Splunk Inc. (SPLK) Price Target Raised to $70.00
Splunk Inc. (NASDAQ:SPLK) had its price target boosted by Citigroup Inc. from $64.00 to $70.00 in a research report report published on Friday morning. They currently have a neutral rating on the software company’s stock.
SPLK has been the topic of a number of other research reports. Drexel Hamilton reiterated a buy rating and set a $93.00 target price on shares of Splunk in a report on Thursday, July 13th. Royal Bank Of Canada reiterated a buy rating and set a $75.00 target price on shares of Splunk in a report on Monday, July 31st. 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. Zacks Investment Research upgraded Splunk from a sell rating to a hold rating in a report on Wednesday, August 16th. Finally, Mitsubishi UFJ Financial Group reiterated a buy rating and set a $75.00 target price on shares of Splunk in a report on Friday. Eleven analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. The stock has an average rating of Buy and an average price target of $72.53.
Splunk (NASDAQ SPLK) opened at 64.48 on Friday. The stock’s 50 day moving average price is $59.92 and its 200 day moving average price is $61.47. The firm’s market capitalization is $8.97 billion. Splunk has a 52-week low of $50.64 and a 52-week high of $69.23.
Splunk (NASDAQ:SPLK) last released its quarterly earnings results on Thursday, August 24th. The software company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The business had revenue of $279.96 million during 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%. Splunk’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.05 EPS. On average, equities analysts anticipate 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 48,750 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $56.94, for a total value of $2,775,825.00. Following the transaction, the director now directly owns 843,290 shares of the company’s stock, valued at approximately $48,016,932.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO David F. Conte sold 1,044 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $62.20, for a total value of $64,936.80. Following the completion of the transaction, the chief financial officer now directly owns 207,965 shares in the company, valued at $12,935,423. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 558,056 shares of company stock worth $32,554,124. 3.00% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Splunk by 5.1% in the second quarter. Vanguard Group Inc. now owns 11,347,936 shares of the software company’s stock worth $645,584,000 after buying an additional 546,338 shares in the last quarter. BlackRock Inc. boosted its position in shares of Splunk by 2.1% in the second quarter. BlackRock Inc. now owns 7,075,105 shares of the software company’s stock worth $402,503,000 after buying an additional 143,138 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Splunk by 0.7% in the first quarter. Ameriprise Financial Inc. now owns 6,981,244 shares of the software company’s stock worth $434,861,000 after buying an additional 47,585 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of 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 worth $224,259,000 after buying an additional 1,128,410 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of 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 worth $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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