Splunk Inc. (SPLK) Price Target Raised to $67.00
Splunk Inc. (NASDAQ:SPLK) had its price objective boosted by Barclays PLC from $65.00 to $67.00 in a report published on Friday morning. The firm currently has an equal weight rating on the software company’s stock.
Other research analysts have also issued research reports about the company. Zacks Investment Research upgraded Splunk from a sell rating to a hold rating in a report on Wednesday, August 16th. Cowen and Company restated a buy rating on shares of Splunk in a report on Friday, August 18th. MKM Partners restated a neutral rating and issued a $63.00 target price (up previously from $60.00) on shares of Splunk in a report on Tuesday, May 30th. Stifel Nicolaus restated a hold rating and issued a $61.00 target price on shares of Splunk in a report on Sunday, May 28th. Finally, Guggenheim upgraded Splunk from a neutral rating to a buy rating and raised their target price for the company from $69.00 to $70.00 in a report on Thursday, June 22nd. Eleven investment analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $72.53.
Splunk (NASDAQ:SPLK) opened at 64.48 on Friday. The company’s market cap is $8.97 billion. The stock’s 50 day moving average is $59.92 and its 200 day moving average is $61.47. Splunk has a 52-week low of $50.64 and a 52-week high of $69.23.
Splunk (NASDAQ:SPLK) last announced its quarterly earnings results on Thursday, August 24th. The software company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. The business had revenue of $279.96 million for the quarter, compared to analyst estimates of $268.72 million. Splunk had a negative return on equity of 75.18% and a negative net margin of 36.81%. The company’s quarterly revenue was up 31.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 earnings per share. On average, analysts predict that Splunk will post $0.54 earnings per share for the current fiscal year.
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In related news, Director Godfrey Sullivan sold 120,000 shares of Splunk stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $59.09, for a total transaction of $7,090,800.00. Following the completion of the sale, the director now owns 744,540 shares of the company’s stock, valued at $43,994,868.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Douglas Merritt sold 10,125 shares of Splunk stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $58.01, for a total value of $587,351.25. Following the sale, the insider now directly owns 231,440 shares of the company’s stock, valued at approximately $13,425,834.40. The disclosure for this sale can be found here. Insiders sold 558,056 shares of company stock valued at $32,554,124 over the last ninety days. Corporate insiders own 3.00% of the company’s stock.
A number of large investors have recently bought and sold shares of SPLK. Vanguard Group Inc. raised its stake in Splunk by 5.1% in the second quarter. Vanguard Group Inc. now owns 11,347,936 shares of the software company’s stock valued at $645,584,000 after buying an additional 546,338 shares in the last quarter. BlackRock Inc. raised its stake in Splunk by 2.1% in the second quarter. BlackRock Inc. now owns 7,075,105 shares of the software company’s stock valued at $402,503,000 after buying an additional 143,138 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Splunk by 0.7% in the first quarter. Ameriprise Financial Inc. now owns 6,981,244 shares of the software company’s stock valued at $434,861,000 after buying an additional 47,585 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Splunk by 40.1% in the second quarter. Bank of New York Mellon Corp now owns 3,942,003 shares of the software company’s stock valued at $224,259,000 after buying an additional 1,128,410 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in Splunk by 0.5% in the first quarter. Bank of America Corp DE now owns 3,076,286 shares of the software company’s stock valued at $191,622,000 after buying an additional 16,089 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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