Splunk (NASDAQ:SPLK) had its target price boosted by JPMorgan Chase & Co. from $108.00 to $115.00 in a research note 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. ValuEngine raised shares of Splunk from a buy rating to a strong-buy rating in a research note on Wednesday, May 2nd. JMP Securities lifted their target price on shares of Splunk from $108.00 to $120.00 and gave the company an outperform rating in a research note on Friday, May 25th. Zacks Investment Research raised shares of Splunk from a hold rating to a buy rating and set a $116.00 target price on the stock in a research note on Thursday, May 3rd. Wells Fargo & Co lifted their target price on shares of Splunk to $135.00 and gave the company an outperform rating in a research note on Friday, May 25th. Finally, Deutsche Bank lifted their target price on shares of Splunk from $115.00 to $130.00 and gave the company a buy rating in a research note on Friday, May 25th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $115.10.

SPLK stock opened at $123.69 on Friday. Splunk has a 12-month low of $62.39 and a 12-month high of $126.43. The stock has a market capitalization of $15.50 billion, a price-to-earnings ratio of -94.42 and a beta of 1.81.

Splunk (NASDAQ:SPLK) last announced its earnings results on Thursday, August 23rd. The software company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $388.30 million for the quarter, compared to analyst estimates of $358.46 million. Splunk had a negative net margin of 20.72% and a negative return on equity of 29.90%. The company’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.08 EPS. equities research analysts expect that Splunk will post -1.27 EPS for the current fiscal year.

In other news, CFO David F. Conte sold 15,517 shares of the company’s stock in a transaction that occurred on Wednesday, June 13th. The shares were sold at an average price of $117.93, for a total value of $1,829,919.81. Following the transaction, the chief financial officer now owns 152,333 shares in the company, valued at $17,964,630.69. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Douglas Merritt sold 32,949 shares of the company’s stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $117.90, for a total transaction of $3,884,687.10. Following the completion of the transaction, the insider now owns 293,095 shares in the company, valued at approximately $34,555,900.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,426 shares of company stock worth $8,319,665. Insiders own 0.36% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Splunk by 3.8% in the second quarter. BlackRock Inc. now owns 8,074,220 shares of the software company’s stock worth $800,235,000 after buying an additional 298,117 shares in the last quarter. Federated Investors Inc. PA lifted its stake in shares of Splunk by 5.2% in the first quarter. Federated Investors Inc. PA now owns 2,005,140 shares of the software company’s stock worth $197,286,000 after buying an additional 99,354 shares in the last quarter. FMR LLC lifted its stake in shares of Splunk by 3.6% in the second quarter. FMR LLC now owns 1,592,052 shares of the software company’s stock worth $157,789,000 after buying an additional 54,789 shares in the last quarter. Whale Rock Capital Management LLC bought a new position in shares of Splunk in the first quarter worth approximately $141,945,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Splunk by 16.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,074,978 shares of the software company’s stock worth $106,541,000 after buying an additional 149,894 shares in the last quarter. Hedge funds and other institutional investors own 92.23% of the company’s stock.

Splunk Company Profile

Splunk Inc provides software solutions that enable organizations to gain real-time operational intelligence in the United States and internationally. Its products enable users to collect, index, search, explore, monitor, correlate, and analyze data regardless of format or source. The company offers Splunk Enterprise, a machine data platform with collection, indexing, search, reporting, analysis, alerting, monitoring, and data management capabilities; and Splunk Cloud.

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Analyst Recommendations for Splunk (NASDAQ:SPLK)

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