Splunk Inc. (SPLK) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Splunk Inc. (NASDAQ:SPLK) from a hold rating to a buy rating in a report released on Wednesday morning. They currently have $74.00 price objective on the software company’s 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. “

Other equities analysts have also issued research reports about the company. Cowen and Company reissued a buy rating on shares of Splunk in a report on Friday, August 18th. BMO Capital Markets reissued a buy rating and set a $71.00 price target on shares of Splunk in a report on Wednesday, July 12th. Guggenheim raised Splunk from a neutral rating to a buy rating and raised their price target for the stock from $69.00 to $70.00 in a report on Thursday, June 22nd. Wedbush lowered Splunk from an outperform rating to a neutral rating and lowered their price target for the stock from $72.00 to $63.00 in a report on Thursday, June 15th. Finally, Mizuho reaffirmed a hold rating and issued a $60.00 price objective on shares of Splunk in a report on Thursday, August 24th. Twelve analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $73.06.

Shares of Splunk (NASDAQ SPLK) traded up 0.63% during trading on Wednesday, hitting $66.85. The stock had a trading volume of 816,094 shares. Splunk has a 12-month low of $50.64 and a 12-month high of $69.61. The stock’s market cap is $9.36 billion. The stock’s 50-day moving average is $66.13 and its 200-day moving average is $62.47.

Splunk (NASDAQ:SPLK) last released its quarterly earnings results on Thursday, August 24th. The software company reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.02. Splunk had a negative return on equity of 75.81% and a negative net margin of 36.81%. The firm had revenue of $279.96 million for the quarter, compared to analyst estimates of $268.72 million. During the same quarter last year, the company posted $0.05 earnings per share. The business’s revenue was up 31.6% on a year-over-year basis. On average, equities research analysts expect that Splunk will post $0.54 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Splunk Inc. (SPLK) Lifted to Buy at Zacks Investment Research” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this story on another publication, it was illegally copied and republished in violation of US & international trademark & copyright law. The original version of this story can be read at https://ledgergazette.com/2017/10/08/splunk-inc-splk-lifted-to-buy-at-zacks-investment-research.html.

In other Splunk news, Director Godfrey Sullivan sold 40,000 shares of the business’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $57.69, for a total value of $2,307,600.00. Following the completion of the transaction, the director now directly owns 789,540 shares in the company, valued at approximately $45,548,562.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David F. Conte sold 10,525 shares of the business’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $66.03, for a total value of $694,965.75. The disclosure for this sale can be found here. Insiders sold a total of 588,881 shares of company stock valued at $37,078,452 over the last quarter. 1.43% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of SPLK. BlackRock Inc. raised its holdings in Splunk by 5,553.3% in the 1st quarter. BlackRock Inc. now owns 6,931,967 shares of the software company’s stock valued at $431,791,000 after acquiring an additional 6,809,349 shares during the last quarter. Wellington Management Group LLP raised its holdings in Splunk by 2,492.5% in the 1st quarter. Wellington Management Group LLP now owns 1,350,153 shares of the software company’s stock valued at $84,102,000 after acquiring an additional 1,298,074 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Splunk by 40.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,942,003 shares of the software company’s stock valued at $224,259,000 after buying an additional 1,128,410 shares during the period. Harbour Capital Advisors LLC grew its stake in shares of Splunk by 6,237.5% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,061,852 shares of the software company’s stock valued at $18,665,000 after buying an additional 1,045,097 shares during the period. Finally, ETF Managers Group LLC purchased a new stake in shares of Splunk during the 2nd quarter valued at $39,864,000.

About Splunk

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.

Get a free copy of the Zacks research report on Splunk (SPLK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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. “

Other equities analysts have also issued research reports about the company. Cowen and Company reissued a buy rating on shares of Splunk in a report on Friday, August 18th. BMO Capital Markets reissued a buy rating and set a $71.00 price target on shares of Splunk in a report on Wednesday, July 12th. Guggenheim raised Splunk from a neutral rating to a buy rating and raised their price target for the stock from $69.00 to $70.00 in a report on Thursday, June 22nd. Wedbush lowered Splunk from an outperform rating to a neutral rating and lowered their price target for the stock from $72.00 to $63.00 in a report on Thursday, June 15th. Finally, Mizuho reaffirmed a hold rating and issued a $60.00 price objective on shares of Splunk in a report on Thursday, August 24th. Twelve analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $73.06.

Shares of Splunk (NASDAQ SPLK) traded up 0.63% during trading on Wednesday, hitting $66.85. The stock had a trading volume of 816,094 shares. Splunk has a 12-month low of $50.64 and a 12-month high of $69.61. The stock’s market cap is $9.36 billion. The stock’s 50-day moving average is $66.13 and its 200-day moving average is $62.47.

Splunk (NASDAQ:SPLK) last released its quarterly earnings results on Thursday, August 24th. The software company reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.02. Splunk had a negative return on equity of 75.81% and a negative net margin of 36.81%. The firm had revenue of $279.96 million for the quarter, compared to analyst estimates of $268.72 million. During the same quarter last year, the company posted $0.05 earnings per share. The business’s revenue was up 31.6% on a year-over-year basis. On average, equities research analysts expect that Splunk will post $0.54 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Splunk Inc. (SPLK) Lifted to Buy at Zacks Investment Research” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this story on another publication, it was illegally copied and republished in violation of US & international trademark & copyright law. The original version of this story can be read at https://ledgergazette.com/2017/10/08/splunk-inc-splk-lifted-to-buy-at-zacks-investment-research.html.

In other Splunk news, Director Godfrey Sullivan sold 40,000 shares of the business’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $57.69, for a total value of $2,307,600.00. Following the completion of the transaction, the director now directly owns 789,540 shares in the company, valued at approximately $45,548,562.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David F. Conte sold 10,525 shares of the business’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $66.03, for a total value of $694,965.75. The disclosure for this sale can be found here. Insiders sold a total of 588,881 shares of company stock valued at $37,078,452 over the last quarter. 1.43% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of SPLK. BlackRock Inc. raised its holdings in Splunk by 5,553.3% in the 1st quarter. BlackRock Inc. now owns 6,931,967 shares of the software company’s stock valued at $431,791,000 after acquiring an additional 6,809,349 shares during the last quarter. Wellington Management Group LLP raised its holdings in Splunk by 2,492.5% in the 1st quarter. Wellington Management Group LLP now owns 1,350,153 shares of the software company’s stock valued at $84,102,000 after acquiring an additional 1,298,074 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Splunk by 40.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,942,003 shares of the software company’s stock valued at $224,259,000 after buying an additional 1,128,410 shares during the period. Harbour Capital Advisors LLC grew its stake in shares of Splunk by 6,237.5% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,061,852 shares of the software company’s stock valued at $18,665,000 after buying an additional 1,045,097 shares during the period. Finally, ETF Managers Group LLC purchased a new stake in shares of Splunk during the 2nd quarter valued at $39,864,000.

About Splunk

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.

Get a free copy of the Zacks research report on Splunk (SPLK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Splunk (NASDAQ:SPLK)

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