Splunk Inc. (SPLK) Upgraded by Vetr Inc. to “Strong-Buy”
Vetr upgraded shares of Splunk Inc. (NASDAQ:SPLK) from a buy rating to a strong-buy rating in a research note published on Wednesday. They currently have $66.00 price target on the software company’s stock.
Several other research analysts have also issued reports on SPLK. BMO Capital Markets reissued an outperform rating and set a $62.00 target price (up from $58.00) on shares of Splunk in a research note on Wednesday, June 15th. Stifel Nicolaus increased their target price on shares of Splunk from $56.00 to $62.00 and gave the stock a buy rating in a research note on Thursday, June 16th. Drexel Hamilton reissued a buy rating and set a $85.00 target price on shares of Splunk in a research note on Wednesday, July 13th. Citigroup Inc. lowered shares of Splunk from a buy rating to a neutral rating and set a $62.00 target price on the stock. in a research note on Wednesday, July 20th. Finally, Maxim Group increased their target price on shares of Splunk from $75.00 to $84.00 and gave the stock a buy rating in a research note on Thursday, July 21st. Twelve analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $67.55.
Splunk (NASDAQ:SPLK) opened at 55.847 on Wednesday. The stock’s 50 day moving average is $59.62 and its 200 day moving average is $56.33. Splunk has a 1-year low of $29.85 and a 1-year high of $66.90. The firm’s market capitalization is $7.51 billion.
Splunk (NASDAQ:SPLK) last posted its quarterly earnings data on Thursday, August 25th. The software company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.02. Splunk had a negative net margin of 42.84% and a negative return on equity of 38.45%. The company had revenue of $212.80 million for the quarter, compared to analyst estimates of $200.52 million. During the same period in the prior year, the firm posted $0.03 EPS. The company’s quarterly revenue was up 43.5% on a year-over-year basis. Analysts predict that Splunk will post $0.29 EPS for the current fiscal year.
In related news, CFO David F. Conte sold 10,575 shares of the firm’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $63.87, for a total value of $675,425.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Godfrey Sullivan sold 40,000 shares of the firm’s stock in a transaction on Wednesday, October 12th. The stock was sold at an average price of $57.66, for a total value of $2,306,400.00. Following the completion of the sale, the director now owns 311,676 shares of the company’s stock, valued at $17,971,238.16. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. Winslow Capital Management LLC increased its stake in shares of Splunk by 488.5% in the second quarter. Winslow Capital Management LLC now owns 4,021,073 shares of the software company’s stock worth $217,863,000 after buying an additional 3,337,773 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Splunk during the first quarter worth about $93,277,000. JPMorgan Chase & Co. increased its stake in shares of Splunk by 31.7% in the second quarter. JPMorgan Chase & Co. now owns 4,642,643 shares of the software company’s stock worth $251,538,000 after buying an additional 1,118,339 shares in the last quarter. Fiera Capital Corp bought a new stake in shares of Splunk during the second quarter worth about $46,849,000. Finally, 1832 Asset Management L.P. bought a new stake in shares of Splunk during the second quarter worth about $60,529,000. Institutional investors own 98.34% of the company’s stock.
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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