Needham & Company LLC Begins Coverage on Splunk Inc. (SPLK)
Research analysts at Needham & Company LLC assumed coverage on shares of Splunk Inc. (NASDAQ:SPLK) in a research note issued on Monday. The firm set a “buy” rating and a $95.00 price target on the software company’s stock. Needham & Company LLC’s price target suggests a potential upside of 48.23% from the stock’s previous close.
SPLK has been the topic of a number of other research reports. Morgan Stanley lowered Splunk from an “overweight” rating to an “equal weight” rating and set a $77.00 target price on the stock. in a report on Monday, October 2nd. Northland Securities reissued a “buy” rating and issued a $80.00 target price on shares of Splunk in a report on Thursday. Guggenheim reissued a “buy” rating and issued a $70.00 target price on shares of Splunk in a report on Saturday, August 19th. BMO Capital Markets reissued a “buy” rating and issued a $71.00 target price on shares of Splunk in a report on Wednesday, September 27th. Finally, Cowen and Company reissued a “buy” rating and issued a $72.00 target price on shares of Splunk in a report on Thursday, September 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $73.91.
Shares of Splunk (NASDAQ:SPLK) opened at 64.09 on Monday. Splunk has a 12 month low of $50.64 and a 12 month high of $69.61. The stock’s market cap is $8.97 billion. The company has a 50-day moving average price of $66.47 and a 200-day moving average price of $62.66.
Splunk (NASDAQ:SPLK) last released its quarterly earnings results on Thursday, August 24th. The software company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. The company had revenue of $279.96 million for the quarter, compared to analyst estimates of $268.72 million. Splunk had a negative return on equity of 75.81% and a negative net margin of 36.81%. The firm’s revenue was up 31.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 earnings per share. On average, analysts expect that Splunk will post $0.54 EPS for the current fiscal year.
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In other Splunk news, Director Godfrey Sullivan sold 40,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $58.13, for a total transaction of $2,325,200.00. Following the completion of the sale, the director now directly owns 744,540 shares in the company, valued at $43,280,110.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Ledger Susan St. sold 677 shares of the company’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $69.52, for a total value of $47,065.04. Following the sale, the senior vice president now owns 168,376 shares of the company’s stock, valued at $11,705,499.52. The disclosure for this sale can be found here. Insiders sold 628,881 shares of company stock valued at $40,315,252 over the last quarter. Insiders own 1.43% of the company’s stock.
Large investors have recently made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. increased its stake in Splunk by 24.1% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,375 shares of the software company’s stock worth $195,000 after acquiring an additional 656 shares during the last quarter. IFP Advisors Inc increased its stake in Splunk by 6.2% during the second quarter. IFP Advisors Inc now owns 3,508 shares of the software company’s stock worth $200,000 after acquiring an additional 204 shares during the last quarter. Diversified Trust Co increased its stake in Splunk by 11.7% during the second quarter. Diversified Trust Co now owns 3,806 shares of the software company’s stock worth $217,000 after acquiring an additional 400 shares during the last quarter. Cipher Capital LP acquired a new stake in Splunk during the second quarter worth about $217,000. Finally, Achmea Investment Management B.V. acquired a new stake in Splunk during the first quarter worth about $230,000.
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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