Splunk Lowered to “Hold” at Needham & Company (SPLK)
Splunk (NASDAQ:SPLK) was downgraded by research analysts at Needham & Company from a “buy” rating to a “hold” rating in a report released on Wednesday, TheFlyOnTheWall.com reports.
In other Splunk news, Director Thomas Neustaetter sold 1,500 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $60.50, for a total transaction of $90,750.00. Following the transaction, the director now directly owns 97,103 shares of the company’s stock, valued at approximately $5,874,732. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Several other analysts have also recently commented on the stock. Analysts at FBR Capital Markets raised their price target on shares of Splunk (NASDAQ:SPLK) from $61.00 to $75.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Northland Securities initiated coverage on shares of Splunk (NASDAQ:SPLK) in a research note to investors on Tuesday, September 24th. They set a “market perform” rating and a $68.00 price target on the stock. Finally, analysts at Northland Capital Partners initiated coverage on shares of Splunk (NASDAQ:SPLK) in a research note to investors on Tuesday, September 24th. They set a “market perform” rating and a $68.00 price target on the stock. Nine analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Splunk currently has an average rating of “Buy” and a consensus target price of $60.57.
Splunk (NASDAQ:SPLK) traded up 0.31% during mid-day trading on Wednesday, hitting $61.69. 282,466 shares of the company’s stock traded hands. Splunk has a one year low of $26.10 and a one year high of $63.34. The stock’s 50-day moving average is $55.90 and its 200-day moving average is $47.68. The company’s market cap is $6.527 billion.
Splunk (NASDAQ:SPLK) last released its earnings data 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.
Splunk Inc (NASDAQ:SPLK) provides a software platform.
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