Splunk Inc. (NASDAQ:SPLK) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

A number of other research firms have also recently issued reports on SPLK. Royal Bank Of Canada upped their price target on shares of Splunk from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, May 23rd. Wedbush restated an “outperform” rating and set a $78.00 price target on shares of Splunk in a report on Monday, May 22nd. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $80.00 price target on shares of Splunk in a report on Friday, August 25th. Robert W. Baird set a $75.00 price target on shares of Splunk and gave the company a “buy” rating in a report on Friday, August 25th. Finally, Maxim Group restated a “buy” rating and set a $85.00 price target on shares of Splunk in a report on Friday, August 25th. Twelve investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $72.53.

Splunk (NASDAQ SPLK) traded up 0.46% on Friday, hitting $67.40. The company had a trading volume of 1,429,293 shares. The stock’s market cap is $9.37 billion. Splunk has a 12-month low of $50.64 and a 12-month high of $69.23. The firm’s 50 day moving average price is $60.87 and its 200 day moving average price is $61.60.

Splunk (NASDAQ:SPLK) last released its quarterly earnings results on Thursday, August 24th. The software company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.02. Splunk had a negative net margin of 36.81% and a negative return on equity of 75.18%. The company had revenue of $279.96 million during the quarter, compared to analysts’ expectations of $268.72 million. During the same period in the prior year, the company earned $0.05 earnings per share. The business’s quarterly revenue was up 31.6% compared to the same quarter last year. Equities analysts predict that Splunk will post $0.54 earnings per share for the current fiscal year.

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In other Splunk news, CFO David F. Conte sold 10,525 shares of Splunk stock in a transaction on Friday, August 25th. The shares were sold at an average price of $66.03, for a total transaction of $694,965.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Godfrey Sullivan sold 4,236 shares of Splunk stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $61.77, for a total transaction of $261,657.72. Following the sale, the director now directly owns 818,456 shares of the company’s stock, valued at approximately $50,556,027.12. The disclosure for this sale can be found here. Insiders have sold a total of 567,237 shares of company stock valued at $33,165,553 in the last ninety days. Company insiders own 3.00% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the company. Nationwide Fund Advisors raised its stake in 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 in the last quarter. Gofen & Glossberg LLC IL raised its stake in 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 in the last quarter. Harbour Capital Advisors LLC acquired a new stake in Splunk during the first quarter worth approximately $1,044,000. MARSHALL WACE ASIA Ltd acquired a new stake in Splunk during the first quarter worth approximately $3,437,000. Finally, Clearbridge Investments LLC raised its stake in Splunk by 19.2% in the first quarter. Clearbridge Investments LLC now owns 249,605 shares of the software company’s stock worth $15,548,000 after buying an additional 40,229 shares in the last quarter.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Splunk (NASDAQ:SPLK)

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