Shares of Splunk Inc (NASDAQ:SPLK) have received an average rating of “Buy” from the thirty-nine ratings firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $127.35.

Several brokerages have recently commented on SPLK. Zacks Investment Research upgraded shares of Splunk from a “hold” rating to a “buy” rating and set a $123.00 target price for the company in a report on Thursday, December 6th. BidaskClub upgraded shares of Splunk from a “hold” rating to a “buy” rating in a report on Tuesday, November 27th. ValuEngine upgraded shares of Splunk from a “buy” rating to a “strong-buy” rating in a report on Friday, November 2nd. BMO Capital Markets lowered their target price on shares of Splunk from $133.00 to $132.00 and set an “outperform” rating for the company in a report on Friday, November 30th. Finally, Wedbush decreased their price objective on shares of Splunk from $136.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, November 30th.

In other Splunk news, Director Godfrey Sullivan sold 8,750 shares of Splunk stock in a transaction that occurred on Monday, December 10th. The shares were sold at an average price of $104.24, for a total transaction of $912,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark T. Carges sold 4,171 shares of Splunk stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $110.00, for a total transaction of $458,810.00. Following the sale, the director now owns 15,273 shares of the company’s stock, valued at $1,680,030. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,965 shares of company stock valued at $4,786,938. 0.36% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in SPLK. Taikang Asset Management Hong Kong Co Ltd raised its stake in shares of Splunk by 17.2% during the fourth quarter. Taikang Asset Management Hong Kong Co Ltd now owns 15,566 shares of the software company’s stock worth $1,632,000 after acquiring an additional 2,280 shares in the last quarter. ETRADE Capital Management LLC increased its stake in shares of Splunk by 1.7% in the fourth quarter. ETRADE Capital Management LLC now owns 6,182 shares of the software company’s stock worth $648,000 after buying an additional 104 shares during the period. Nikko Asset Management Americas Inc. increased its stake in shares of Splunk by 24.8% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 907,424 shares of the software company’s stock worth $95,143,000 after buying an additional 180,314 shares during the period. Utah Retirement Systems increased its stake in shares of Splunk by 0.4% in the fourth quarter. Utah Retirement Systems now owns 27,100 shares of the software company’s stock worth $2,841,000 after buying an additional 100 shares during the period. Finally, Westfield Capital Management Co. LP increased its stake in shares of Splunk by 12.6% in the fourth quarter. Westfield Capital Management Co. LP now owns 645,742 shares of the software company’s stock worth $67,706,000 after buying an additional 72,281 shares during the period. Institutional investors and hedge funds own 90.75% of the company’s stock.

Shares of SPLK stock traded up $1.07 on Wednesday, hitting $131.96. The stock had a trading volume of 13,142 shares, compared to its average volume of 1,286,347. The company has a market cap of $19.43 billion, a P/E ratio of -100.97 and a beta of 2.11. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.84 and a quick ratio of 3.84. Splunk has a 12-month low of $82.63 and a 12-month high of $131.43.

Splunk (NASDAQ:SPLK) last announced its earnings results on Thursday, November 29th. The software company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.61. The company had revenue of $480.98 million during the quarter, compared to the consensus estimate of $433.60 million. Splunk had a negative net margin of 18.92% and a negative return on equity of 20.60%. The firm’s revenue for the quarter was up 40.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.17 earnings per share. As a group, research analysts expect that Splunk will post -1.07 earnings per share for the current fiscal year.

About Splunk

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

Featured Article: Asset Allocation and Your Retirement

Analyst Recommendations for Splunk (NASDAQ:SPLK)

Receive News & Ratings for Splunk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Splunk and related companies with MarketBeat.com's FREE daily email newsletter.