Northland Securities reiterated their buy rating on shares of Splunk Inc. (NASDAQ:SPLK) in a report published on Thursday morning. Northland Securities currently has a $80.00 price target on the software company’s stock.

Other equities research analysts have also recently issued research reports about the company. Guggenheim upgraded Splunk from a neutral rating to a buy rating and upped their price objective for the stock from $69.00 to $70.00 in a research note on Thursday, June 22nd. Royal Bank Of Canada reiterated a buy rating and set a $75.00 price objective on shares of Splunk in a research note on Monday, July 31st. Drexel Hamilton reiterated a buy rating and set a $93.00 price objective on shares of Splunk in a research note on Thursday, July 13th. Zacks Investment Research upgraded Splunk from a hold rating to a buy rating and set a $65.00 price objective on the stock in a research note on Wednesday, July 12th. Finally, BMO Capital Markets reiterated a buy rating and set a $71.00 price objective on shares of Splunk in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-eight have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $73.27.

Shares of Splunk (NASDAQ SPLK) traded up 0.80% during trading on Thursday, reaching $64.09. The company’s stock had a trading volume of 830,496 shares. Splunk has a 52 week low of $50.64 and a 52 week high of $69.61. The stock’s 50 day moving average price is $66.56 and its 200 day moving average price is $62.64. The company’s market cap is $8.97 billion.

Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Thursday, August 24th. The software company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. Splunk had a negative return on equity of 75.81% and a negative net margin of 36.81%. The company had revenue of $279.96 million for the quarter, compared to analysts’ expectations of $268.72 million. During the same quarter in the prior year, the business posted $0.05 EPS. The business’s revenue was up 31.6% compared to the same quarter last year. Equities research analysts predict that Splunk will post $0.54 EPS for the current year.

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In other Splunk news, SVP Ledger Susan St. sold 677 shares of the stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $69.52, for a total value of $47,065.04. Following the completion of the transaction, the senior vice president now directly owns 168,376 shares in the company, valued at $11,705,499.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Godfrey Sullivan sold 40,000 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $58.13, for a total value of $2,325,200.00. Following the completion of the transaction, the director now owns 744,540 shares of the company’s stock, valued at $43,280,110.20. The disclosure for this sale can be found here. Insiders sold 628,881 shares of company stock valued at $40,315,252 over the last quarter. Corporate insiders own 1.43% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Sit Investment Associates Inc. raised its position in Splunk by 23.4% in the third quarter. Sit Investment Associates Inc. now owns 24,275 shares of the software company’s stock valued at $1,613,000 after purchasing an additional 4,600 shares during the last quarter. Perigon Wealth Management LLC raised its position in Splunk by 302.7% in the second quarter. Perigon Wealth Management LLC now owns 28,332 shares of the software company’s stock valued at $1,612,000 after purchasing an additional 21,297 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Splunk by 7.5% in the second quarter. Public Employees Retirement System of Ohio now owns 49,910 shares of the software company’s stock valued at $2,839,000 after purchasing an additional 3,483 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Splunk by 39.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 32,533 shares of the software company’s stock valued at $1,851,000 after purchasing an additional 9,165 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Splunk by 8.5% in the second quarter. The Manufacturers Life Insurance Company now owns 4,950 shares of the software company’s stock valued at $282,000 after purchasing an additional 389 shares during the last quarter.

About Splunk

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.

Analyst Recommendations for Splunk (NASDAQ:SPLK)

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