Splunk Inc. (SPLK) Given Buy Rating at Northland Securities
Splunk Inc. (NASDAQ:SPLK)‘s stock had its “buy” rating reaffirmed by investment analysts at Northland Securities in a report released on Thursday. They currently have a $80.00 target price on the software company’s stock. Northland Securities’ price objective indicates a potential upside of 26.42% from the company’s previous close.
Several other research analysts have also weighed in on the stock. ValuEngine lowered shares of Splunk from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Zacks Investment Research raised shares of Splunk from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research note on Wednesday, October 4th. Robert W. Baird set a $75.00 price target on shares of Splunk and gave the company a “buy” rating in a research note on Sunday, October 1st. Morgan Stanley lowered shares of Splunk from an “overweight” rating to an “equal weight” rating and set a $77.00 price target on the stock. in a research note on Monday, October 2nd. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $72.00 price target on shares of Splunk in a research note on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $73.27.
Splunk (NASDAQ:SPLK) traded down 0.119% during midday trading on Thursday, hitting $63.205. 855,604 shares of the stock were exchanged. Splunk has a one year low of $50.64 and a one year high of $69.61. The firm’s market capitalization is $8.85 billion. The company has a 50 day moving average price of $66.62 and a 200 day moving average price of $62.63.
Splunk (NASDAQ:SPLK) last released its quarterly earnings data on Thursday, August 24th. The software company reported $0.08 earnings per share for the quarter, topping the 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 business had revenue of $279.96 million for the quarter, compared to analyst estimates of $268.72 million. During the same quarter last year, the firm earned $0.05 EPS. Splunk’s quarterly revenue was up 31.6% compared to the same quarter last year. Equities analysts anticipate that Splunk will post $0.54 EPS for the current year.
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In related news, Director Godfrey Sullivan sold 128,750 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $67.84, for a total transaction of $8,734,400.00. Following the completion of the sale, the director now owns 699,540 shares of the company’s stock, valued at $47,456,793.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David F. Conte sold 10,525 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $66.03, for a total transaction of $694,965.75. The disclosure for this sale can be found here. Insiders have sold 628,881 shares of company stock valued at $40,315,252 in the last ninety days. 1.43% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Jennison Associates raised its stake in Splunk by 5.0% during the third quarter. Jennison Associates now owns 12,705,123 shares of the software company’s stock worth $703,229,000 after acquiring an additional 603,274 shares in the last quarter. Vanguard Group Inc. raised its stake in Splunk by 5.1% during the second quarter. Vanguard Group Inc. now owns 11,347,936 shares of the software company’s stock worth $645,584,000 after acquiring an additional 546,338 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Splunk by 10.7% during the fourth quarter. Ameriprise Financial Inc. now owns 10,963,487 shares of the software company’s stock worth $644,555,000 after acquiring an additional 1,060,173 shares in the last quarter. Sands Capital Management LLC raised its stake in Splunk by 7.9% during the fourth quarter. Sands Capital Management LLC now owns 10,086,257 shares of the software company’s stock worth $515,912,000 after acquiring an additional 739,569 shares in the last quarter. Finally, Baillie Gifford & Co. raised its stake in Splunk by 0.9% during the second quarter. Baillie Gifford & Co. now owns 7,750,654 shares of the software company’s stock worth $419,930,000 after acquiring an additional 69,890 shares in the last quarter.
Splunk Company Profile
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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