Barclays Reiterates Equal Weight Rating for Splunk (SPLK)
Splunk (NASDAQ:SPLK)‘s stock had its “equal weight” rating restated by equities research analysts at Barclays in a research note issued to investors on Thursday. They currently have a $63.00 target price on the stock, up from their previous target price of $52.00. Barclays’ price objective suggests a potential upside of 10.57% from the company’s current price.
A number of other firms have also recently commented on SPLK. Analysts at Summit Research reiterated a “buy” rating on shares of Splunk in a research note on Friday, August 29th. They now have a $55.00 price target on the stock. Separately, analysts at Janney Montgomery Scott reiterated a “fair value” rating on shares of Splunk in a research note on Friday, August 29th. They now have a $52.00 price target on the stock, up previously from $46.00. Finally, analysts at Susquehanna cut their price target on shares of Splunk from $74.00 to $71.00 in a research note on Friday, August 29th. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $71.78.
Shares of Splunk (NASDAQ:SPLK) traded up 1.28% on Thursday, hitting $57.70. 2,704,834 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 $45.87 and its 200-day moving average is $57.89. The company’s market cap is $6.867 billion.
Splunk (NASDAQ:SPLK) last released its 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. On average, analysts predict that Splunk will post $0.02 earnings per share for the current fiscal 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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