Splunk Inc. (SPLK) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Splunk Inc. (NASDAQ:SPLK) have been assigned an average recommendation of “Buy” from the thirty-eight analysts that are currently covering the stock, Marketbeat Ratings reports. Eleven investment analysts have rated the stock with a hold recommendation and twenty-seven have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $72.77.
Several equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Splunk from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Cowen and Company reaffirmed a “buy” rating on shares of Splunk in a report on Friday, August 18th. MKM Partners reaffirmed a “neutral” rating and issued a $63.00 price target (up from $60.00) on shares of Splunk in a report on Tuesday, May 30th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $61.00 price target on shares of Splunk in a report on Sunday, May 28th. Finally, Guggenheim raised shares of Splunk from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $69.00 to $70.00 in a report on Thursday, June 22nd.
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In other news, CFO David F. Conte sold 10,525 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $66.03, for a total transaction of $694,965.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Godfrey Sullivan sold 40,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $58.13, for a total transaction of $2,325,200.00. Following the sale, the director now directly owns 744,540 shares of the company’s stock, valued at approximately $43,280,110.20. The disclosure for this sale can be found here. Insiders have sold 568,581 shares of company stock valued at $33,249,090 in the last three months. Corporate insiders own 3.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in SPLK. TLP Group LLC bought a new stake in Splunk during the first quarter worth approximately $102,000. Patten Group Inc. boosted its stake in Splunk by 3.6% in the first quarter. Patten Group Inc. now owns 2,154 shares of the software company’s stock worth $131,000 after buying an additional 75 shares in the last quarter. Acrospire Investment Management LLC boosted its stake in Splunk by 79.9% in the first quarter. Acrospire Investment Management LLC now owns 2,701 shares of the software company’s stock worth $168,000 after buying an additional 1,200 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Splunk by 24.1% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,375 shares of the software company’s stock worth $195,000 after buying an additional 656 shares in the last quarter. Finally, ProShare Advisors LLC bought a new stake in Splunk during the first quarter worth approximately $200,000.
Splunk (SPLK) traded up 1.90% on Wednesday, hitting $65.60. The stock had a trading volume of 1,079,769 shares. The stock has a 50 day moving average price of $59.92 and a 200 day moving average price of $61.47. The company’s market cap is $9.12 billion. Splunk has a 1-year low of $50.64 and a 1-year high of $69.23.
Splunk (NASDAQ:SPLK) last issued its quarterly earnings data on Thursday, August 24th. The software company reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.02. The company had revenue of $279.96 million for the quarter, compared to analyst estimates of $268.72 million. Splunk had a negative net margin of 36.81% and a negative return on equity of 75.18%. Splunk’s revenue was up 31.6% compared to the same quarter last year. During the same period last year, the company posted $0.05 earnings per share. On average, equities research analysts expect that Splunk will post $0.54 EPS for the current fiscal year.
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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