Vetr cut shares of Splunk Inc. (NASDAQ:SPLK) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday. They currently have $66.00 price target on the software company’s stock.
A number of other research analysts have also commented on the stock. Wedbush reiterated an outperform rating and set a $70.00 price objective (up previously from $60.00) on shares of Splunk in a research note on Friday, August 19th. Maxim Group lifted their price target on shares of Splunk from $75.00 to $84.00 and gave the stock a buy rating in a research report on Thursday, July 21st. Summit Redstone set a $72.00 price target on shares of Splunk and gave the stock a buy rating in a research report on Monday, September 19th. Drexel Hamilton reaffirmed a buy rating and issued a $85.00 price objective on shares of Splunk in a research note on Tuesday, August 23rd. Finally, Oppenheimer Holdings Inc. reaffirmed an outperform rating and issued a $80.00 price objective on shares of Splunk in a research note on Monday, August 29th. Twelve equities research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $67.61.
Splunk (NASDAQ:SPLK) opened at 60.20 on Tuesday. Splunk has a 52-week low of $29.85 and a 52-week high of $66.90. The firm’s 50-day moving average price is $60.17 and its 200 day moving average price is $55.99. The firm’s market cap is $8.10 billion.
Splunk (NASDAQ:SPLK) last issued its earnings results on Thursday, August 25th. The software company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.02. Splunk had a negative net margin of 42.84% and a negative return on equity of 38.45%. The firm had revenue of $212.80 million for the quarter, compared to analysts’ expectations of $200.52 million. During the same quarter last year, the company posted $0.03 earnings per share. Splunk’s revenue was up 43.5% on a year-over-year basis. On average, equities analysts anticipate that Splunk will post $0.29 earnings per share for the current year.
In other news, SVP Steven R. Sommer sold 5,000 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $63.80, for a total value of $319,000.00. Following the transaction, the senior vice president now directly owns 212,527 shares of the company’s stock, valued at $13,559,222.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David F. Conte sold 10,575 shares of the stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $63.87, for a total transaction of $675,425.25. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of SPLK. Quadrature Capital Ltd bought a new position in shares of Splunk during the first quarter valued at $3,628,000. Lazard Asset Management LLC raised its position in shares of Splunk by 20.7% in the first quarter. Lazard Asset Management LLC now owns 1,040,590 shares of the software company’s stock valued at $50,916,000 after buying an additional 178,600 shares during the last quarter. State Street Corp raised its position in shares of Splunk by 3.4% in the first quarter. State Street Corp now owns 2,472,035 shares of the software company’s stock valued at $120,959,000 after buying an additional 80,177 shares during the last quarter. Ithaka Group LLC raised its position in shares of Splunk by 1.6% in the first quarter. Ithaka Group LLC now owns 230,667 shares of the software company’s stock valued at $11,287,000 after buying an additional 3,574 shares during the last quarter. Finally, Aviva PLC raised its position in shares of Splunk by 45.4% in the first quarter. Aviva PLC now owns 63,929 shares of the software company’s stock valued at $3,128,000 after buying an additional 19,969 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors.
Splunk Company Profile
Splunk Inc is a provider of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. It operates through the development and marketing of software solutions segment, which enables its customers to gain real-time operational intelligence by harnessing the value of their data.
To view Vetr’s full report, visit Vetr’s official website.
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