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Analysts at FBR Capital Markets reduced their price target on shares of Splunk (NASDAQ:SPLK) from $80.00 to $67.00 in a research report issued to clients and investors on Friday. The firm currently has an “outperform” rating on the stock. FBR Capital Markets’ target price points to a potential upside of 47.94% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity cut their price target on shares of Splunk from $70.00 to $60.00 in a research note on Friday. Separately, analysts at Cantor Fitzgerald cut their price target on shares of Splunk from $99.00 to $83.00 in a research note on Wednesday. Finally, 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. Nine investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $70.97.

Splunk (NASDAQ:SPLK) opened at 45.29 on Friday. 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 $5.370 billion. Splunk also was the recipient of unusually large options trading activity on Thursday. Stock investors 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.

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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