Splunk Earns “Equal Weight” Rating from Barclays (SPLK)
Splunk (NASDAQ:SPLK)‘s stock had its “equal weight” rating reiterated by equities researchers at Barclays in a research report issued on Friday. They currently have a $52.00 price target on the stock, up from their previous price target of $51.00. Barclays’ price target indicates a potential upside of 14.82% from the company’s current price.
Splunk (NASDAQ:SPLK) traded up 20.51% during mid-day trading on Friday, hitting $54.5799. 13,903,291 shares of the company’s stock traded hands. Splunk has a 52 week low of $39.35 and a 52 week high of $106.15. The stock has a 50-day moving average of $45.09 and a 200-day moving average of $58.84. The company’s market cap is $6.471 billion. Splunk also was the target of some unusual options trading activity on Thursday. Stock traders bought 10,430 call options on the stock. This is an increase of 369% compared to the average daily volume of 2,224 call options.
Splunk (NASDAQ:SPLK) last announced its earnings results 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.
A number of other firms have also recently commented on SPLK. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Splunk in a research note on Friday. They now have a $56.00 price target on the stock, up previously from $55.00. Separately, analysts at Goldman Sachs reiterated a “neutral” rating on shares of Splunk in a research note on Friday. Finally, analysts at FBR Capital Markets cut their price target on shares of Splunk from $80.00 to $67.00 in a research note on Friday. They now have an “outperform” rating on the stock. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $71.69.
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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