Splunk Receives Fair Value Rating from Janney Montgomery Scott (SPLK)
Splunk (NASDAQ:SPLK)‘s stock had its “fair value” rating restated by analysts at Janney Montgomery Scott in a research report issued to clients and investors on Friday. They currently have a $52.00 price objective on the stock, up from their previous price objective of $46.00. Janney Montgomery Scott’s price target would indicate a potential upside of 14.82% from the company’s current price.
A number of other analysts have also recently weighed in on SPLK. Analysts at Susquehanna cut their price target on shares of Splunk from $74.00 to $71.00 in a research note on Friday. Separately, analysts at Cowen and Company raised their price target on shares of Splunk from $55.00 to $60.00 in a research note on Friday. Finally, 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. Ten analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Splunk currently has an average rating of “Buy” and a consensus price target of $71.36.
Shares of Splunk (NASDAQ:SPLK) traded up 19.12% on Friday, hitting $53.95. 20,166,012 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 $6.397 billion. Splunk also saw some unusual options trading on Thursday. Traders acquired 10,430 call options on the company. This represents an increase of approximately 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 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($0.01) earnings per share. Splunk’s revenue was up 51.7% compared to the same quarter last year.
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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