Summit Redstone set a $72.00 price target on Splunk Inc. (NASDAQ:SPLK) in a research note published on Monday. The firm currently has a a buy rating on the software company’s stock.

Analyst Recommendations for Splunk (NASDAQ:SPLK)

SPLK has been the topic of several other reports. Drexel Hamilton reaffirmed a buy rating and set a $90.00 target price (up from $85.00) on shares of Splunk in a report on Monday, August 29th. RBC Capital Markets reaffirmed a buy rating and set a $70.00 target price (up from $60.00) on shares of Splunk in a report on Friday, August 19th. Wedbush reaffirmed an outperform rating and set a $70.00 target price (up from $60.00) on shares of Splunk in a report on Friday, August 19th. Citigroup Inc. raised their target price on Splunk from $62.00 to $65.00 and gave the stock a neutral rating in a report on Friday, August 26th. Finally, Oppenheimer Holdings Inc. reaffirmed an outperform rating and set a $80.00 target price on shares of Splunk in a report on Monday, August 29th. Eleven analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $68.15.

Shares of Splunk (NASDAQ:SPLK) opened at 59.21 on Monday. Splunk has a 12-month low of $29.85 and a 12-month high of $66.90. The company has a 50-day moving average price of $61.14 and a 200 day moving average price of $55.08. The company’s market capitalization is $7.97 billion.

Splunk (NASDAQ:SPLK) last posted its earnings results on Thursday, August 25th. The software company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. The firm had revenue of $212.80 million for the quarter, compared to analyst estimates of $200.52 million. Splunk had a negative return on equity of 38.45% and a negative net margin of 42.84%. Splunk’s revenue for the quarter was up 43.5% compared to the same quarter last year. During the same period last year, the company earned $0.03 earnings per share. On average, equities analysts anticipate that Splunk will post $0.29 earnings per share for the current fiscal year.

In related news, CFO David F. Conte sold 10,575 shares of Splunk stock in a transaction on Friday, August 12th. The stock was sold at an average price of $63.87, for a total value of $675,425.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Leonard R. Stein sold 1,075 shares of Splunk stock in a transaction on Monday, September 19th. The shares were sold at an average price of $60.00, for a total value of $64,500.00. Following the completion of the transaction, the senior vice president now owns 115,262 shares of the company’s stock, valued at $6,915,720. The disclosure for this sale can be found here. 3.00% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Splunk by 4.7% in the second quarter. Vanguard Group Inc. now owns 9,693,325 shares of the software company’s stock worth $525,184,000 after buying an additional 438,237 shares during the period. Baillie Gifford & Co. increased its stake in shares of Splunk by 0.9% in the second quarter. Baillie Gifford & Co. now owns 7,750,654 shares of the software company’s stock worth $419,930,000 after buying an additional 69,890 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Splunk by 31.7% in the second quarter. JPMorgan Chase & Co. now owns 4,642,643 shares of the software company’s stock worth $251,538,000 after buying an additional 1,118,339 shares during the period. Winslow Capital Management LLC increased its stake in shares of Splunk by 488.5% in the second quarter. Winslow Capital Management LLC now owns 4,021,073 shares of the software company’s stock worth $217,863,000 after buying an additional 3,337,773 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of Splunk by 4.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,359,248 shares of the software company’s stock worth $182,004,000 after buying an additional 143,029 shares during the period. Hedge funds and other institutional investors own 99.57% of the company’s stock.

About Splunk

Splunk Inc is a provider of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. It operates through the development and marketing of software solutions segment, which enables its customers to gain real-time operational intelligence by harnessing the value of their data.

5 Day Chart for NASDAQ:SPLK

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