Splunk Lowered to “Equal Weight” at Barclays (SPLK)
Splunk (NASDAQ:SPLK) was downgraded by Barclays from an “overweight” rating to an “equal weight” rating in a research note issued on Friday, Analyst RN reports. They currently have a $72.00 target price on the stock. Barclays’ price target suggests a potential downside of 3.46% from the company’s current price. The analysts noted that the move was a valuation call.
In other Splunk news, CMO Steven Sommer sold 33,098 shares of the company’s stock on the open market in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $74.71, for a total value of $2,472,751.58. Following the completion of the sale, the chief marketing officer now directly owns 150,112 shares of the company’s stock, valued at approximately $11,214,868. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
SPLK has been the subject of a number of other recent research reports. Analysts at UBS AG upgraded shares of Splunk from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday. Separately, analysts at Oppenheimer initiated coverage on shares of Splunk in a research note to investors on Tuesday, December 3rd. They set an “outperform” rating and a $80.00 price target on the stock. Finally, analysts at FBN Securities raised their price target on shares of Splunk from $65.00 to $75.00 in a research note to investors on Friday, November 22nd. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $68.95.
Splunk Inc (NASDAQ:SPLK) provides a software platform.
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