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Equities researchers at Cowen and Company upped their price target on shares of Splunk (NASDAQ:SPLK) from $55.00 to $60.00 in a research report issued on Friday. Cowen and Company’s price objective suggests a potential upside of 32.48% from the stock’s previous close.

Shares of Splunk (NASDAQ:SPLK) traded up 19.12% during mid-day trading on Friday, hitting $53.95. The stock had a trading volume of 20,166,148 shares. Splunk has a one year low of $39.35 and a one year 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 $6.397 billion. Splunk also was the target of some unusual options trading on Thursday. Stock traders acquired 10,430 call options on the company. This represents an increase of approximately 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.

Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays raised their price target on shares of Splunk from $51.00 to $52.00 in a research note on Friday. They now have an “equal weight” rating on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of Splunk from $55.00 to $56.00 in a research note on Friday. They now have a “buy” rating on the stock. Finally, analysts at Goldman Sachs reiterated a “neutral” rating on shares of Splunk in a research note on Friday. Ten investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Splunk currently has an average rating of “Buy” and a consensus price target of $71.36.

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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