Canaccord Genuity Lowers Splunk Price Target to $60.00 (SPLK)
Equities research analysts at Canaccord Genuity reduced their price objective on shares of Splunk (NASDAQ:SPLK) from $70.00 to $60.00 in a research note issued to investors on Friday. Canaccord Genuity’s price target points to a potential upside of 32.48% from the stock’s previous close.
A number of other firms have also recently commented on SPLK. Analysts at Cantor Fitzgerald cut their price target on shares of Splunk from $99.00 to $83.00 in a research note on Wednesday. Separately, analysts at Cowen and Company upgraded shares of Splunk to an “outperform” rating in a research note on Monday. They now have a $55.00 price target on the stock. Finally, analysts at Deutsche Bank cut their price target on shares of Splunk from $65.00 to $55.00 in a research note on Thursday, August 21st. They now have a “buy” rating on the stock. Ten investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Splunk presently has an average rating of “Buy” and a consensus target price of $71.61.
Splunk (NASDAQ:SPLK) traded up 15.77% on Friday, hitting $52.4322. The stock had a trading volume of 6,186,979 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 $45.09 and its 200-day moving average is $58.84. The company’s market cap is $6.217 billion. Splunk also saw some unusual options trading on Thursday. Investors bought 10,430 call options on the company. This is an increase of 369% compared to the typical volume of 2,224 call options.
Splunk (NASDAQ:SPLK) last issued its quarterly earnings data on Thursday, August 28th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.03. The company had revenue of $101.50 million for the quarter, compared to the consensus estimate of $93.93 million. During the same quarter in the previous year, the company posted ($0.01) earnings per share. The company’s revenue for the quarter was up 51.7% on a year-over-year basis.
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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