Splunk Inc. (SPLK) Given “Buy” Rating at Mitsubishi UFJ Financial Group
Mitsubishi UFJ Financial Group reaffirmed their buy rating on shares of Splunk Inc. (NASDAQ:SPLK) in a research report report published on Friday morning. Mitsubishi UFJ Financial Group currently has a $75.00 price target on the software company’s stock.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research upgraded Splunk from a hold rating to a buy rating and set a $69.00 target price for the company in a report on Thursday, June 1st. Maxim Group reiterated a buy rating on shares of Splunk in a report on Sunday, May 28th. Robert W. Baird set a $71.00 target price on Splunk and gave the stock a buy rating in a report on Saturday, May 27th. Guggenheim raised Splunk from a neutral rating to a buy rating and raised their price objective for the company from $69.00 to $70.00 in a research note on Thursday, June 22nd. Finally, BMO Capital Markets reissued a buy rating and issued a $71.00 price objective on shares of Splunk in a research note on Wednesday, July 12th. Eleven equities research analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. Splunk presently has an average rating of Buy and an average target price of $72.53.
Splunk (SPLK) opened at 64.48 on Friday. Splunk has a one year low of $50.64 and a one year high of $69.23. The firm has a 50 day moving average of $59.92 and a 200 day moving average of $61.47. The firm’s market capitalization is $8.97 billion.
Splunk (NASDAQ:SPLK) last issued its earnings results on Thursday, August 24th. The software company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.02. The business had revenue of $279.96 million during the quarter, compared to the consensus estimate of $268.72 million. Splunk had a negative return on equity of 75.18% and a negative net margin of 36.81%. The firm’s revenue for the quarter was up 31.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 earnings per share. Equities analysts forecast that Splunk will post $0.54 EPS for the current year.
In related news, SVP Leonard R. Stein sold 4,851 shares of the stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $58.20, for a total transaction of $282,328.20. Following the completion of the sale, the senior vice president now directly owns 103,909 shares in the company, valued at approximately $6,047,503.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Godfrey Sullivan sold 4,236 shares of the stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $61.77, for a total value of $261,657.72. Following the sale, the director now owns 818,456 shares of the company’s stock, valued at $50,556,027.12. The disclosure for this sale can be found here. Insiders sold a total of 558,056 shares of company stock valued at $32,554,124 over the last quarter. Company insiders own 3.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nationwide Fund Advisors raised its position in Splunk by 28.0% in the first quarter. Nationwide Fund Advisors now owns 159,900 shares of the software company’s stock worth $9,960,000 after buying an additional 34,950 shares during the last quarter. Gofen & Glossberg LLC IL raised its position in Splunk by 0.6% in the first quarter. Gofen & Glossberg LLC IL now owns 32,259 shares of the software company’s stock worth $2,009,000 after buying an additional 200 shares during the last quarter. Harbour Capital Advisors LLC acquired a new position in Splunk during the first quarter worth approximately $1,044,000. MARSHALL WACE ASIA Ltd acquired a new position in Splunk during the first quarter worth approximately $3,437,000. Finally, Clearbridge Investments LLC raised its position in Splunk by 19.2% in the first quarter. Clearbridge Investments LLC now owns 249,605 shares of the software company’s stock worth $15,548,000 after buying an additional 40,229 shares during 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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