Splunk’s (SPLK) Neutral Rating Reaffirmed at Wedbush
Several other research analysts also recently weighed in on the company. KeyCorp reiterated a buy rating on shares of Splunk in a research note on Friday, October 27th. ValuEngine cut Splunk from a hold rating to a sell rating in a report on Wednesday, October 11th. Maxim Group reissued a buy rating and set a $79.00 price objective on shares of Splunk in a report on Friday, October 27th. Credit Suisse Group started coverage on Splunk in a report on Tuesday, September 5th. They set an outperform rating and a $80.00 price objective on the stock. Finally, Needham & Company LLC started coverage on Splunk in a report on Monday, October 23rd. They set a buy rating and a $95.00 price objective on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirty have given a buy rating to the company. Splunk currently has an average rating of Buy and a consensus price target of $80.92.
Splunk (SPLK) traded up $12.40 during mid-day trading on Friday, hitting $81.70. The stock had a trading volume of 13,198,619 shares, compared to its average volume of 1,627,646. Splunk has a 12 month low of $50.64 and a 12 month high of $81.99.
Splunk (NASDAQ:SPLK) last posted its quarterly earnings results on Thursday, November 16th. The software company reported $0.17 earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.59. The company had revenue of $328.65 million during the quarter, compared to the consensus estimate of $309.01 million. Splunk had a negative return on equity of 75.81% and a negative net margin of 36.81%. research analysts forecast that Splunk will post -1.47 earnings per share for the current fiscal year.
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In other news, Director Godfrey Sullivan sold 128,750 shares of Splunk stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $67.84, for a total value of $8,734,400.00. Following the sale, the director now directly owns 699,540 shares in the company, valued at approximately $47,456,793.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Ledger Susan St. sold 677 shares of Splunk stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $69.52, for a total value of $47,065.04. Following the completion of the sale, 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. Over the last quarter, insiders sold 599,197 shares of company stock worth $40,200,725. Corporate insiders own 1.43% of the company’s stock.
Several hedge funds have recently modified their holdings of SPLK. Patten Group Inc. grew its position in shares of Splunk by 1,048.8% in the 3rd quarter. Patten Group Inc. now owns 24,746 shares of the software company’s stock worth $143,000 after buying an additional 22,592 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Splunk by 24.1% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,375 shares of the software company’s stock valued at $195,000 after purchasing an additional 656 shares during the period. IFP Advisors Inc lifted its stake in shares of Splunk by 6.2% in the 2nd quarter. IFP Advisors Inc now owns 3,508 shares of the software company’s stock valued at $200,000 after purchasing an additional 204 shares during the period. Crossmark Global Holdings Inc. purchased a new position in shares of Splunk in the 3rd quarter valued at approximately $201,000. Finally, FDx Advisors Inc. purchased a new position in shares of Splunk in the 3rd quarter valued at approximately $210,000.
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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