Splunk’s (SPLK) Outperform Rating Reiterated at BMO Capital Markets
Splunk Inc. (NASDAQ:SPLK)‘s stock had its “outperform” rating restated by analysts at BMO Capital Markets in a research note issued to investors on Friday. They presently have a $66.00 price objective on the software company’s stock. BMO Capital Markets’ price target would suggest a potential upside of 12.47% from the stock’s previous close.
A number of other research analysts also recently issued reports on SPLK. Vetr downgraded shares of Splunk from a “strong-buy” rating to a “buy” rating and set a $66.00 target price for the company. in a research report on Wednesday. RBC Capital Markets reaffirmed a “buy” rating and issued a $70.00 price objective (up previously from $60.00) on shares of Splunk in a report on Friday, August 19th. Stifel Nicolaus lifted their price objective on shares of Splunk from $56.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, June 16th. Royal Bank Of Canada lifted their price objective on shares of Splunk from $60.00 to $70.00 and gave the company an “outperform” rating in a report on Friday, August 19th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $51.00 price objective on shares of Splunk in a report on Thursday, August 25th. Eleven analysts have rated the stock with a hold rating and thirty have issued a buy rating to the stock. Splunk presently has a consensus rating of “Buy” and an average price target of $67.61.
Splunk (NASDAQ:SPLK) traded up 1.65% during trading on Friday, reaching $58.68. The company had a trading volume of 1,470,323 shares. The company’s market capitalization is $7.89 billion. The company has a 50 day moving average price of $60.55 and a 200 day moving average price of $55.61. Splunk has a 52-week low of $29.85 and a 52-week high of $66.90.
Splunk (NASDAQ:SPLK) last posted its earnings results on Thursday, August 25th. The software company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The company earned $212.80 million during the quarter, compared to the consensus estimate of $200.52 million. Splunk had a negative net margin of 42.84% and a negative return on equity of 38.45%. The firm’s quarterly revenue was up 43.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.03 earnings per share. On average, equities analysts forecast that Splunk will post $0.29 EPS for the current fiscal year.
In other Splunk news, SVP Leonard R. Stein sold 1,075 shares of the stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $60.00, for a total value of $64,500.00. Following the sale, the senior vice president now directly owns 115,262 shares of the company’s stock, valued at approximately $6,915,720. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Godfrey Sullivan sold 128,750 shares of the stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $58.93, for a total transaction of $7,587,237.50. Following the completion of the sale, the director now directly owns 440,426 shares in the company, valued at $25,954,304.18. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the stock. LS Investment Advisors LLC increased its stake in shares of Splunk by 5.5% in the second quarter. LS Investment Advisors LLC now owns 2,367 shares of the software company’s stock worth $128,000 after buying an additional 123 shares in the last quarter. Advisor Group Inc. purchased a new stake in shares of Splunk during the second quarter worth approximately $157,000. Seven Eight Capital LLC purchased a new stake in shares of Splunk during the second quarter worth approximately $193,000. Shelton Capital Management purchased a new stake in shares of Splunk during the second quarter worth approximately $206,000. Finally, Pacer Advisors Inc. increased its stake in shares of Splunk by 986.4% in the second quarter. Pacer Advisors Inc. now owns 3,846 shares of the software company’s stock worth $208,000 after buying an additional 3,492 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors.
Splunk Inc is a provider of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. It operates through the development and marketing of software solutions segment, which enables its customers to gain real-time operational intelligence by harnessing the value of their data.
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