Splunk Inc. (SPLK) Given Average Rating of “Buy” by Brokerages
Shares of Splunk Inc. (NASDAQ:SPLK) have been given an average recommendation of “Buy” by the forty-one ratings firms that are presently covering the company. Eleven research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $69.40.
Several brokerages have commented on SPLK. Vetr upgraded Splunk from a “strong sell” rating to a “sell” rating and set a $49.50 price target for the company in a research note on Monday, June 27th. Drexel Hamilton restated a “buy” rating and set a $85.00 price target on shares of Splunk in a research note on Wednesday, July 13th. Citigroup Inc. lowered Splunk from a “buy” rating to a “neutral” rating and set a $62.00 price target for the company. in a research note on Wednesday, July 20th. Maxim Group upped their price target on Splunk from $75.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, July 21st. Finally, Morgan Stanley upped their price target on Splunk from $58.00 to $74.00 and gave the stock an “overweight” rating in a research note on Monday, August 8th.
In other news, Director Godfrey Sullivan sold 120,000 shares of the firm’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $62.01, for a total value of $7,441,200.00. Following the completion of the sale, the director now owns 485,426 shares of the company’s stock, valued at $30,101,266.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO David F. Conte sold 10,575 shares of the firm’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $63.87, for a total value of $675,425.25. The disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.
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Several hedge funds have recently modified their holdings of the company. Aperio Group LLC boosted its stake in shares of 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 period. Ngam Advisors L.P. boosted its stake in shares of 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 period. BlackRock Inc. boosted its stake in shares of 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 period. BlackRock Group LTD boosted its stake in shares of 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 period. Finally, M&T Bank Corp boosted its stake in shares of Splunk by 32.8% in the first quarter. M&T Bank Corp now owns 20,338 shares of the software company’s stock valued at $994,000 after buying an additional 5,018 shares during the period. 98.28% of the stock is owned by institutional investors and hedge funds.
Shares of Splunk (NASDAQ:SPLK) traded up 0.73% during midday trading on Wednesday, hitting $58.08. The stock had a trading volume of 757,867 shares. Splunk has a one year low of $29.85 and a one year high of $66.90. The stock has a 50 day moving average of $59.05 and a 200-day moving average of $56.62. The company’s market cap is $7.81 billion.
Splunk (NASDAQ:SPLK) last released its earnings results on Thursday, August 25th. The software company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.02. The firm earned $212.80 million during the quarter, compared to analyst estimates of $200.52 million. Splunk had a negative return on equity of 38.45% and a negative net margin of 42.84%. The business’s quarterly revenue was up 43.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.03 earnings per share. Analysts forecast that Splunk will post $0.29 EPS for the current fiscal year.
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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