Splunk Inc. (NASDAQ:SPLK) had its target price cut by Citigroup Inc. from $65.00 to $63.00 in a research note released on Wednesday. They currently have a neutral rating on the software company’s stock.
A number of other brokerages have also recently weighed in on SPLK. Barclays PLC upped their price target on Splunk from $51.00 to $56.00 and gave the company an equal weight rating in a research report on Friday, August 26th. Stifel Nicolaus cut Splunk from a buy rating to a hold rating in a research report on Friday, August 26th. They noted that the move was a valuation call. Morgan Stanley upped their price target on Splunk from $58.00 to $74.00 and gave the company an overweight rating in a research report on Monday, August 8th. Drexel Hamilton restated a buy rating and set a $85.00 target price on shares of Splunk in a report on Wednesday, July 13th. Finally, Wedbush restated an outperform rating and set a $72.00 target price (up previously from $70.00) on shares of Splunk in a report on Sunday, August 28th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $67.55.
Shares of Splunk (NASDAQ:SPLK) opened at 56.71 on Wednesday. The firm has a 50-day moving average of $59.16 and a 200 day moving average of $56.40. Splunk has a 12 month low of $29.85 and a 12 month high of $66.90. The company’s market capitalization is $7.63 billion.
Splunk (NASDAQ:SPLK) last announced its quarterly earnings results on Thursday, August 25th. The software company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. Splunk had a negative return on equity of 38.45% and a negative net margin of 42.84%. The firm had revenue of $212.80 million for the quarter, compared to analysts’ expectations of $200.52 million. During the same period in the prior year, the business posted $0.03 earnings per share. The business’s revenue was up 43.5% compared to the same quarter last year. On average, equities research analysts expect that Splunk will post $0.29 earnings per share for the current fiscal year.
In other news, SVP Leonard R. Stein sold 1,075 shares of the business’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $60.00, for a total transaction of $64,500.00. Following the completion of the transaction, the senior vice president now owns 115,262 shares of the company’s stock, valued at approximately $6,915,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Godfrey Sullivan sold 40,000 shares of the business’s stock in a transaction on Wednesday, October 12th. The stock was sold at an average price of $57.66, for a total value of $2,306,400.00. Following the transaction, the director now directly owns 311,676 shares of the company’s stock, valued at approximately $17,971,238.16. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. LS Investment Advisors LLC raised its stake in shares of Splunk by 5.5% in the second quarter. LS Investment Advisors LLC now owns 2,367 shares of the software company’s stock worth $128,000 after buying an additional 123 shares in the last quarter. Advisor Group Inc. purchased a new stake in shares of Splunk during the second quarter worth $157,000. Seven Eight Capital LLC purchased a new stake in shares of Splunk during the second quarter worth $193,000. Shelton Capital Management purchased a new stake in shares of Splunk during the second quarter worth $206,000. Finally, Pacer Advisors Inc. raised its stake in shares of Splunk by 986.4% in the second quarter. Pacer Advisors Inc. now owns 3,846 shares of the software company’s stock worth $208,000 after buying an additional 3,492 shares in the last quarter. 98.28% of the stock is owned by institutional investors.
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.
Receive News & Ratings for Splunk Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Splunk Inc. and related companies with MarketBeat.com's FREE daily email newsletter.