Shares of Splunk Inc (NASDAQ:SPLK) have earned a consensus recommendation of “Buy” from the forty brokerages that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation, thirty-two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $112.03.
Several analysts have issued reports on the stock. Citigroup downgraded shares of Splunk from a “neutral” rating to a “sell” rating in a research note on Friday, June 15th. Piper Jaffray Companies raised their price objective on shares of Splunk from $115.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, May 21st. Maxim Group lifted their price target on shares of Splunk to $126.00 and gave the company a “buy” rating in a research note on Friday, May 25th. Deutsche Bank lifted their price target 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. Finally, BTIG Research lifted their price target on shares of Splunk to $130.00 and gave the company a “buy” rating in a research note on Friday, May 25th.
In related news, CFO David F. Conte sold 15,517 shares of Splunk stock in a transaction that occurred on Wednesday, June 13th. The shares were sold at an average price of $117.93, for a total transaction of $1,829,919.81. Following the transaction, the chief financial officer now directly owns 152,333 shares of the company’s stock, valued at $17,964,630.69. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas M. Neustaetter sold 4,070 shares of Splunk stock in a transaction on Tuesday, June 12th. The stock was sold at an average price of $118.70, for a total transaction of $483,109.00. Following the completion of the transaction, the director now directly owns 10,981 shares in the company, valued at $1,303,444.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,426 shares of company stock worth $8,319,665. 0.36% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPLK. Whale Rock Capital Management LLC purchased a new position in Splunk in the first quarter worth $141,945,000. Victory Capital Management Inc. grew its holdings in Splunk by 1,838.0% in the second quarter. Victory Capital Management Inc. now owns 485,866 shares of the software company’s stock worth $48,154,000 after purchasing an additional 460,796 shares during the last quarter. Millennium Management LLC grew its holdings in Splunk by 100.8% in the first quarter. Millennium Management LLC now owns 725,772 shares of the software company’s stock worth $71,409,000 after purchasing an additional 364,320 shares during the last quarter. First Trust Advisors LP grew its holdings in Splunk by 46.6% in the second quarter. First Trust Advisors LP now owns 984,523 shares of the software company’s stock worth $97,576,000 after purchasing an additional 312,893 shares during the last quarter. Finally, Frontier Capital Management Co. LLC purchased a new position in Splunk in the first quarter worth $30,588,000. 92.95% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ SPLK traded down $0.07 during trading on Wednesday, hitting $103.34. The stock had a trading volume of 32,591 shares, compared to its average volume of 1,773,394. The company has a market cap of $15.34 billion, a P/E ratio of -79.06 and a beta of 1.81. Splunk has a one year low of $58.60 and a one year high of $121.64.
Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Thursday, May 24th. The software company reported ($0.07) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.02. The business had revenue of $311.60 million during the quarter, compared to the consensus estimate of $297.58 million. Splunk had a negative net margin of 20.72% and a negative return on equity of 29.90%. The firm’s quarterly revenue was up 37.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.01) earnings per share. research analysts predict that Splunk will post -1.27 earnings per share for the current fiscal year.
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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