Splunk Sees Significant Growth in Short Interest (SPLK)
Shares of Splunk (NASDAQ:SPLK) were the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 4,962,244 shares, an increase of 49.0% from the March 31st total of 3,330,125 shares, American Banking News reports. Currently, 4.4% of the company’s shares are sold short. Based on an average trading volume of 5,454,003 shares, the days-to-cover ratio is currently 0.9 days.
In other Splunk news, CEO Godfrey Sullivan sold 20,000 shares of Splunk stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $62.80, for a total value of $1,256,000.00. Following the sale, the chief executive officer now directly owns 489,690 shares of the company’s stock, valued at approximately $30,752,532. The transaction was disclosed in a filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on SPLK shares. Analysts at Zacks upgraded shares of Splunk from an “underperform” rating to a “neutral” rating in a research note on Wednesday. They now have a $56.50 price target on the stock. Separately, analysts at Credit Agricole upgraded shares of Splunk from an “outperform” rating to a “buy” rating in a research note on Thursday, April 17th. They now have a $80.00 price target on the stock. Finally, analysts at Credit Agricole upgraded shares of Splunk from an “underperform” rating to an “outperform” rating in a research note on Thursday, April 3rd. They now have a $80.00 price target on the stock, down previously from $100.00. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Splunk presently has a consensus rating of “Buy” and a consensus target price of $86.90.
Splunk (NASDAQ:SPLK) opened at 54.57 on Thursday. Splunk has a 52-week low of $40.72 and a 52-week high of $106.15. The stock’s 50-day moving average is $69.74 and its 200-day moving average is $72.20. The company’s market cap is $6.434 billion.
Splunk (NASDAQ:SPLK) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by $0.02. The company had revenue of $99.90 million for the quarter, compared to the consensus estimate of $90.36 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was up 53.2% on a year-over-year basis.
Splunk Inc (NASDAQ:SPLK) provides a software platform.
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