MKM Partners Reiterates “Neutral” Rating for Splunk Inc. (SPLK)
MKM Partners restated their neutral rating on shares of Splunk Inc. (NASDAQ:SPLK) in a report released on Monday. The brokerage currently has a $68.00 price target on the software company’s stock, up from their prior price target of $63.00.
Other equities analysts have also recently issued research reports about the company. Wedbush reiterated an outperform rating and issued a $78.00 price objective on shares of Splunk in a research note on Monday, May 22nd. Royal Bank Of Canada boosted their target price on Splunk from $70.00 to $75.00 and gave the stock an outperform rating in a research note on Tuesday, May 23rd. Robert W. Baird set a $71.00 target price on Splunk and gave the stock a buy rating in a research note on Saturday, May 27th. Maxim Group restated a buy rating on shares of Splunk in a research note on Sunday, May 28th. Finally, Barclays PLC restated an equal weight rating and set a $65.00 target price (up previously from $63.00) on shares of Splunk in a research note on Sunday, May 28th. Eleven research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. Splunk currently has a consensus rating of Buy and a consensus target price of $72.53.
Shares of Splunk (SPLK) opened at 67.09 on Monday. The company has a 50-day moving average of $60.68 and a 200-day moving average of $61.57. Splunk has a 1-year low of $50.64 and a 1-year high of $69.23. The stock’s market capitalization is $9.33 billion.
Splunk (NASDAQ:SPLK) last announced its earnings results on Thursday, August 24th. The software company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Splunk had a negative return on equity of 75.18% and a negative net margin of 36.81%. The company had revenue of $279.96 million during the quarter, compared to analysts’ expectations of $268.72 million. During the same period last year, the business posted $0.05 EPS. Splunk’s revenue for the quarter was up 31.6% on a year-over-year basis. On average, equities research analysts expect that Splunk will post $0.54 EPS for the current fiscal year.
In related news, CFO David F. Conte sold 10,525 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $66.03, for a total value of $694,965.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Godfrey Sullivan sold 4,236 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $61.77, for a total value of $261,657.72. Following the completion of the sale, the director now directly owns 818,456 shares in the company, valued at approximately $50,556,027.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 567,237 shares of company stock worth $33,165,553. 3.00% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Nationwide Fund Advisors boosted its stake in Splunk by 28.0% in the first quarter. Nationwide Fund Advisors now owns 159,900 shares of the software company’s stock valued at $9,960,000 after buying an additional 34,950 shares in the last quarter. Gofen & Glossberg LLC IL boosted its stake in Splunk by 0.6% in the first quarter. Gofen & Glossberg LLC IL now owns 32,259 shares of the software company’s stock valued at $2,009,000 after buying an additional 200 shares in the last quarter. Harbour Capital Advisors LLC acquired a new stake in Splunk during the first quarter valued at approximately $1,044,000. MARSHALL WACE ASIA Ltd acquired a new stake in Splunk during the first quarter valued at approximately $3,437,000. Finally, Clearbridge Investments LLC boosted its stake in Splunk by 19.2% in the first quarter. Clearbridge Investments LLC now owns 249,605 shares of the software company’s stock valued at $15,548,000 after buying an additional 40,229 shares in the last quarter.
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.
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