Splunk Inc. (SPLK) Receives Consensus Rating of “Buy” from Analysts
Splunk Inc. (NASDAQ:SPLK) has been given a consensus rating of “Buy” by the forty research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and twenty-eight have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $73.27.
Several research analysts have issued reports on SPLK shares. Guggenheim raised shares of Splunk from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $69.00 to $70.00 in a research report on Thursday, June 22nd. Royal Bank Of Canada restated a “buy” rating and issued a $75.00 target price on shares of Splunk in a research note on Monday, July 31st. Drexel Hamilton restated a “buy” rating and issued a $93.00 target price on shares of Splunk in a research note on Thursday, July 13th. Zacks Investment Research upgraded 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, July 12th. Finally, BMO Capital Markets restated a “buy” rating and issued a $71.00 target price on shares of Splunk in a research note on Wednesday, July 12th.
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In related news, SVP Ledger Susan St. sold 677 shares of the company’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $69.52, for a total value of $47,065.04. Following the sale, the senior vice president now directly owns 168,376 shares of the company’s stock, valued at $11,705,499.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Godfrey Sullivan sold 40,000 shares of the company’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $63.48, for a total transaction of $2,539,200.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 628,881 shares of company stock worth $40,315,252. Corporate insiders own 1.43% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA raised its holdings in Splunk by 99.8% in the second quarter. BNP Paribas Arbitrage SA now owns 27,726 shares of the software company’s stock valued at $1,577,000 after acquiring an additional 13,849 shares in the last quarter. Harbour Capital Advisors LLC acquired a new stake in Splunk in the first quarter valued at $1,044,000. Advisors Asset Management Inc. raised its holdings in Splunk by 7.3% in the second quarter. Advisors Asset Management Inc. now owns 15,167 shares of the software company’s stock valued at $863,000 after acquiring an additional 1,032 shares in the last quarter. Swiss National Bank raised its holdings in Splunk by 3.8% in the second quarter. Swiss National Bank now owns 494,700 shares of the software company’s stock valued at $28,143,000 after acquiring an additional 17,900 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Splunk by 1.2% in the second quarter. Legal & General Group Plc now owns 547,738 shares of the software company’s stock valued at $31,160,000 after acquiring an additional 6,713 shares in the last quarter.
Splunk (SPLK) traded up 0.47% on Thursday, reaching $63.58. 1,677,577 shares of the company were exchanged. The stock has a 50-day moving average price of $66.62 and a 200 day moving average price of $62.63. Splunk has a 52 week low of $50.64 and a 52 week high of $69.61. The stock’s market capitalization is $8.90 billion.
Splunk (NASDAQ:SPLK) last issued its quarterly earnings data on Thursday, August 24th. The software company reported $0.08 earnings per share (EPS) for the quarter, topping 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 company had revenue of $279.96 million for the quarter, compared to the consensus estimate of $268.72 million. During the same period last year, the firm posted $0.05 EPS. Splunk’s revenue for the quarter was up 31.6% on a year-over-year basis. Analysts forecast that Splunk will post $0.54 earnings per share 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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