Splunk Inc. (NASDAQ:SPLK) had its price target raised by research analysts at Piper Jaffray Companies to $85.00 in a report issued on Friday. The brokerage presently has an “overweight” rating on the software company’s stock. Piper Jaffray Companies’ price objective would suggest a potential upside of 22.66% from the stock’s previous close.
Other research analysts also recently issued reports about the company. Zacks Investment Research raised Splunk from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Drexel Hamilton reissued a “buy” rating and issued a $93.00 target price on shares of Splunk in a report on Thursday. Jefferies Group LLC reissued a “buy” rating and issued a $88.00 target price on shares of Splunk in a report on Friday. Wells Fargo & Company reissued an “outperform” rating and issued a $95.00 target price on shares of Splunk in a report on Friday. Finally, Mizuho upgraded shares of Splunk from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $60.00 to $90.00 in a research report on Friday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-nine have given a buy rating to the company. 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 had a trading volume of 3,691,800 shares, compared to its average volume of 1,575,437. Splunk has a fifty-two week low of $50.64 and a fifty-two week high of $71.46.
Splunk (NASDAQ:SPLK) last released its quarterly earnings data on Thursday, November 16th. The software company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. Splunk had a negative return on equity of 75.81% and a negative net margin of 36.81%. analysts anticipate 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 firm’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $68.99, for a total value of $1,489,425.11. Following the sale, the chief financial officer now owns 161,022 shares in the company, valued at $11,108,907.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas M. Neustaetter sold 3,614 shares of the firm’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $67.70, for a total transaction of $244,667.80. Following the completion of the sale, the director now owns 12,871 shares in the company, valued at approximately $871,366.70. The disclosure for this sale can be found here. Insiders have sold a total of 599,197 shares of company stock worth $40,200,725 in the last quarter. 1.43% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the business. Crossmark Global Holdings Inc. acquired a new stake in Splunk in the third quarter valued at approximately $201,000. FDx Advisors Inc. acquired a new stake in Splunk in the third quarter valued at approximately $210,000. Commonwealth Equity Services Inc acquired a new stake in Splunk in the third quarter valued at approximately $210,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Splunk by 24.1% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,375 shares of the software company’s stock valued at $195,000 after acquiring an additional 656 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in shares of Splunk by 6.2% during the second quarter. IFP Advisors Inc now owns 3,508 shares of the software company’s stock valued at $200,000 after acquiring an additional 204 shares during the last quarter.
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.
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