Splunk Inc. (NASDAQ:SPLK) Given Buy Rating at Drexel Hamilton
Splunk Inc. (NASDAQ:SPLK)‘s stock had its “buy” rating restated by research analysts at Drexel Hamilton in a report issued on Thursday. They presently have a $93.00 price target on the software company’s stock. Drexel Hamilton’s target price points to a potential upside of 55.41% from the stock’s previous close.
Several other research analysts have also weighed in on the stock. Zacks Investment Research raised shares of Splunk from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Wednesday. BMO Capital Markets reaffirmed a “buy” rating and set a $71.00 target price on shares of Splunk in a research note on Wednesday. Robert W. Baird reaffirmed an “outperform” rating and set a $71.00 target price on shares of Splunk in a research note on Monday, July 10th. Guggenheim raised shares of Splunk from a “neutral” rating to a “buy” rating and increased their target price for the stock from $69.00 to $70.00 in a research note on Thursday, June 22nd. Finally, Wedbush lowered shares of Splunk from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $72.00 to $63.00 in a research note on Thursday, June 15th. Eleven analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Splunk currently has a consensus rating of “Buy” and a consensus target price of $71.26.
Splunk (NASDAQ:SPLK) traded down 0.89% during trading on Thursday, hitting $59.84. 994,847 shares of the company were exchanged. Splunk has a 12 month low of $50.64 and a 12 month high of $69.23. The stock’s 50-day moving average is $61.66 and its 200-day moving average is $60.34. The company’s market capitalization is $8.28 billion.
Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Thursday, May 25th. The software company reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.03. Splunk had a negative net margin of 35.19% and a negative return on equity of 40.82%. The firm had revenue of $242.40 million during the quarter, compared to analyst estimates of $233.79 million. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. Splunk’s quarterly revenue was up 30.4% on a year-over-year basis. Equities research analysts anticipate that Splunk will post $0.52 earnings per share for the current year.
In other Splunk news, Director Godfrey Sullivan sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $60.27, for a total value of $2,410,800.00. Following the transaction, the director now directly owns 789,540 shares of the company’s stock, valued at approximately $47,585,575.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Leonard R. Stein sold 4,851 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $58.20, for a total value of $282,328.20. Following the completion of the transaction, the senior vice president now directly owns 103,909 shares in the company, valued at $6,047,503.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 358,056 shares of company stock valued at $20,784,524. 3.00% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. Nationwide Fund Advisors raised its position in shares of Splunk by 28.0% in the first quarter. Nationwide Fund Advisors now owns 159,900 shares of the software company’s stock worth $9,960,000 after buying an additional 34,950 shares during the last quarter. Comerica Bank acquired a new position in shares of Splunk during the fourth quarter worth about $354,000. Gofen & Glossberg LLC IL raised its position in shares of Splunk by 0.6% in the first quarter. Gofen & Glossberg LLC IL now owns 32,259 shares of the software company’s stock worth $2,009,000 after buying an additional 200 shares during the last quarter. Diversified Trust Co acquired a new position in shares of Splunk during the first quarter worth about $212,000. Finally, Harbour Capital Advisors LLC acquired a new position in shares of Splunk during the first quarter worth about $1,044,000.
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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