Splunk Coverage Initiated by Analysts at Goldman Sachs Group Inc. (SPLK)
Stock analysts at Goldman Sachs Group Inc. began coverage on shares of Splunk (NASDAQ:SPLK) in a report issued on Monday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating and a $69.00 price target on the stock. Goldman Sachs Group Inc.’s price target points to a potential upside of 11.33% from the stock’s previous close.
The analysts wrote, “We initiate coverage of Splunk, Inc. (ticker: SPLK) with a Neutral rating and a $69, 12-month price target. We view Splunk as an attractive pure play within the big data category and a market leader in the realm of machine data analytics. While we are optimistic on Splunk’s market opportunity and competitive positioning, we believe the shares offer limited upside near term given current valuation. SPLK currently trades at 19X CY14E EV/sales, which reflects a significant premium vs. high-growth SaaS compares at 10X even though Splunk has a perpetual license model and thus lacks the revenue visibility of SaaS peers.”
Shares of Splunk (NASDAQ:SPLK) traded down 4.34% on Monday, hitting $59.29. 794,418 shares of the company’s stock traded hands. Splunk has a 52-week low of $26.10 and a 52-week high of $63.34. The stock has a 50-day moving average of $54.16 and a 200-day moving average of $46.42. The company’s market cap is $6.273 billion.
Splunk (NASDAQ:SPLK) last posted its quarterly earnings results on Thursday, August 29th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.02. The company had revenue of $66.90 million for the quarter, compared to the consensus estimate of $62.97 million. During the same quarter in the previous year, the company posted ($0.01) earnings per share. The company’s revenue for the quarter was up 50.3% on a year-over-year basis. On average, analysts predict that Splunk will post $-0.01 earnings per share for the current fiscal year.
SPLK has been the subject of a number of other recent research reports. Analysts at Cantor Fitzgerald initiated coverage on shares of Splunk (NASDAQ:SPLK) in a research note to investors on Thursday. They set a “buy” rating and a $70.00 price target on the stock. Separately, analysts at Drexel Hamilton raised their price target on shares of Splunk (NASDAQ:SPLK) to $75.00 in a research note to investors on Tuesday, September 17th. Finally, analysts at Canaccord Genuity initiated coverage on shares of Splunk (NASDAQ:SPLK) in a research note to investors on Friday, September 6th. They set a “buy” rating and a $62.00 price target on the stock.
Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Splunk presently has a consensus rating of “Buy” and a consensus target price of $58.58.
In other Splunk news, Director Nicholas Sturiale sold 58,925 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $61.28, for a total value of $3,610,924.00. Following the completion of the sale, the director now directly owns 4,565 shares of the company’s stock, valued at approximately $279,743. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Splunk Inc (NASDAQ:SPLK) provides a software platform.
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