Splunk (NASDAQ:SPLK)‘s stock had its “buy” rating restated by analysts at Maxim Group in a research note issued to investors on Monday, MarketBeat reports. They presently have a $148.00 target price on the software company’s stock, down from their prior target price of $159.00. Maxim Group’s target price suggests a potential upside of 34.28% from the company’s current price.

SPLK has been the topic of a number of other reports. BidaskClub lowered shares of Splunk from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 5th. Raymond James boosted their target price on shares of Splunk from $122.00 to $157.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Wedbush boosted their target price on shares of Splunk from $146.00 to $159.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Zacks Investment Research cut shares of Splunk from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. Finally, Morgan Stanley set a $121.00 target price on shares of Splunk and gave the company a “hold” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-four have assigned a buy rating to the stock. Splunk has a consensus rating of “Buy” and an average target price of $145.11.

NASDAQ:SPLK traded up $1.17 during trading hours on Monday, hitting $110.22. 258,889 shares of the stock traded hands, compared to its average volume of 2,028,623. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 1.07. Splunk has a fifty-two week low of $83.69 and a fifty-two week high of $143.70. The company has a market cap of $17.12 billion, a P/E ratio of -69.32 and a beta of 2.14.

Splunk (NASDAQ:SPLK) last announced its earnings results on Thursday, May 23rd. The software company reported ($0.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.77) by ($0.08). Splunk had a negative net margin of 16.31% and a negative return on equity of 15.16%. The firm had revenue of $424.90 million for the quarter, compared to analyst estimates of $395.92 million. During the same period last year, the firm earned ($0.07) earnings per share. Splunk’s revenue for the quarter was up 36.4% compared to the same quarter last year. Equities research analysts anticipate that Splunk will post -0.99 earnings per share for the current year.

In other news, SVP Timothy Tully sold 6,655 shares of the business’s stock in a transaction 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 owns 127,727 shares in the company, valued at approximately $16,356,719.62. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Godfrey Sullivan sold 8,750 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $123.00, for a total transaction of $1,076,250.00. Following the sale, the director now owns 182,155 shares in the company, valued at approximately $22,405,065. The disclosure for this sale can be found here. Insiders sold 111,451 shares of company stock worth $13,939,889 over the last ninety days. 0.36% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in SPLK. Norges Bank purchased a new stake in Splunk during the 4th quarter valued at $210,940,000. Wellington Management Group LLP raised its holdings in shares of Splunk by 63.6% in the 1st quarter. Wellington Management Group LLP now owns 3,372,991 shares of the software company’s stock valued at $420,275,000 after buying an additional 1,311,025 shares during the period. Pictet Asset Management Ltd. raised its holdings in shares of Splunk by 28.9% in the 1st quarter. Pictet Asset Management Ltd. now owns 2,598,685 shares of the software company’s stock valued at $323,796,000 after buying an additional 582,919 shares during the period. FIL Ltd raised its holdings in shares of Splunk by 137.0% in the 1st quarter. FIL Ltd now owns 762,619 shares of the software company’s stock valued at $95,023,000 after buying an additional 440,879 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of Splunk by 5.1% in the 1st quarter. BlackRock Inc. now owns 8,494,532 shares of the software company’s stock valued at $1,058,421,000 after buying an additional 408,840 shares during the period.

Splunk Company Profile

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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