Splunk PT Lowered to $55.00 at Deutsche Bank (SPLK)
Analysts at Deutsche Bank decreased their price target on shares of Splunk (NASDAQ:SPLK) from $65.00 to $55.00 in a research report issued to clients and investors on Thursday. The firm currently has a “buy” rating on the stock. Deutsche Bank’s price objective would suggest a potential upside of 28.24% from the company’s current price.
Splunk (NASDAQ:SPLK) traded down 0.44% on Thursday, hitting $42.71. The stock had a trading volume of 678,912 shares. Splunk has a 1-year low of $39.35 and a 1-year high of $106.15. The stock has a 50-day moving average of $46.07 and a 200-day moving average of $60.11. The company’s market cap is $5.064 billion.
Splunk (NASDAQ:SPLK) last announced its earnings results on Thursday, May 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted ($0.06) earnings per share. The company’s revenue for the quarter was up 50.2% on a year-over-year basis.
A number of other analysts have also recently weighed in on SPLK. Analysts at Zacks upgraded shares of Splunk from an “underperform” rating to a “neutral” rating in a research note on Thursday, August 7th. They now have a $43.30 price target on the stock. Separately, analysts at BMO Capital Markets initiated coverage on shares of Splunk in a research note on Thursday, July 17th. They set a “market perform” rating and a $51.00 price target on the stock. Finally, 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. Nine equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $72.10.
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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