Zacks Investment Research downgraded shares of Splunk (NASDAQ:SPLK) from a buy rating to a hold rating in a research report report published on Friday.
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. “
Several other research firms have also weighed in on SPLK. Canaccord Genuity reiterated a buy rating and issued a $90.00 target price (up from $80.00) on shares of Splunk in a report on Friday, November 17th. Robert W. Baird reiterated an average rating and issued a $85.00 target price (up from $75.00) on shares of Splunk in a report on Monday, November 20th. Piper Jaffray Companies boosted their target price on shares of Splunk to $85.00 and gave the company an overweight rating in a report on Friday, November 17th. Barclays boosted their target price on shares of Splunk from $73.00 to $80.00 and gave the company an equal weight rating in a report on Friday, November 17th. Finally, Citigroup reiterated a hold rating and issued a $73.00 target price on shares of Splunk in a report on Monday, November 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-nine have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $84.06.
Splunk (NASDAQ SPLK) traded up $0.19 during trading hours on Friday, reaching $89.64. 1,407,300 shares of the company’s stock traded hands, compared to its average volume of 1,530,000. The firm has a market cap of $12,680.00, a price-to-earnings ratio of -40.20 and a beta of 2.07. Splunk has a 12 month low of $52.89 and a 12 month high of $90.69.
Splunk (NASDAQ:SPLK) last posted its earnings results on Thursday, November 16th. The software company reported $0.17 earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.59. The company had revenue of $328.65 million for the quarter, compared to analyst estimates of $309.01 million. Splunk had a negative net margin of 32.72% and a negative return on equity of 72.06%. analysts forecast that Splunk will post -1.3 EPS for the current fiscal year.
In other Splunk news, CFO David F. Conte sold 6,993 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $80.73, for a total transaction of $564,544.89. Following the completion of the transaction, the chief financial officer now owns 110,364 shares in the company, valued at approximately $8,909,685.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ledger Susan St. sold 10,316 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $17,760,167.34. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 201,036 shares of company stock worth $14,132,192. 1.43% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Patten Group Inc. grew its holdings in Splunk by 1,048.8% during the 3rd quarter. Patten Group Inc. now owns 24,746 shares of the software company’s stock worth $143,000 after acquiring an additional 22,592 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Splunk by 24.1% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,375 shares of the software company’s stock worth $195,000 after acquiring an additional 656 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in Splunk during the 3rd quarter worth approximately $201,000. FDx Advisors Inc. acquired a new position in Splunk during the 3rd quarter worth approximately $210,000. Finally, Commonwealth Equity Services Inc acquired a new position in Splunk during the 3rd quarter worth approximately $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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