Splunk Inc. (SPLK) Now Covered by Mizuho
Research analysts at Mizuho started coverage on shares of Splunk Inc. (NASDAQ:SPLK) in a report issued on Wednesday. The brokerage set a “neutral” rating and a $60.00 price target on the software company’s stock. Mizuho’s target price indicates a potential upside of 2.79% from the stock’s current price.
Several other research firms also recently commented on SPLK. Citigroup Inc. lifted their price objective on Splunk from $62.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, August 26th. Barclays PLC boosted their price target on Splunk from $51.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, August 26th. Canaccord Genuity restated a “buy” rating and set a $75.00 price target (up from $65.00) on shares of Splunk in a research note on Friday, August 26th. Stifel Nicolaus downgraded Splunk from a “buy” rating to a “hold” rating in a research note on Friday, August 26th. They noted that the move was a valuation call. Finally, Robert W. Baird boosted their price target on Splunk from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, August 26th. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the stock. Splunk presently has a consensus rating of “Buy” and an average price target of $68.18.
Shares of Splunk (NASDAQ:SPLK) opened at 58.37 on Wednesday. The company has a 50-day moving average of $61.16 and a 200-day moving average of $55.05. The stock’s market capitalization is $7.85 billion. Splunk has a 52 week low of $29.85 and a 52 week high of $66.90.
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Splunk (NASDAQ:SPLK) last released its quarterly earnings data on Thursday, August 25th. The software company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. Splunk had a negative return on equity of 38.45% and a negative net margin of 42.84%. The company earned $212.80 million during the quarter, compared to the consensus estimate of $200.52 million. During the same period last year, the company earned $0.03 EPS. Splunk’s revenue for the quarter was up 43.5% on a year-over-year basis. On average, analysts anticipate that Splunk will post $0.29 EPS for the current year.
In related news, SVP Leonard R. Stein sold 3,435 shares of the company’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $58.64, for a total transaction of $201,428.40. Following the completion of the sale, the senior vice president now directly owns 116,437 shares in the company, valued at approximately $6,827,865.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Godfrey Sullivan sold 128,750 shares of the company’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $58.93, for a total value of $7,587,237.50. Following the sale, the director now owns 440,426 shares of the company’s stock, valued at $25,954,304.18. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Pioneer Investment Management Inc. acquired a new stake in Splunk during the fourth quarter worth approximately $4,715,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Splunk by 14.0% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 40,363 shares of the software company’s stock worth $1,975,000 after buying an additional 4,951 shares during the period. Independent Portfolio Consultants Inc. acquired a new stake in Splunk during the first quarter worth approximately $253,000. Fisher Asset Management LLC boosted its stake in Splunk by 11.9% in the first quarter. Fisher Asset Management LLC now owns 22,648 shares of the software company’s stock worth $1,129,000 after buying an additional 2,405 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in Splunk during the first quarter worth approximately $435,000. Institutional investors own 99.57% of the company’s stock.
Splunk Inc is a provider of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. It operates through the development and marketing of software solutions segment, which enables its customers to gain real-time operational intelligence by harnessing the value of their data.
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