Splunk (NASDAQ:SPLK) had its price objective upped by equities researchers at Mizuho from $90.00 to $100.00 in a research report issued on Thursday, MarketBeat reports. The firm presently has a “buy” rating on the software company’s stock. Mizuho’s price target suggests a potential upside of 7.94% from the stock’s previous close.
Other equities research analysts have also recently issued research reports about the company. Canaccord Genuity reissued a “buy” rating and issued a $90.00 price objective (up previously from $80.00) on shares of Splunk in a research note on Friday, November 17th. Robert W. Baird reiterated an “average” rating and set a $85.00 price target (up from $75.00) on shares of Splunk in a report on Monday, November 20th. Barclays lifted their price target on Splunk from $73.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, November 17th. Piper Jaffray Companies raised their target price on Splunk to $85.00 and gave the stock an “overweight” rating in a research report on Friday, November 17th. Finally, Zacks Investment Research downgraded Splunk from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirty have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $84.59.
Splunk (NASDAQ SPLK) traded down $3.71 during trading on Thursday, reaching $92.64. The company’s stock had a trading volume of 2,279,142 shares, compared to its average volume of 1,480,000. The company has a market capitalization of $13,100.00, a P/E ratio of -41.54 and a beta of 2.04. Splunk has a 1 year low of $54.17 and a 1 year high of $97.27.
Splunk (NASDAQ:SPLK) last issued its quarterly 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. Splunk had a negative return on equity of 72.06% and a negative net margin of 32.72%. The company had revenue of $328.65 million during the quarter, compared to analysts’ expectations of $309.01 million. sell-side analysts anticipate that Splunk will post -1.3 earnings per share for the current fiscal year.
In other news, SVP Leonard R. Stein sold 4,851 shares of the stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $80.54, for a total value of $390,699.54. Following the completion of the sale, the senior vice president now owns 89,157 shares of the company’s stock, valued at approximately $7,180,704.78. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO David F. Conte sold 6,993 shares of the 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 sale, the chief financial officer now directly owns 110,364 shares of the company’s stock, valued at approximately $8,909,685.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,720 shares of company stock valued at $2,477,118. Insiders own 1.43% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in SPLK. Carmignac Gestion acquired a new stake in Splunk during the 3rd quarter worth approximately $198,193,000. Two Sigma Advisers LP grew its position in shares of Splunk by 93.6% in the 4th quarter. Two Sigma Advisers LP now owns 1,454,773 shares of the software company’s stock valued at $120,513,000 after buying an additional 703,500 shares during the last quarter. Carillon Tower Advisers Inc. purchased a new position in shares of Splunk in the 4th quarter valued at $34,127,000. JPMorgan Chase & Co. grew its position in shares of Splunk by 9.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,593,033 shares of the software company’s stock valued at $308,053,000 after buying an additional 389,565 shares during the last quarter. Finally, Two Sigma Investments LP grew its position in Splunk by 42.8% during the 4th quarter. Two Sigma Investments LP now owns 1,205,331 shares of the software company’s stock worth $99,850,000 after purchasing an additional 361,491 shares during the last quarter.
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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