Splunk Raised to Outperform at Cowen and Company (SPLK)
Splunk (NASDAQ:SPLK) was upgraded by Cowen and Company to an “outperform” rating in a research note issued on Monday. The firm currently has a $55.00 price objective on the stock. Cowen and Company’s price objective points to a potential upside of 25.14% from the stock’s previous close.
Splunk (NASDAQ:SPLK) traded down 0.58% on Monday, hitting $43.695. The stock had a trading volume of 936,468 shares. Splunk has a 52 week low of $39.35 and a 52 week high of $106.15. The stock’s 50-day moving average is $45.42 and its 200-day moving average is $59.77. The company’s market cap is $5.181 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.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank cut their price target on shares of Splunk from $65.00 to $55.00 in a research note on Thursday. They now have a “buy” rating on the stock. Separately, 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. Finally, 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. Nine investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $71.41.
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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