Northland Securities reiterated their buy rating on shares of Splunk (NASDAQ:SPLK) in a research note released on Friday morning, AnalystRatings.com reports. The firm currently has a $160.00 price target on the software company’s stock.

A number of other research analysts have also commented on the stock. BidaskClub raised shares of Splunk from a hold rating to a buy rating in a research report on Friday, May 17th. Piper Jaffray Companies increased their price target on shares of Splunk to $160.00 and gave the stock an overweight rating in a research report on Wednesday, February 27th. Needham & Company LLC reissued a buy rating and issued a $162.00 price target (up previously from $145.00) on shares of Splunk in a research report on Friday, March 1st. Monness Crespi & Hardt reissued a buy rating and issued a $200.00 price target (up previously from $170.00) on shares of Splunk in a research report on Friday, March 1st. Finally, Maxim Group increased their price target on shares of Splunk to $159.00 and gave the stock a buy rating in a research report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-eight have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $143.98.

SPLK stock opened at $119.30 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.23 and a quick ratio of 3.23. Splunk has a 52-week low of $83.69 and a 52-week high of $143.70. The stock has a market cap of $17.91 billion, a price-to-earnings ratio of -75.03 and a beta of 2.03.

Splunk (NASDAQ:SPLK) last released its quarterly earnings results on Thursday, May 23rd. The software company reported ($0.85) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.77) by ($0.08). Splunk had a negative net margin of 15.28% and a negative return on equity of 14.59%. The firm had revenue of $424.90 million for the quarter, compared to the consensus estimate of $395.92 million. During the same quarter last year, the company earned ($0.07) earnings per share. The firm’s revenue was up 36.4% on a year-over-year basis. As a group, equities analysts anticipate that Splunk will post -1.08 EPS for the current fiscal year.

In other news, SVP Timothy Tully sold 6,655 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $128.06, for a total transaction of $852,239.30. Following the sale, the senior vice president now directly owns 127,727 shares of the company’s stock, valued at $16,356,719.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David F. Conte sold 7,820 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $128.05, for a total transaction of $1,001,351.00. Following the sale, the chief financial officer now directly owns 116,056 shares in the company, valued at $14,860,970.80. The disclosure for this sale can be found here. Insiders have sold 124,271 shares of company stock worth $15,613,440 over the last three months. 0.36% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the business. Cable Hill Partners LLC bought a new position in Splunk in the first quarter valued at approximately $25,000. Berman Capital Advisors LLC bought a new position in Splunk in the fourth quarter valued at approximately $29,000. Trustcore Financial Services LLC bought a new position in Splunk in the first quarter valued at approximately $37,000. Bessemer Group Inc. boosted its stake in Splunk by 192.2% in the fourth quarter. Bessemer Group Inc. now owns 301 shares of the software company’s stock valued at $32,000 after acquiring an additional 198 shares during the last quarter. Finally, Mirova boosted its stake in Splunk by 41.8% in the first quarter. Mirova now owns 329 shares of the software company’s stock valued at $41,000 after acquiring an additional 97 shares during the last quarter.

About Splunk

Splunk, Inc engages in the development and marketing of software solutions. Its products include Splunk cloud, Splunk light, and Splunk enterprise. It also offers solutions for information technology operations, security, internet-of-things, application analytics, business analytics, and industries. The company was founded by Erik M.

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Analyst Recommendations for Splunk (NASDAQ:SPLK)

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