Splunk (NASDAQ:SPLK) had its price objective reduced by analysts at Guggenheim from $125.00 to $115.00 in a research report issued on Friday, The Fly reports. The firm currently has a “neutral” rating on the software company’s stock. Guggenheim’s price target would suggest a potential downside of 10.67% from the stock’s current price.
Several other research analysts also recently commented on SPLK. BidaskClub raised Splunk from a “hold” rating to a “buy” rating in a research note on Friday, May 17th. Northland Securities reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Splunk in a research note on Friday. Wedbush reaffirmed an “outperform” rating and issued a $163.00 price objective (up previously from $159.00) on shares of Splunk in a research note on Friday. BMO Capital Markets upped their price objective on Splunk to $157.00 and gave the company an “outperform” rating in a research note on Friday. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded Splunk from a “hold” rating to a “sell” rating in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $143.42.
Shares of NASDAQ SPLK opened at $128.73 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.23 and a quick ratio of 3.23. The stock has a market cap of $20.44 billion, a price-to-earnings ratio of -80.96 and a beta of 2.03. Splunk has a 12 month low of $83.69 and a 12 month high of $143.70.
Splunk (NASDAQ:SPLK) last issued its earnings results on Thursday, May 23rd. The software company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.77) by $0.79. The firm had revenue of $424.90 million during the quarter, compared to the consensus estimate of $395.92 million. Splunk had a negative return on equity of 14.59% and a negative net margin of 15.28%. The business’s quarterly revenue was up 36.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. On average, sell-side analysts predict that Splunk will post -1.08 earnings per share for the current year.
In related news, Director Patricia Morrison sold 5,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $134.44, for a total value of $672,200.00. Following the completion of the sale, the director now directly owns 26,359 shares of the company’s stock, valued at approximately $3,543,703.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Timothy Tully sold 6,655 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $128.06, for a total value of $852,239.30. Following the completion of the sale, the senior vice president now directly owns 127,727 shares of the company’s stock, valued at $16,356,719.62. The disclosure for this sale can be found here. Insiders sold a total of 124,271 shares of company stock valued at $15,613,440 over the last three months. 0.36% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cable Hill Partners LLC purchased a new stake in shares of Splunk during the 1st quarter valued at $25,000. Berman Capital Advisors LLC purchased a new stake in shares of Splunk during the 4th quarter valued at $29,000. Bessemer Group Inc. increased its position in shares of Splunk by 192.2% during the 4th quarter. Bessemer Group Inc. now owns 301 shares of the software company’s stock valued at $32,000 after purchasing an additional 198 shares during the last quarter. Trustcore Financial Services LLC purchased a new stake in shares of Splunk during the 1st quarter valued at $37,000. Finally, Mirova increased its position in shares of Splunk by 41.8% during the 1st quarter. Mirova now owns 329 shares of the software company’s stock valued at $41,000 after purchasing an additional 97 shares during the last quarter.
Splunk Company Profile
Splunk, Inc engages in the development and marketing of software solutions. Its products include Splunk cloud, Splunk light, and Splunk enterprise. It also offers solutions for information technology operations, security, internet-of-things, application analytics, business analytics, and industries. The company was founded by Erik M.
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