Splunk Inc. (NASDAQ:SPLK)‘s stock had its “overweight” rating restated by research analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Friday.

A number of other analysts have also commented on SPLK. RBC Capital Markets reaffirmed a “buy” rating and issued a $70.00 price target (up previously from $60.00) on shares of Splunk in a research note on Friday, August 19th. Stifel Nicolaus raised their price target on Splunk from $56.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, June 16th. Vetr lowered Splunk from a “strong-buy” rating to a “buy” rating and set a $66.00 price target for the company. in a research note on Wednesday, September 28th. Royal Bank Of Canada raised their price target on Splunk from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, August 19th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $51.00 price target on shares of Splunk in a research note on Thursday, August 25th. Eleven analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. Splunk has a consensus rating of “Buy” and a consensus price target of $67.55.

Analyst Recommendations for Splunk (NASDAQ:SPLK)

Splunk (NASDAQ:SPLK) traded down 0.435% during mid-day trading on Friday, hitting $56.095. 1,225,151 shares of the stock traded hands. The firm’s market cap is $7.55 billion. The firm’s 50-day moving average is $59.40 and its 200 day moving average is $56.33. Splunk has a 52-week low of $29.85 and a 52-week high of $66.90.

Splunk (NASDAQ:SPLK) last announced its quarterly earnings results on Thursday, August 25th. The software company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Splunk had a negative return on equity of 38.45% and a negative net margin of 42.84%. The company earned $212.80 million during the quarter, compared to analyst estimates of $200.52 million. During the same quarter last year, the firm posted $0.03 earnings per share. The firm’s revenue was up 43.5% on a year-over-year basis. Equities analysts predict that Splunk will post $0.29 EPS for the current fiscal year.

In other news, CFO David F. Conte sold 10,575 shares of the stock in a transaction on Friday, August 12th. The stock was sold at an average price of $63.87, for a total transaction of $675,425.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Godfrey Sullivan sold 40,000 shares of the 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 transaction, the director now directly owns 311,676 shares in the company, valued at approximately $17,971,238.16. The disclosure for this sale can be found here. 3.00% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Splunk by 4.7% in the second quarter. Vanguard Group Inc. now owns 9,693,325 shares of the software company’s stock worth $525,184,000 after buying an additional 438,237 shares during the last quarter. Baillie Gifford & Co. increased its position in Splunk by 0.9% in the second quarter. Baillie Gifford & Co. now owns 7,750,654 shares of the software company’s stock worth $419,930,000 after buying an additional 69,890 shares during the last quarter. JPMorgan Chase & Co. increased its position in 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 during the last quarter. Winslow Capital Management LLC increased its position in 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 during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in Splunk by 4.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,359,248 shares of the software company’s stock worth $182,004,000 after buying an additional 143,029 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Splunk Company Profile

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.

5 Day Chart for NASDAQ:SPLK

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