Splunk Stock Rating Reaffirmed by Summit Research (SPLK)
Splunk (NASDAQ:SPLK)‘s stock had its “buy” rating reaffirmed by analysts at Summit Research in a research report issued to clients and investors on Friday. They currently have a $55.00 target price on the stock. Summit Research‘s price target would suggest a potential upside of 21.44% from the stock’s previous close.
Splunk (NASDAQ:SPLK) traded up 19.12% during mid-day trading on Friday, hitting $53.95. 20,164,012 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’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 saw some unusual options trading activity on Thursday. Traders acquired 10,430 call options on the stock. This represents an increase of 369% compared to the average 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 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.
Other equities research analysts have also recently issued reports about the stock. Analysts at Janney Montgomery Scott reiterated a “fair value” rating on shares of Splunk in a research note on Friday. They now have a $52.00 price target on the stock, up previously from $46.00. Separately, analysts at Susquehanna cut their price target on shares of Splunk from $74.00 to $71.00 in a research note on Friday. Finally, 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. Ten equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Splunk presently has a consensus rating of “Buy” and an average 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.
To view Summit Research’s full report, visit Summit Research’s official website.
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