Splunk (NASDAQ:SPLK) had its price objective lifted by Barclays from $127.00 to $136.00 in a research report released on Friday morning. They currently have an overweight rating on the software company’s stock.
A number of other brokerages also recently commented on SPLK. Citigroup downgraded Splunk from a neutral rating to a sell rating in a research report on Friday, June 15th. JPMorgan Chase & Co. boosted their price objective on Splunk from $108.00 to $115.00 and gave the stock a neutral rating in a research report on Friday, August 24th. Bank of America boosted their price objective on Splunk from $128.00 to $135.00 and gave the stock a buy rating in a research report on Thursday, August 16th. Credit Suisse Group upped their price target on Splunk from $115.00 to $125.00 and gave the company an outperform rating in a report on Friday, May 25th. Finally, Rosenblatt Securities reaffirmed a buy rating and issued a $135.00 price target on shares of Splunk in a report on Sunday, August 26th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-one have given a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $121.43.
Shares of Splunk stock traded up $1.93 on Friday, reaching $125.36. 1,572,581 shares of the company were exchanged, compared to its average volume of 2,227,844. Splunk has a 1-year low of $62.39 and a 1-year high of $130.00. The company has a market cap of $17.90 billion, a PE ratio of -95.69 and a beta of 2.08.
Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Thursday, August 23rd. The software company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.03. Splunk had a negative return on equity of 26.44% and a negative net margin of 20.55%. The business had revenue of $388.30 million during the quarter, compared to the consensus estimate of $358.46 million. During the same period in the previous year, the company posted $0.08 earnings per share. The business’s revenue for the quarter was up 38.6% on a year-over-year basis. analysts forecast that Splunk will post -1.15 EPS for the current year.
In other Splunk news, SVP Leonard R. Stein sold 13,890 shares of the business’s stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $117.92, for a total value of $1,637,908.80. Following the completion of the sale, the senior vice president now owns 118,263 shares in the company, valued at $13,945,572.96. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Graham Smith sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $121.01, for a total value of $484,040.00. Following the completion of the sale, the director now owns 53,226 shares of the company’s stock, valued at approximately $6,440,878.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,426 shares of company stock valued at $8,319,665. 0.36% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of SPLK. WINTON GROUP Ltd raised its stake in shares of Splunk by 19.3% during the second quarter. WINTON GROUP Ltd now owns 4,277 shares of the software company’s stock worth $424,000 after purchasing an additional 692 shares during the last quarter. Nomura Holdings Inc. raised its stake in shares of Splunk by 212.2% during the second quarter. Nomura Holdings Inc. now owns 12,723 shares of the software company’s stock worth $1,261,000 after purchasing an additional 8,648 shares during the last quarter. Cowen Inc. raised its stake in shares of Splunk by 66.4% during the second quarter. Cowen Inc. now owns 42,834 shares of the software company’s stock worth $4,245,000 after purchasing an additional 17,100 shares during the last quarter. Global X Management Co LLC purchased a new stake in shares of Splunk during the second quarter worth approximately $471,000. Finally, Bank of Nova Scotia purchased a new stake in shares of Splunk during the second quarter worth approximately $7,334,000. Institutional investors own 89.73% 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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