Splunk Inc (SPLK) PT Set at $71.00 by Robert W. Baird
Splunk Inc (NASDAQ:SPLK) received a $71.00 price objective from analysts at Robert W. Baird in a report released on Saturday. The brokerage currently has a “buy” rating on the software company’s stock. Robert W. Baird’s target price would indicate a potential upside of 13.76% from the company’s current price.
A number of other analysts have also recently issued reports on the company. Royal Bank of Canada lifted their price objective on Splunk from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday. Wedbush restated an “outperform” rating and set a $78.00 target price on shares of Splunk in a report on Monday, May 22nd. Zacks Investment Research lowered Splunk from a “buy” rating to a “hold” rating in a report on Thursday, April 27th. BTIG Research started coverage on Splunk in a report on Monday, April 17th. They set a “buy” rating and a $80.00 target price on the stock. Finally, BMO Capital Markets restated an “outperform” rating and set a $71.00 target price on shares of Splunk in a report on Thursday, March 30th. Eleven investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Splunk presently has a consensus rating of “Buy” and a consensus price target of $70.87.
Shares of Splunk (NASDAQ:SPLK) traded down 6.98% during midday trading on Friday, reaching $62.41. The company’s stock had a trading volume of 10,078,893 shares. Splunk has a 52 week low of $49.36 and a 52 week high of $69.23. The stock’s market capitalization is $8.60 billion. The stock has a 50-day moving average price of $64.50 and a 200 day moving average price of $60.14.
Splunk (NASDAQ:SPLK) last released its quarterly earnings data on Thursday, May 25th. The software company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The firm had revenue of $242.40 million during the quarter, compared to analysts’ expectations of $233.79 million. Splunk had a negative return on equity of 41.28% and a negative net margin of 41.72%. The business’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.02) earnings per share. Equities analysts forecast that Splunk will post $0.60 earnings per share for the current year.
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In other Splunk news, insider Douglas Merritt sold 14,097 shares of the company’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $60.78, for a total transaction of $856,815.66. Following the completion of the sale, the insider now owns 180,075 shares in the company, valued at approximately $10,944,958.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Leonard R. Stein sold 7,716 shares of the company’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $60.77, for a total transaction of $468,901.32. Following the sale, the senior vice president now owns 82,345 shares of the company’s stock, valued at approximately $5,004,105.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 219,255 shares of company stock worth $13,453,887. Company insiders own 3.00% of the company’s stock.
Several hedge funds have recently modified their holdings of SPLK. TLP Group LLC acquired a new stake in shares of Splunk during the first quarter valued at approximately $102,000. Acrospire Investment Management LLC boosted its stake in shares of Splunk by 79.9% in the first quarter. Acrospire Investment Management LLC now owns 2,701 shares of the software company’s stock valued at $168,000 after buying an additional 1,200 shares during the last quarter. ProShare Advisors LLC acquired a new stake in shares of Splunk during the first quarter valued at approximately $200,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Splunk during the first quarter valued at approximately $204,000. Finally, IFP Advisors Inc boosted its stake in shares of Splunk by 0.6% in the first quarter. IFP Advisors Inc now owns 3,304 shares of the software company’s stock valued at $206,000 after buying an additional 20 shares during the last quarter. Institutional investors own 97.80% of the company’s stock.
Splunk Inc (Splunk) is engaged in the development and marketing of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. Its offerings address diverse data sets that are referred to as big data and are specifically used for machine data.
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