A number of research firms have changed their ratings and price targets for Splunk (NASDAQ: SPLK):

  • 10/19/2017 – Splunk had its “buy” rating reaffirmed by analysts at Northland Securities. They now have a $80.00 price target on the stock.
  • 10/11/2017 – Splunk was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 10/4/2017 – Splunk was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $74.00 price target on the stock. According to Zacks, “Splunk Inc. provides a software platform, which collects and indexes data and enables users to search, correlate, analyze, monitor and report on this data, all in real time. Its software is designed to help users in various roles, including IT and business professionals. Splunk Inc. is based in San Francisco, California. “
  • 10/2/2017 – Splunk was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating. They now have a $77.00 price target on the stock.
  • 10/1/2017 – Splunk was given a new $75.00 price target on by analysts at Robert W. Baird. They now have a “buy” rating on the stock.
  • 9/28/2017 – Splunk had its “buy” rating reaffirmed by analysts at Cowen and Company. They now have a $72.00 price target on the stock.
  • 9/27/2017 – Splunk had its “buy” rating reaffirmed by analysts at BMO Capital Markets. They now have a $71.00 price target on the stock.
  • 9/18/2017 – Splunk had its “buy” rating reaffirmed by analysts at Drexel Hamilton. They now have a $93.00 price target on the stock. They wrote, “We expect the cloud and security to be an important topic at next week’s conference, while we anticipate the theme around machine learning to become more of a focus for Splunk at the event. Recall, Splunk is targeting cloud revenue to expand from $47.8 million in FY:17 (with billings of $95 million) to $85 million in FY:18 (with billings of $150 million) with a long- term objective of generating cloud revenue of $250 million in FY:20 with billings of $400 million.””
  • 9/5/2017 – Splunk is now covered by analysts at Credit Suisse Group. They set an “outperform” rating and a $80.00 price target on the stock.
  • 9/1/2017 – Splunk was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 8/28/2017 – Splunk had its “neutral” rating reaffirmed by analysts at MKM Partners. They now have a $68.00 price target on the stock, up previously from $63.00.
  • 8/25/2017 – Splunk had its “buy” rating reaffirmed by analysts at KeyCorp. They now have a $70.00 price target on the stock.
  • 8/25/2017 – Splunk had its “buy” rating reaffirmed by analysts at UBS AG. They now have a $74.00 price target on the stock.
  • 8/25/2017 – Splunk was upgraded by analysts at Susquehanna Bancshares Inc from a “neutral” rating to a “positive” rating. They now have a $68.00 price target on the stock.
  • 8/25/2017 – Splunk had its “buy” rating reaffirmed by analysts at Mitsubishi UFJ Financial Group. They now have a $75.00 price target on the stock.
  • 8/25/2017 – Splunk had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $77.00 price target on the stock, up previously from $74.00.
  • 8/25/2017 – Splunk had its price target raised by analysts at BMO Capital Markets from $69.00 to $71.00. They now have an “outperform” rating on the stock.
  • 8/25/2017 – Splunk had its price target raised by analysts at Citigroup Inc. from $64.00 to $70.00. They now have a “neutral” rating on the stock.
  • 8/25/2017 – Splunk had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $66.00 price target on the stock.
  • 8/25/2017 – Splunk had its price target raised by analysts at Cowen and Company from $67.00 to $72.00. They now have an “outperform” rating on the stock.
  • 8/25/2017 – Splunk had its price target raised by analysts at Barclays PLC from $65.00 to $67.00. They now have an “equal weight” rating on the stock.
  • 8/25/2017 – Splunk was given a new $75.00 price target on by analysts at Robert W. Baird. They now have a “buy” rating on the stock.
  • 8/25/2017 – Splunk had its “buy” rating reaffirmed by analysts at Maxim Group. They now have a $85.00 price target on the stock.
  • 8/25/2017 – Splunk had its “buy” rating reaffirmed by analysts at Oppenheimer Holdings, Inc.. They now have a $80.00 price target on the stock.
  • 8/24/2017 – Splunk had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $81.00 price target on the stock.
  • 8/24/2017 – Splunk had its “hold” rating reaffirmed by analysts at Mizuho. They now have a $60.00 price target on the stock. They wrote, “We note that: 1) interest for the product offering remains high within ITOM and SIEM; 2) discounting levels were largely in-line with recent quarters; 3) pricing remains a key area of pushback among customers looking to expand deployments, SPLK seems more open to considering options for its largest customers; 4) we continue to pick up on complementary solutions being deployed alongside SPLK to limit data volume growth.””

Splunk Inc. (NASDAQ:SPLK) opened at 64.09 on Monday. Splunk Inc. has a 52-week low of $50.64 and a 52-week high of $69.61. The firm has a 50-day moving average price of $66.47 and a 200 day moving average price of $62.66. The firm’s market capitalization is $8.97 billion.

Splunk (NASDAQ:SPLK) last released its quarterly earnings data on Thursday, August 24th. The software company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The company had revenue of $279.96 million for the quarter, compared to the consensus estimate of $268.72 million. Splunk had a negative return on equity of 75.81% and a negative net margin of 36.81%. The company’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same period last year, the business posted $0.05 EPS. Analysts forecast that Splunk Inc. will post $0.54 EPS for the current year.

In related news, SVP Leonard R. Stein sold 4,851 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $67.79, for a total transaction of $328,849.29. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Godfrey Sullivan sold 40,000 shares of the firm’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $63.48, for a total value of $2,539,200.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 628,881 shares of company stock worth $40,315,252. Company insiders own 1.43% of the company’s stock.

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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