Splunk Inc. (SPLK) Rating Lowered to Neutral at Guggenheim
Splunk Inc. (NASDAQ:SPLK) was downgraded by Guggenheim from a “buy” rating to a “neutral” rating in a report issued on Tuesday.
A number of other research analysts have also commented on SPLK. RBC Capital Markets reiterated a “buy” rating and issued a $70.00 price target (up previously from $60.00) on shares of Splunk in a research note on Friday, August 19th. Vetr lowered shares of Splunk from a “strong-buy” rating to a “buy” rating and set a $66.00 price target on the stock. in a research note on Tuesday, October 4th. Stifel Nicolaus upped their price target on shares of Splunk from $56.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, June 16th. Royal Bank Of Canada upped their price target on shares of Splunk from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, August 19th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $51.00 price target on shares of Splunk in a research note on Thursday, August 25th. Twelve investment analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Splunk presently has an average rating of “Buy” and a consensus target price of $67.61.
Splunk (NASDAQ:SPLK) traded down 0.42% on Tuesday, hitting $59.95. 1,076,124 shares of the stock were exchanged. The company’s market capitalization is $8.07 billion. The company has a 50-day moving average price of $60.06 and a 200 day moving average price of $56.08. Splunk has a 1-year low of $29.85 and a 1-year 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 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. The company had revenue of $212.80 million for the quarter, compared to analyst estimates of $200.52 million. Splunk had a negative net margin of 42.84% and a negative return on equity of 38.45%. Splunk’s revenue for the quarter was up 43.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 EPS. Analysts anticipate that Splunk will post $0.29 EPS for the current fiscal year.
In other Splunk news, SVP Leonard R. Stein sold 1,075 shares of Splunk stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $60.00, for a total value of $64,500.00. Following the sale, the senior vice president now owns 115,262 shares of the company’s stock, valued at $6,915,720. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Godfrey Sullivan sold 40,000 shares of Splunk stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $57.47, for a total transaction of $2,298,800.00. Following the completion of the transaction, the director now owns 505,426 shares of the company’s stock, valued at approximately $29,046,832.22. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Aperio Group LLC increased its position in Splunk by 89.0% in the first quarter. Aperio Group LLC now owns 22,172 shares of the software company’s stock valued at $1,085,000 after buying an additional 10,443 shares during the last quarter. Ngam Advisors L.P. increased its position in Splunk by 22.2% in the first quarter. Ngam Advisors L.P. now owns 22,227 shares of the software company’s stock valued at $1,088,000 after buying an additional 4,040 shares during the last quarter. BlackRock Inc. increased its position in Splunk by 17.1% in the first quarter. BlackRock Inc. now owns 96,675 shares of the software company’s stock valued at $4,731,000 after buying an additional 14,147 shares during the last quarter. BlackRock Group LTD increased its position in Splunk by 8.8% in the first quarter. BlackRock Group LTD now owns 746,224 shares of the software company’s stock valued at $36,514,000 after buying an additional 60,633 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Splunk by 2.3% in the first quarter. JPMorgan Chase & Co. now owns 3,524,304 shares of the software company’s stock valued at $172,444,000 after buying an additional 79,896 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.
Splunk Company Profile
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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