Splunk Inc. (NASDAQ:SPLK) had its price objective boosted by stock analysts at FBN Securities to $90.00 in a report issued on Friday. The brokerage presently has an “outperform” rating on the software company’s stock. FBN Securities’ target price would suggest a potential upside of 10.16% from the stock’s current price.

A number of other brokerages have also issued reports on SPLK. Drexel Hamilton reissued a “buy” rating and issued a $93.00 target price on shares of Splunk in a research report on Thursday. Jefferies Group LLC reissued a “buy” rating and issued a $88.00 target price on shares of Splunk in a research report on Friday. Wells Fargo & Company reissued a “buy” rating and issued a $95.00 target price on shares of Splunk in a research report on Friday. Mizuho raised Splunk from a “neutral” rating to a “buy” rating and boosted their target price for the company from $60.00 to $90.00 in a research report on Friday. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $90.00 target price (up previously from $76.00) on shares of Splunk in a research report on Friday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirty have assigned a buy rating to the stock. Splunk has a consensus rating of “Buy” and an average price target of $80.92.

Shares of Splunk (SPLK) traded up $12.40 during midday trading on Friday, reaching $81.70. The company’s stock had a trading volume of 13,198,619 shares, compared to its average volume of 1,541,233. Splunk has a 52 week low of $50.64 and a 52 week high of $81.99.

Splunk (NASDAQ:SPLK) last announced its earnings results on Thursday, November 16th. The software company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.59. The company had revenue of $328.65 million for the quarter, compared to analyst estimates of $309.01 million. Splunk had a negative return on equity of 71.89% and a negative net margin of 32.72%. equities research analysts expect that Splunk will post -1.43 EPS for the current year.

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In related news, CFO David F. Conte sold 10,525 shares of the 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 can be accessed through this link. Also, 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 transaction of $47,065.04. Following the transaction, the senior vice president now directly owns 168,376 shares of the company’s stock, valued at $11,705,499.52. The disclosure for this sale can be found here. Insiders have sold 599,197 shares of company stock valued at $40,200,725 in the last quarter. Insiders own 1.43% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Patten Group Inc. raised its holdings in Splunk by 1,048.8% during the third quarter. Patten Group Inc. now owns 24,746 shares of the software company’s stock worth $143,000 after purchasing an additional 22,592 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Splunk by 24.1% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,375 shares of the software company’s stock worth $195,000 after purchasing an additional 656 shares in the last quarter. IFP Advisors Inc raised its holdings in Splunk by 6.2% during the second quarter. IFP Advisors Inc now owns 3,508 shares of the software company’s stock worth $200,000 after purchasing an additional 204 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in Splunk during the third quarter worth about $201,000. Finally, FDx Advisors Inc. purchased a new position in Splunk during the third quarter worth about $210,000.

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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