Splunk (SPLK) Receives $101.42 Consensus Price Target from Brokerages

Splunk (NASDAQ:SPLK) has been given a consensus recommendation of “Buy” by the thirty-nine research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, thirty-one have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $101.50.

A number of equities analysts recently commented on the stock. Vetr lowered shares of Splunk from a “hold” rating to a “sell” rating and set a $103.98 price objective for the company. in a research note on Wednesday. BidaskClub raised shares of Splunk from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 13th. Credit Suisse Group raised their price objective on shares of Splunk from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Thursday, April 12th. Stifel Nicolaus raised shares of Splunk from a “hold” rating to a “buy” rating and raised their price objective for the stock from $75.00 to $120.00 in a research note on Friday, March 2nd. Finally, Monness Crespi & Hardt assumed coverage on shares of Splunk in a research note on Wednesday, April 11th. They issued a “buy” rating and a $132.00 price objective for the company.

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In other news, Director Godfrey Sullivan sold 8,750 shares of Splunk stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $107.60, for a total transaction of $941,500.00. Following the sale, the director now directly owns 161,700 shares in the company, valued at approximately $17,398,920. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Leonard R. Stein sold 10,047 shares of Splunk stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $107.89, for a total transaction of $1,083,970.83. Following the sale, the senior vice president now owns 78,606 shares in the company, valued at $8,480,801.34. The disclosure for this sale can be found here. Insiders sold a total of 163,912 shares of company stock worth $16,716,531 over the last 90 days. Company insiders own 1.43% of the company’s stock.

Several institutional investors have recently modified their holdings of SPLK. SeaCrest Wealth Management LLC acquired a new stake in shares of Splunk during the 4th quarter valued at about $102,000. James Hambro & Partners acquired a new stake in shares of Splunk during the 4th quarter valued at about $124,000. Patten Group Inc. boosted its position in shares of Splunk by 1,048.8% during the 3rd quarter. Patten Group Inc. now owns 24,746 shares of the software company’s stock valued at $143,000 after acquiring an additional 22,592 shares in the last quarter. MANA Advisors LLC acquired a new stake in shares of Splunk during the 4th quarter valued at about $208,000. Finally, Creative Planning acquired a new stake in shares of Splunk during the 4th quarter valued at about $210,000. Institutional investors and hedge funds own 99.37% of the company’s stock.

NASDAQ:SPLK traded down $0.89 during trading hours on Thursday, reaching $105.91. 1,140,130 shares of the company’s stock were exchanged, compared to its average volume of 1,838,662. The stock has a market capitalization of $15,495.14, a price-to-earnings ratio of -80.85 and a beta of 1.85. Splunk has a 12 month low of $54.17 and a 12 month high of $112.66.

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

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Splunk Company Profile

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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