Splunk (NASDAQ:SPLK) had its price target hoisted by stock analysts at Deutsche Bank to $130.00 in a research note issued to investors on Friday, The Fly reports. The firm presently has a “buy” rating on the software company’s stock. Deutsche Bank’s price target suggests a potential upside of 11.77% from the company’s current price.
SPLK has been the subject of a number of other reports. ValuEngine raised Splunk from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. BidaskClub raised Splunk from a “buy” rating to a “strong-buy” rating in a report on Friday, April 13th. Jefferies Group reissued a “buy” rating and issued a $115.00 price target on shares of Splunk in a report on Wednesday, March 28th. Zacks Investment Research cut Splunk from a “hold” rating to a “sell” rating in a report on Tuesday, February 20th. Finally, Bank of America raised their price target on Splunk from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, March 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $105.49.
Splunk opened at $116.31 on Friday, MarketBeat.com reports. Splunk has a twelve month low of $54.17 and a twelve month high of $119.00. The company has a market cap of $16.91 billion, a price-to-earnings ratio of -88.79 and a beta of 1.85.
Splunk (NASDAQ:SPLK) last posted its quarterly earnings data on Thursday, May 24th. The software company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. Splunk had a negative return on equity of 31.42% and a negative net margin of 20.39%. The company had revenue of $311.60 million during the quarter, compared to analysts’ expectations of $297.58 million. During the same period last year, the firm earned ($0.01) EPS. The firm’s revenue for the quarter was up 37.4% on a year-over-year basis. equities analysts predict that Splunk will post -1.14 earnings per share for the current fiscal year.
In other Splunk news, CFO David F. Conte sold 12,969 shares of the firm’s stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $107.62, for a total transaction of $1,395,723.78. Following the completion of the transaction, the chief financial officer now owns 106,582 shares of the company’s stock, valued at $11,470,354.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas Merritt sold 33,734 shares of the firm’s stock in a transaction on Thursday, April 5th. The stock was sold at an average price of $98.71, for a total value of $3,329,883.14. Following the transaction, the insider now directly owns 318,894 shares of the company’s stock, valued at approximately $31,478,026.74. The disclosure for this sale can be found here. Insiders have sold 163,912 shares of company stock valued at $16,716,531 in the last three months. 0.36% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in SPLK. Whale Rock Capital Management LLC purchased a new position in Splunk during the first quarter worth $141,945,000. Two Sigma Advisers LP increased its position in Splunk by 93.6% during the fourth quarter. Two Sigma Advisers LP now owns 1,454,773 shares of the software company’s stock worth $120,513,000 after buying an additional 703,500 shares in the last quarter. Carillon Tower Advisers Inc. purchased a new position in Splunk during the fourth quarter worth $34,127,000. Millennium Management LLC increased its position in Splunk by 100.8% during the first quarter. Millennium Management LLC now owns 725,772 shares of the software company’s stock worth $71,409,000 after buying an additional 364,320 shares in the last quarter. Finally, Two Sigma Investments LP increased its position in Splunk by 42.8% during the fourth quarter. Two Sigma Investments LP now owns 1,205,331 shares of the software company’s stock worth $99,850,000 after buying an additional 361,491 shares in the last quarter. 93.40% of the stock is owned by institutional investors.
Splunk Company Profile
Splunk Inc provides software solutions that enable organizations to gain real-time operational intelligence in the United States and internationally. Its products enable users to collect, index, search, explore, monitor, correlate, and analyze data regardless of format or source. The company offers Splunk Enterprise, a machine data platform with collection, indexing, search, reporting, analysis, alerting, monitoring, and data management capabilities; and Splunk Cloud.
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