Splunk (NASDAQ:SPLK) had its target price upped by BMO Capital Markets from $71.00 to $83.00 in a report released on Friday, November 17th, MarketBeat.com reports. The firm currently has an outperform rating on the software company’s stock.
Other analysts have also issued reports about the company. Zacks Investment Research upgraded Splunk from a sell rating to a hold rating in a research note on Wednesday, August 16th. Cowen restated a buy rating on shares of Splunk in a research note on Friday, August 18th. Wells Fargo & Company restated a buy rating and issued a $95.00 target price on shares of Splunk in a research note on Friday, November 17th. KeyCorp restated a buy rating and issued a $70.00 target price on shares of Splunk in a research note on Friday, August 25th. Finally, Credit Suisse Group started coverage on Splunk in a research report on Tuesday, September 5th. They issued an outperform rating and a $80.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-eight have issued a buy rating to the company. Splunk currently has a consensus rating of Buy and a consensus price target of $82.74.
Shares of Splunk (NASDAQ:SPLK) traded up $2.44 during trading hours on Friday, hitting $80.45. The stock had a trading volume of 1,821,516 shares, compared to its average volume of 1,653,972. Splunk has a 52 week low of $50.64 and a 52 week high of $84.88.
Splunk (NASDAQ:SPLK) last announced its earnings results on Thursday, November 16th. The software company reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.59. Splunk had a negative return on equity of 71.89% and a negative net margin of 32.72%. The company had revenue of $328.65 million during the quarter, compared to analyst estimates of $309.01 million. sell-side analysts predict that Splunk will post -1.3 EPS for the current year.
In other Splunk news, insider Ledger Susan St. sold 10,316 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $70.17, for a total transaction of $723,873.72. Following the transaction, the insider now owns 253,102 shares in the company, valued at $17,760,167.34. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Godfrey Sullivan sold 40,000 shares of Splunk stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $63.48, for a total value of $2,539,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 588,672 shares of company stock worth $39,505,760. Company insiders own 1.43% of the company’s stock.
Several large investors have recently added to or reduced their stakes in SPLK. Patten Group Inc. lifted its holdings in shares of Splunk by 1,048.8% during the 3rd quarter. Patten Group Inc. now owns 24,746 shares of the software company’s stock valued at $143,000 after purchasing an additional 22,592 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Splunk by 24.1% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,375 shares of the software company’s stock valued at $195,000 after purchasing an additional 656 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Splunk by 6.2% during the 2nd quarter. IFP Advisors Inc now owns 3,508 shares of the software company’s stock valued at $200,000 after purchasing an additional 204 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Splunk during the 3rd quarter valued at about $201,000. Finally, FDx Advisors Inc. bought a new position in shares of Splunk during the 3rd quarter valued at about $210,000.
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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.
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