Splunk Given “Buy” Rating at Deutsche Bank (SPLK)
Splunk (NASDAQ:SPLK)‘s stock had its “buy” rating reiterated by stock analysts at Deutsche Bank in a report issued on Friday. They currently have a $56.00 price objective on the stock, up from their previous price objective of $55.00. Deutsche Bank’s target price suggests a potential upside of 23.65% from the company’s current price.
Shares of Splunk (NASDAQ:SPLK) traded up 20.51% on Friday, hitting $54.5799. The stock had a trading volume of 13,905,001 shares. 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 saw unusually large options trading activity on Thursday. Traders acquired 10,430 call options on the company. This is an increase of 369% compared to the typical daily volume of 2,224 call options.
Splunk (NASDAQ:SPLK) last issued its quarterly earnings data on Thursday, August 28th. The company reported $0.01 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted ($0.01) earnings per share. The company’s quarterly revenue was up 51.7% on a year-over-year basis.
A number of other analysts have also recently weighed in on SPLK. Analysts at Goldman Sachs reiterated a “neutral” rating on shares of Splunk in a research note on Friday. Separately, 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. Finally, analysts at Canaccord Genuity cut their price target on shares of Splunk from $70.00 to $60.00 in a research note on Friday. They now have a “buy” rating on the stock. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company currently 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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