’s quarterly revenue was up 37.0% on a year-over-year basis. During the same period last year, the company earned $0.25 earnings per share. equities research analysts anticipate that Splunk will post -1.14 EPS for the current fiscal year.

In other Splunk news, CFO David F. Conte sold 12,969 shares of the firm’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $107.62, for a total value of $1,395,723.78. Following the completion of the sale, the chief financial officer now owns 106,582 shares of the company’s stock, valued at $11,470,354.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Leonard R. Stein sold 10,047 shares of the firm’s stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $107.89, for a total value of $1,083,970.83. Following the completion of the sale, the senior vice president now directly owns 78,606 shares of the company’s stock, valued at approximately $8,480,801.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 163,912 shares of company stock valued at $16,716,531. 1.43% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in SPLK. Russell Investments Group Ltd. grew its stake in Splunk by 9.5% in the third quarter. Russell Investments Group Ltd. now owns 44,454 shares of the software company’s stock valued at $2,953,000 after acquiring an additional 3,865 shares during the period. Stifel Financial Corp grew its stake in Splunk by 36.8% in the third quarter. Stifel Financial Corp now owns 54,863 shares of the software company’s stock valued at $3,679,000 after acquiring an additional 14,750 shares during the period. Asset Management One Co. Ltd. grew its stake in Splunk by 5.4% in the third quarter. Asset Management One Co. Ltd. now owns 214,183 shares of the software company’s stock valued at $14,235,000 after acquiring an additional 11,016 shares during the period. Bamco Inc. NY grew its stake in Splunk by 6.0% in the third quarter. Bamco Inc. NY now owns 54,844 shares of the software company’s stock valued at $3,643,000 after acquiring an additional 3,112 shares during the period. Finally, California Public Employees Retirement System grew its stake in Splunk by 5.7% in the third quarter. California Public Employees Retirement System now owns 224,190 shares of the software company’s stock valued at $14,893,000 after acquiring an additional 11,990 shares during the period. 99.37% of the stock is owned by hedge funds and other institutional investors.

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About Splunk

Splunk Inc provides software solutions that enable organizations to gain real-time operational intelligence in the United States and internationally. The company's products enable users to collect, index, search, explore, monitor, and analyze data regardless of format or source. It offers Splunk Enterprise, a machine data platform with collection, indexing, search, reporting, analysis, alerting, monitoring, and data management capabilities; and Splunk Cloud service.

Analyst Recommendations for Splunk (NASDAQ:SPLK)

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