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Splunk (NASDAQ:SPLK) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued to investors on Wednesday. They currently have a $46.00 price objective on the stock. Zacks‘s price objective points to a potential downside of 4.19% from the stock’s previous close.

Splunk (NASDAQ:SPLK) traded up 0.67% on Wednesday, hitting $48.33. The stock had a trading volume of 2,554,721 shares. Splunk has a 52-week low of $39.35 and a 52-week high of $106.15. The stock has a 50-day moving average of $48.30 and a 200-day moving average of $66.41. The company’s market cap is $5.730 billion.

Splunk (NASDAQ:SPLK) last issued its quarterly earnings data on Thursday, May 29th. The company reported ($0.04) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.06) by $0.02. The company had revenue of $85.90 million for the quarter, compared to the consensus estimate of $80.74 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. The company’s quarterly revenue was up 50.2% on a year-over-year basis.

Several other analysts have also recently commented on the stock. Analysts at Janney Montgomery Scott initiated coverage on shares of Splunk in a research note on Monday, June 2nd. They set a “neutral” rating and a $46.00 price target on the stock. Separately, analysts at Oppenheimer cut their price target on shares of Splunk from $95.00 to $77.00 in a research note on Friday, May 30th. They now have an “outperform” rating on the stock. Finally, analysts at Susquehanna cut their price target on shares of Splunk from $110.00 to $74.00 in a research note on Friday, May 30th. They now have a “positive” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $72.56.

Splunk Inc provides software products. The Company’s products enable users to collect, index, and search, explore, monitor and analyze data regardless of format or source.

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