Splunk (SPLK) Lowered to Sell at Vetr

Vetr lowered shares of Splunk (NASDAQ:SPLK) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning. Vetr currently has $103.98 price target on the software company’s stock.

A number of other research analysts have also weighed in on SPLK. Barclays upgraded Splunk from an equal weight rating to an overweight rating and raised their target price for the company from $80.00 to $105.00 in a report on Monday, January 8th. Zacks Investment Research lowered Splunk from a buy rating to a hold rating in a report on Friday, January 12th. Deutsche Bank lifted their price target on Splunk to $100.00 and gave the stock a buy rating in a report on Monday, January 15th. BidaskClub upgraded Splunk from a hold rating to a buy rating in a report on Wednesday, February 7th. Finally, Wedbush reiterated a neutral rating and set a $78.00 price target (down from $94.00) on shares of Splunk in a report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $100.58.

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SPLK stock opened at $104.49 on Wednesday. Splunk has a twelve month low of $54.17 and a twelve month high of $112.66. The company has a market capitalization of $15,254.61, a PE ratio of -79.76 and a beta of 1.85.

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

In other news, Director Godfrey Sullivan sold 8,750 shares of Splunk stock in a transaction on Monday, March 12th. The stock was sold at an average price of $107.60, for a total value of $941,500.00. Following the completion of the transaction, the director now directly owns 161,700 shares in the company, valued at $17,398,920. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Leonard R. Stein sold 4,165 shares of Splunk stock in a transaction on Tuesday, April 3rd. The shares were sold at an average price of $97.78, for a total value of $407,253.70. Following the completion of the transaction, the senior vice president now owns 125,768 shares of the company’s stock, valued at $12,297,595.04. 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 owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in SPLK. SeaCrest Wealth Management LLC purchased a new position in shares of Splunk in the fourth quarter valued at $102,000. James Hambro & Partners purchased a new position in shares of Splunk in the fourth quarter valued at $124,000. MANA Advisors LLC purchased a new position in shares of Splunk in the fourth quarter valued at $208,000. Creative Planning purchased a new position in shares of Splunk in the fourth quarter valued at $210,000. Finally, Essex Investment Management Co. LLC purchased a new position in shares of Splunk in the fourth quarter valued at $214,000. Institutional investors own 99.37% of the company’s stock.

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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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Splunk (NASDAQ:SPLK)

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