BidaskClub upgraded shares of Splunk (NASDAQ:SPLK) from a hold rating to a buy rating in a research report released on Wednesday morning.

A number of other brokerages also recently commented on SPLK. Zacks Investment Research upgraded Splunk from a hold rating to a buy rating and set a $100.00 price objective for the company in a research report on Friday, January 19th. Deutsche Bank raised their price objective on Splunk to $100.00 and gave the stock a buy rating in a research report on Monday, January 15th. Barclays upgraded Splunk from an equal weight rating to an overweight rating and raised their price objective for the stock from $80.00 to $105.00 in a research report on Monday, January 8th. Robert W. Baird raised their price objective on Splunk from $85.00 to $90.00 and gave the stock an outperform rating in a research report on Monday, December 18th. Finally, Citigroup reiterated a hold rating and issued a $73.00 price objective on shares of Splunk in a research report on Monday, November 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirty-one have issued a buy rating to the stock. Splunk currently has a consensus rating of Buy and a consensus price target of $84.29.

Shares of Splunk (NASDAQ SPLK) opened at $86.83 on Wednesday. Splunk has a 52-week low of $54.17 and a 52-week high of $93.68.

Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Thursday, November 16th. The software company reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.42) by $0.59. Splunk had a negative return on equity of 72.06% and a negative net margin of 32.72%. The company had revenue of $328.65 million during the quarter, compared to the consensus estimate of $309.01 million. research analysts predict that Splunk will post -1.3 EPS for the current fiscal year.

In related news, insider Douglas Merritt sold 10,126 shares of the firm’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $80.05, for a total transaction of $810,586.30. Following the completion of the sale, the insider now directly owns 189,079 shares of the company’s stock, valued at approximately $15,135,773.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Leonard R. Stein sold 4,851 shares of the firm’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $80.54, for a total value of $390,699.54. Following the sale, the senior vice president now directly owns 89,157 shares of the company’s stock, valued at $7,180,704.78. The disclosure for this sale can be found here. Insiders have sold a total of 190,720 shares of company stock valued at $13,408,318 over the last ninety days. Insiders own 1.43% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Zions Bancorporation acquired a new stake in Splunk during the 3rd quarter valued at $591,000. Royal Bank of Canada increased its holdings in Splunk by 13.5% during the 2nd quarter. Royal Bank of Canada now owns 52,243 shares of the software company’s stock valued at $2,972,000 after purchasing an additional 6,212 shares in the last quarter. Motley Fool Asset Management LLC increased its holdings in Splunk by 8.4% during the 3rd quarter. Motley Fool Asset Management LLC now owns 167,500 shares of the software company’s stock valued at $11,127,000 after purchasing an additional 13,000 shares in the last quarter. Advisor Group Inc. increased its holdings in Splunk by 51.4% during the 3rd quarter. Advisor Group Inc. now owns 6,126 shares of the software company’s stock valued at $406,000 after purchasing an additional 2,080 shares in the last quarter. Finally, Atria Investments LLC acquired a new stake in Splunk during the 4th quarter valued at $270,000.

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Splunk Company Profile

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)

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