Splunk Inc. (SPLK) Upgraded to Strong-Buy by Vetr Inc.
Splunk Inc. (NASDAQ:SPLK) was upgraded by equities research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report issued on Wednesday. The brokerage presently has a $66.00 target price on the software company’s stock. Vetr‘s price target would suggest a potential upside of 15.02% from the company’s current price.
Several other analysts have also recently weighed in on the stock. RBC Capital Markets reiterated a “buy” rating and issued a $70.00 price objective (up previously from $60.00) on shares of Splunk in a research note on Friday, August 19th. Stifel Nicolaus lifted their price objective on shares of Splunk from $56.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, June 16th. Royal Bank Of Canada lifted their price objective on shares of Splunk from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, August 19th. Barclays PLC reiterated an “equal weight” rating and issued a $51.00 price objective on shares of Splunk in a research note on Thursday, August 25th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $75.00 price objective (up previously from $65.00) on shares of Splunk in a research note on Friday, August 26th. Twelve equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the stock. Splunk has an average rating of “Buy” and a consensus target price of $67.55.
Shares of Splunk (NASDAQ:SPLK) traded down 3.77% during mid-day trading on Wednesday, reaching $57.38. 2,333,546 shares of the company’s stock traded hands. The firm has a 50 day moving average price of $59.62 and a 200-day moving average price of $56.33. The stock’s market cap is $7.72 billion. Splunk has a 12 month low of $29.85 and a 12 month high of $66.90.
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Splunk (NASDAQ:SPLK) last announced its earnings results on Thursday, August 25th. The software company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. The business earned $212.80 million during the quarter, compared to the consensus estimate 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 was up 43.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 EPS. On average, analysts predict that Splunk will post $0.29 earnings per share for the current fiscal year.
In related news, Director Godfrey Sullivan sold 120,000 shares of the stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $62.01, for a total transaction of $7,441,200.00. Following the completion of the transaction, the director now owns 485,426 shares in the company, valued at $30,101,266.26. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CMO Steven R. Sommer sold 5,000 shares of the stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $58.66, for a total transaction of $293,300.00. Following the transaction, the chief marketing officer now owns 220,127 shares of the company’s stock, valued at approximately $12,912,649.82. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of SPLK. LS Investment Advisors LLC raised its position in Splunk by 5.5% in the second quarter. LS Investment Advisors LLC now owns 2,367 shares of the software company’s stock valued at $128,000 after buying an additional 123 shares during the last quarter. Advisor Group Inc. bought a new position in Splunk during the second quarter valued at $157,000. Seven Eight Capital LLC bought a new position in Splunk during the second quarter valued at $193,000. Shelton Capital Management bought a new position in Splunk during the second quarter valued at $206,000. Finally, Pacer Advisors Inc. raised its position in Splunk by 986.4% in the second quarter. Pacer Advisors Inc. now owns 3,846 shares of the software company’s stock valued at $208,000 after buying an additional 3,492 shares during the last quarter. 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.
To view Vetr’s full report, visit Vetr’s official website.
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