Analysts’ Weekly Ratings Updates for Splunk (SPLK)

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Several brokerages have updated their recommendations and price targets on shares of Splunk (NASDAQ: SPLK) in the last few weeks:

  • 11/6/2018 – Splunk was downgraded by analysts at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating. They now have a $110.00 price target on the stock.
  • 11/2/2018 – Splunk was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating.
  • 10/27/2018 – Splunk was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating.
  • 10/24/2018 – Splunk was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Splunk Inc. provides a software platform, which collects and indexes data and enables users to search, correlate, analyze, monitor and report on this data, all in real time. Its software is designed to help users in various roles, including IT and business professionals. Splunk Inc. is based in San Francisco, California. “
  • 10/9/2018 – Splunk was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 10/7/2018 – Splunk had its “buy” rating reaffirmed by analysts at Rosenblatt Securities. They wrote, “We come away from Splunk’s annual user conference (“.conf”) with increased convic- tion that the business momentum remains very strong with customers reacting very positively to several parts of the new Enterprise 7.2 release which we believe could drive more expansion. Attendance at the event was up over 40% from last year, a further sign of accelerating momentum. We believe the combination of significant innovation, go -to-market execution (i.e., solution selling and focus on ratable revenue) and customer success set the company up for continuing outperformance. We reiter- ate our Buy rating and $135 price target.””
  • 10/6/2018 – Splunk was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Splunk Inc. provides a software platform, which collects and indexes data and enables users to search, correlate, analyze, monitor and report on this data, all in real time. Its software is designed to help users in various roles, including IT and business professionals. Splunk Inc. is based in San Francisco, California. “
  • 10/4/2018 – Splunk had its price target raised by analysts at KeyCorp from $120.00 to $132.00. They now have an “overweight” rating on the stock.
  • 10/4/2018 – Splunk was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $126.00 price target on the stock. According to Zacks, “Splunk Inc. provides a software platform, which collects and indexes data and enables users to search, correlate, analyze, monitor and report on this data, all in real time. Its software is designed to help users in various roles, including IT and business professionals. Splunk Inc. is based in San Francisco, California. “
  • 10/3/2018 – Splunk had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $130.00 price target on the stock.
  • 9/20/2018 – Splunk was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.

Shares of NASDAQ SPLK traded down $3.19 during trading on Friday, reaching $98.54. The company had a trading volume of 1,862,854 shares, compared to its average volume of 2,031,528. Splunk Inc has a twelve month low of $67.01 and a twelve month high of $130.00. The stock has a market cap of $13.77 billion, a price-to-earnings ratio of -75.22 and a beta of 2.15.

Splunk (NASDAQ:SPLK) last released its quarterly earnings results on Thursday, August 23rd. The software company reported $0.08 earnings per share 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 company had revenue of $388.30 million during the quarter, compared to analysts’ expectations of $358.46 million. During the same period in the previous year, the firm posted $0.08 earnings per share. The business’s revenue for the quarter was up 38.6% compared to the same quarter last year. As a group, analysts forecast that Splunk Inc will post -1.15 EPS for the current fiscal year.

In related news, Director Mark T. Carges sold 2,091 shares of the company’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $124.87, for a total value of $261,103.17. Following the completion of the transaction, the director now directly owns 19,444 shares in the company, valued at $2,427,972.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas Merritt sold 23,572 shares of the company’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $124.58, for a total value of $2,936,599.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,032 shares of company stock valued at $8,640,864. Insiders own 0.36% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. FIL Ltd grew its position in Splunk by 182.3% during the third quarter. FIL Ltd now owns 1,565,684 shares of the software company’s stock valued at $189,307,000 after acquiring an additional 1,011,095 shares during the period. Victory Capital Management Inc. grew its position in Splunk by 1,838.0% during the second quarter. Victory Capital Management Inc. now owns 485,866 shares of the software company’s stock valued at $48,154,000 after acquiring an additional 460,796 shares during the period. First Trust Advisors LP grew its position in Splunk by 46.6% during the second quarter. First Trust Advisors LP now owns 984,523 shares of the software company’s stock valued at $97,576,000 after acquiring an additional 312,893 shares during the period. FMR LLC grew its position in Splunk by 36.4% during the third quarter. FMR LLC now owns 1,159,890 shares of the software company’s stock valued at $140,242,000 after acquiring an additional 309,395 shares during the period. Finally, Ardevora Asset Management LLP purchased a new stake in Splunk during the second quarter valued at about $29,605,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

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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