Splunk Inc. (NASDAQ:SPLK) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

SPLK has been the topic of several other reports. KeyCorp restated a “buy” rating and issued a $70.00 target price on shares of Splunk in a research note on Friday, August 25th. Mitsubishi UFJ Financial Group restated a “buy” rating and issued a $75.00 target price on shares of Splunk in a research note on Friday, August 25th. Guggenheim restated a “buy” rating and issued a $70.00 target price on shares of Splunk in a research note on Saturday, August 19th. BMO Capital Markets raised their target price on shares of Splunk from $69.00 to $71.00 and gave the stock an “outperform” rating in a research note on Friday, August 25th. Finally, Susquehanna Bancshares Inc upgraded shares of Splunk from a “neutral” rating to a “positive” rating and set a $68.00 target price for the company in a research note on Friday, August 25th. Twelve investment analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. Splunk presently has an average rating of “Buy” and a consensus price target of $72.53.

Shares of Splunk (NASDAQ SPLK) traded up 0.46% on Friday, hitting $67.40. 1,429,293 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $60.87 and its 200 day moving average price is $61.60. The stock’s market cap is $9.37 billion. Splunk has a 12-month low of $50.64 and a 12-month 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, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.02. Splunk had a negative net margin of 36.81% and a negative return on equity of 75.18%. The company had revenue of $279.96 million for the quarter, compared to the consensus estimate of $268.72 million. During the same period last year, the firm posted $0.05 EPS. Splunk’s revenue for the quarter was up 31.6% on a year-over-year basis. On average, equities analysts predict that Splunk will post $0.54 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This article was reported by Watch List News and is the sole property of of Watch List News. If you are viewing this article on another website, it was copied illegally and reposted in violation of US & international copyright & trademark law. The correct version of this article can be viewed at https://www.watchlistnews.com/splunk-inc-splk-rating-increased-to-hold-at-valuengine/1536959.html.

In related news, CFO David F. Conte sold 10,525 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $66.03, for a total value of $694,965.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Godfrey Sullivan sold 120,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 567,237 shares of company stock valued at $33,165,553. 3.00% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased 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. increased 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. increased 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 increased 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 increased 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.

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)

Receive News & Ratings for Splunk Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Splunk Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.