Splunk Inc. (NASDAQ:SPLK) had its target price lifted by stock analysts at Piper Jaffray Companies to $85.00 in a research note issued to investors on Friday. The brokerage presently has an “overweight” rating on the software company’s stock. Piper Jaffray Companies’ price objective points to a potential upside of 22.66% from the stock’s previous close.

Several other research analysts have also weighed in on SPLK. Canaccord Genuity reiterated a “buy” rating and set a $90.00 target price (up from $80.00) on shares of Splunk in a report on Friday. BMO Capital Markets lifted their target price on Splunk from $71.00 to $83.00 and gave the stock an “outperform” rating in a report on Friday. Stifel Nicolaus lifted their target price on Splunk from $61.00 to $75.00 and gave the stock a “hold” rating in a report on Friday. Credit Suisse Group lifted their target price on Splunk from $80.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $88.00 target price on shares of Splunk in a report on Friday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $80.14.

Splunk (NASDAQ:SPLK) traded up $1.57 during mid-day trading on Friday, reaching $69.30. The company’s stock had a trading volume of 3,691,800 shares, compared to its average volume of 1,575,437. Splunk has a 52-week low of $50.64 and a 52-week high of $71.46.

Splunk (NASDAQ:SPLK) last posted its earnings results on Thursday, November 16th. The software company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.03. Splunk had a negative return on equity of 75.81% and a negative net margin of 36.81%. equities analysts predict that Splunk will post -1.47 EPS for the current year.

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In other Splunk news, CFO David F. Conte sold 21,589 shares of the company’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $68.99, for a total transaction of $1,489,425.11. Following the completion of the sale, the chief financial officer now directly owns 161,022 shares in the company, valued at $11,108,907.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Godfrey Sullivan sold 120,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $68.22, for a total value of $8,186,400.00. Following the sale, the director now owns 585,790 shares of the company’s stock, valued at $39,962,593.80. The disclosure for this sale can be found here. Insiders have sold 599,197 shares of company stock worth $40,200,725 in the last three months. 1.43% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Beacon Capital Management bought a new position in shares of Splunk in the 4th quarter valued at $0. TLP Group LLC bought a new position in shares of Splunk in the 1st quarter valued at $102,000. Patten Group Inc. lifted its stake in shares of Splunk by 3.6% in the 1st quarter. Patten Group Inc. now owns 2,154 shares of the software company’s stock valued at $131,000 after acquiring an additional 75 shares during the last quarter. LS Investment Advisors LLC lifted its stake in shares of Splunk by 5.5% in the 2nd quarter. LS Investment Advisors LLC now owns 2,367 shares of the software company’s stock valued at $128,000 after acquiring an additional 123 shares during the last quarter. Finally, Acrospire Investment Management LLC lifted its stake in shares of Splunk by 79.9% in the 1st quarter. Acrospire Investment Management LLC now owns 2,701 shares of the software company’s stock valued at $168,000 after acquiring an additional 1,200 shares during 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.

Analyst Recommendations for Splunk (NASDAQ:SPLK)

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