Splunk Inc (NASDAQ:SPLK)‘s stock had its “equal weight” rating reissued by analysts at Barclays PLC in a research note issued on Sunday. They presently have a $65.00 target price on the software company’s stock, up from their prior target price of $63.00. Barclays PLC’s price objective would indicate a potential upside of 4.15% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Canaccord Genuity restated a “buy” rating and issued a $70.00 price target on shares of Splunk in a research note on Wednesday, February 22nd. Drexel Hamilton restated a “buy” rating and issued a $90.00 price target on shares of Splunk in a research note on Tuesday, February 21st. Mitsubishi UFJ Financial Group set a $71.00 price target on Splunk and gave the stock a “buy” rating in a research note on Saturday, February 25th. Jefferies Group LLC restated a “buy” rating and issued a $81.00 price target on shares of Splunk in a research note on Friday, February 24th. Finally, Zacks Investment Research upgraded Splunk from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Saturday, March 4th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $71.89.

Analyst Recommendations for Splunk (NASDAQ:SPLK)

Splunk (NASDAQ:SPLK) traded down 6.98% on Friday, hitting $62.41. The stock had a trading volume of 10,078,893 shares. The stock has a 50 day moving average price of $64.50 and a 200 day moving average price of $60.14. Splunk has a 1-year low of $50.60 and a 1-year high of $69.23. The company’s market cap is $8.60 billion.

Splunk (NASDAQ:SPLK) last posted its quarterly earnings results on Thursday, May 25th. The software company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.03. The company had revenue of $242.40 million for the quarter, compared to the consensus estimate of $233.79 million. Splunk had a negative return on equity of 41.28% and a negative net margin of 41.72%. The firm’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.02) EPS. On average, equities research analysts expect that Splunk will post $0.60 EPS for the current fiscal year.

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In related news, insider Douglas Merritt sold 14,867 shares of the firm’s stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $61.83, for a total value of $919,226.61. Following the transaction, the insider now directly owns 252,620 shares of the company’s stock, valued at approximately $15,619,494.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Leonard R. Stein sold 3,825 shares of the firm’s stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $61.74, for a total value of $236,155.50. Following the completion of the transaction, the senior vice president now directly owns 105,609 shares in the company, valued at $6,520,299.66. The disclosure for this sale can be found here. Insiders have sold a total of 219,255 shares of company stock worth $13,453,887 over the last three months. Insiders own 3.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Penserra Capital Management LLC boosted its position in shares of Splunk by 7.9% in the third quarter. Penserra Capital Management LLC now owns 564,300 shares of the software company’s stock worth $33,112,000 after buying an additional 41,255 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Splunk by 7.4% in the third quarter. Pacer Advisors Inc. now owns 4,130 shares of the software company’s stock worth $242,000 after buying an additional 284 shares in the last quarter. Motley Fool Asset Management LLC boosted its position in shares of Splunk by 500.0% in the third quarter. Motley Fool Asset Management LLC now owns 30,000 shares of the software company’s stock worth $1,760,000 after buying an additional 25,000 shares in the last quarter. AMP Capital Investors Ltd boosted its position in shares of Splunk by 47.2% in the third quarter. AMP Capital Investors Ltd now owns 50,852 shares of the software company’s stock worth $2,935,000 after buying an additional 16,300 shares in the last quarter. Finally, Polar Capital LLP boosted its position in shares of Splunk by 13.4% in the third quarter. Polar Capital LLP now owns 783,658 shares of the software company’s stock worth $45,977,000 after buying an additional 92,541 shares in the last quarter. 97.80% of the stock is currently owned by institutional investors.

About Splunk

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.

12 Month Chart for NASDAQ:SPLK

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