Splunk Inc (NASDAQ:SPLK) – Analysts at Wedbush lowered their FY2018 earnings estimates for shares of Splunk in a research report issued to clients and investors on Wednesday. Wedbush analyst S. Koenig now anticipates that the software company will earn ($1.34) per share for the year, down from their previous forecast of ($1.25). Wedbush currently has a “Neutral” rating and a $78.00 target price on the stock. Wedbush also issued estimates for Splunk’s Q4 2018 earnings at ($0.14) EPS, Q1 2019 earnings at ($0.52) EPS, Q2 2019 earnings at ($0.45) EPS, Q3 2019 earnings at ($0.33) EPS, Q4 2019 earnings at ($0.14) EPS, FY2019 earnings at ($1.45) EPS and FY2020 earnings at ($1.73) EPS.
Several other brokerages have also commented on SPLK. KeyCorp reaffirmed a “buy” rating on shares of Splunk in a research report on Friday, October 27th. Maxim Group reaffirmed a “buy” rating and set a $79.00 price target on shares of Splunk in a research report on Friday, October 27th. Zacks Investment Research lowered shares of Splunk from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Barclays raised shares of Splunk from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $80.00 to $105.00 in a research report on Monday, January 8th. Finally, Needham & Company LLC started coverage on shares of Splunk in a research report on Monday, October 23rd. They set a “buy” rating and a $95.00 price target for the company. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $84.59.
Splunk (NASDAQ SPLK) traded down $3.71 during trading hours on Monday, hitting $92.64. 2,279,200 shares of the stock were exchanged, compared to its average volume of 1,507,259. The firm has a market capitalization of $13,104.71, a price-to-earnings ratio of -21.35 and a beta of 2.04. Splunk has a twelve month low of $54.17 and a twelve month high of $97.27.
A number of hedge funds and other institutional investors have recently bought and sold shares of SPLK. SeaCrest Wealth Management LLC bought a new position in Splunk during the 4th quarter valued at $102,000. James Hambro & Partners bought a new position in Splunk during the 4th quarter valued at $124,000. Patten Group Inc. raised its holdings in shares of Splunk by 1,048.8% during the third quarter. Patten Group Inc. now owns 24,746 shares of the software company’s stock worth $143,000 after purchasing an additional 22,592 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in shares of Splunk during the third quarter worth $201,000. Finally, MANA Advisors LLC acquired a new stake in shares of Splunk during the fourth quarter worth $208,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.
In other Splunk news, SVP Leonard R. Stein sold 4,851 shares of the stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $80.54, for a total transaction of $390,699.54. Following the transaction, the senior vice president now directly owns 89,157 shares in the company, valued at approximately $7,180,704.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas Merritt sold 10,126 shares of the stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $80.05, for a total transaction of $810,586.30. Following the transaction, the insider now owns 189,079 shares in the company, valued at $15,135,773.95. The disclosure for this sale can be found here. Insiders sold 30,720 shares of company stock valued at $2,477,118 over the last 90 days. Insiders own 1.43% of the company’s stock.
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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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