Splunk Inc. (SPLK) Rating Reiterated by Cowen and Company
Cowen and Company reissued their buy rating on shares of Splunk Inc. (NASDAQ:SPLK) in a research report sent to investors on Thursday. They currently have a $72.00 price objective on the software company’s stock.
A number of other equities analysts have also recently weighed in on SPLK. Guggenheim raised shares of Splunk from a neutral rating to a buy rating and increased their price objective for the stock from $69.00 to $70.00 in a research report on Thursday, June 22nd. Robert W. Baird reissued an outperform rating and issued a $71.00 target price on shares of Splunk in a research report on Monday, July 10th. Wedbush lowered Splunk from an outperform rating to a neutral rating and cut their target price for the company from $72.00 to $63.00 in a research report on Thursday, June 15th. Zacks Investment Research cut Splunk from a buy rating to a sell rating in a research note on Thursday, July 27th. Finally, Mizuho restated a hold rating and set a $60.00 price target on shares of Splunk in a research note on Thursday, August 24th. Thirteen research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $72.78.
Shares of Splunk (NASDAQ:SPLK) opened at 66.43 on Thursday. The stock’s market capitalization is $9.30 billion. The firm has a 50 day moving average price of $63.07 and a 200 day moving average price of $61.94. Splunk has a one year low of $50.64 and a one year high of $69.61.
Splunk (NASDAQ:SPLK) last released its quarterly earnings results on Thursday, August 24th. The software company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The business had revenue of $279.96 million for the quarter, compared to the consensus estimate of $268.72 million. Splunk had a negative net margin of 36.81% and a negative return on equity of 75.81%. The business’s revenue was up 31.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.05 EPS. Analysts predict that Splunk will post $0.54 earnings per share for the current fiscal year.
In other Splunk news, Director Godfrey Sullivan sold 40,000 shares of Splunk stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $60.27, for a total value of $2,410,800.00. Following the transaction, the director now directly owns 789,540 shares in the company, valued at approximately $47,585,575.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Ledger Susan St. sold 677 shares of Splunk stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $69.52, for a total value of $47,065.04. Following the completion of the transaction, the senior vice president now owns 168,376 shares in the company, valued at $11,705,499.52. The disclosure for this sale can be found here. Insiders have sold 588,881 shares of company stock valued at $37,078,452 in the last quarter. Insiders own 1.43% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. TLP Group LLC acquired a new position in Splunk in the 1st quarter valued at $102,000. Patten Group Inc. raised its position in Splunk by 3.6% during the 1st quarter. Patten Group Inc. now owns 2,154 shares of the software company’s stock worth $131,000 after buying an additional 75 shares during the last quarter. ProShare Advisors LLC purchased a new position in Splunk during the 1st quarter worth $200,000. Migdal Insurance & Financial Holdings Ltd. raised its position in Splunk by 24.1% during the 2nd 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 during the last quarter. Finally, Suntrust Banks Inc. purchased a new position in Splunk during the 1st quarter worth $217,000.
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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