Splunk Inc. (SPLK) Given Consensus Rating of “Buy” by Analysts
Splunk Inc. (NASDAQ:SPLK) has been given an average rating of “Buy” by the thirty-nine ratings firms that are presently covering the firm, MarketBeat.com reports. Twelve analysts have rated the stock with a hold recommendation and twenty-seven have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $73.03.
Several equities analysts have commented on SPLK shares. Mizuho reiterated a “neutral” rating and issued a $60.00 price objective on shares of Splunk in a report on Tuesday, August 15th. Morgan Stanley reiterated an “overweight” rating and issued a $77.00 price objective (up from $74.00) on shares of Splunk in a report on Friday, August 25th. Robert W. Baird set a $71.00 price objective on shares of Splunk and gave the company a “buy” rating in a report on Saturday, May 27th. ValuEngine upgraded shares of Splunk from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Finally, Maxim Group reiterated a “buy” rating on shares of Splunk in a report on Sunday, May 28th.
In other news, SVP Leonard R. Stein sold 4,851 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $67.79, for a total value of $328,849.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David F. Conte sold 21,589 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $68.99, for a total value of $1,489,425.11. Following the completion of the transaction, the chief financial officer now directly owns 161,022 shares of the company’s stock, valued at approximately $11,108,907.78. The disclosure for this sale can be found here. Insiders sold 588,204 shares of company stock valued at $37,031,387 in the last ninety days. 3.00% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in SPLK. TLP Group LLC acquired a new stake in Splunk during the 1st quarter valued at approximately $102,000. Patten Group Inc. increased its position in Splunk by 3.6% during the 1st quarter. Patten Group Inc. now owns 2,154 shares of the software company’s stock valued at $131,000 after purchasing an additional 75 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its position in Splunk by 24.1% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,375 shares of the software company’s stock valued at $195,000 after purchasing an additional 656 shares during the period. ProShare Advisors LLC acquired a new stake in Splunk during the 1st quarter valued at approximately $200,000. Finally, IFP Advisors Inc increased its position in Splunk by 6.2% during the 2nd quarter. IFP Advisors Inc now owns 3,508 shares of the software company’s stock valued at $200,000 after purchasing an additional 204 shares during the period.
Shares of Splunk (NASDAQ:SPLK) traded up 1.52% during mid-day trading on Friday, reaching $69.53. 1,607,786 shares of the company’s stock were exchanged. Splunk has a 52-week low of $50.64 and a 52-week high of $69.61. The stock’s 50-day moving average is $63.07 and its 200-day moving average is $61.94. The stock’s market cap is $9.73 billion.
Splunk (NASDAQ:SPLK) last released its quarterly earnings data on Thursday, August 24th. The software company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.02. Splunk had a negative net margin of 36.81% and a negative return on equity of 75.81%. The firm had revenue of $279.96 million for the quarter, compared to the consensus estimate of $268.72 million. During the same period in the previous year, the company earned $0.05 earnings per share. The company’s quarterly revenue was up 31.6% on a year-over-year basis. On average, equities analysts expect that Splunk will post $0.54 EPS for the current year.
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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