Splunk’s (SPLK) Neutral Rating Reiterated at Wedbush

Splunk (NASDAQ:SPLK)‘s stock had its “neutral” rating restated by Wedbush in a research note issued to investors on Wednesday. They currently have a $78.00 target price on the software company’s stock, down from their previous target price of $94.00. Wedbush’s price target suggests a potential downside of 15.54% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Co reiterated a “buy” rating and issued a $95.00 price objective on shares of Splunk in a report on Friday, November 17th. BidaskClub upgraded shares of Splunk from a “hold” rating to a “buy” rating in a report on Wednesday, February 7th. Jefferies Group restated a “buy” rating and issued a $88.00 price target on shares of Splunk in a research note on Friday, November 17th. Maxim Group upped their price target on shares of Splunk from $79.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, November 17th. Finally, Bank of America upped their price target on shares of Splunk from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, November 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirty have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $84.29.

Splunk (NASDAQ SPLK) traded up $3.57 during trading hours on Wednesday, hitting $92.35. 2,350,000 shares of the company’s stock traded hands, compared to its average volume of 1,460,000. Splunk has a 12-month low of $54.17 and a 12-month high of $93.68. The firm has a market capitalization of $13,060.00, a P/E ratio of -41.41 and a beta of 2.04.

Splunk (NASDAQ:SPLK) last released its quarterly earnings data on Thursday, November 16th. The software company reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.59. Splunk had a negative net margin of 32.72% and a negative return on equity of 72.06%. The firm had revenue of $328.65 million for the quarter, compared to the consensus estimate of $309.01 million. analysts anticipate that Splunk will post -1.3 earnings per share for the current year.

In other news, insider Douglas Merritt sold 10,126 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $80.05, for a total value of $810,586.30. Following the completion of the transaction, the insider now owns 189,079 shares of the company’s stock, valued at $15,135,773.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Godfrey Sullivan sold 8,750 shares of the stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $81.29, for a total transaction of $711,287.50. Following the completion of the transaction, the director now directly owns 207,239 shares of the company’s stock, valued at approximately $16,846,458.31. The disclosure for this sale can be found here. Insiders sold 30,720 shares of company stock valued at $2,477,118 in the last three months. Company insiders own 1.43% of the company’s stock.

Several hedge funds have recently bought and sold shares of SPLK. The Manufacturers Life Insurance Company raised its holdings in Splunk by 8.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,950 shares of the software company’s stock valued at $282,000 after buying an additional 389 shares during the last quarter. Penserra Capital Management LLC raised its holdings in Splunk by 18.6% in the 4th quarter. Penserra Capital Management LLC now owns 4,060 shares of the software company’s stock valued at $336,000 after buying an additional 638 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its holdings in Splunk by 3.6% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 22,794 shares of the software company’s stock valued at $1,514,000 after buying an additional 800 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Splunk by 4.6% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 18,640 shares of the software company’s stock valued at $1,238,000 after buying an additional 820 shares during the last quarter. Finally, CIBC Asset Management Inc raised its holdings in Splunk by 17.6% in the 3rd quarter. CIBC Asset Management Inc now owns 5,741 shares of the software company’s stock valued at $381,000 after buying an additional 860 shares during the last quarter.

TRADEMARK VIOLATION WARNING: “Splunk’s (SPLK) Neutral Rating Reiterated at Wedbush” was first reported by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another website, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/02/14/splunks-splk-neutral-rating-reiterated-at-wedbush.html.

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)

Receive News & Ratings for Splunk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Splunk and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply