Splunk Inc. (SPLK) Earns “Outperform” Rating from Wedbush
Splunk Inc. (NASDAQ:SPLK)‘s stock had its “outperform” rating reissued by equities research analysts at Wedbush in a research report issued to clients and investors on Friday. They currently have a $72.00 price target on the software company’s stock. Wedbush’s price objective would suggest a potential upside of 24.68% from the company’s current price.
A number of other analysts have also recently issued reports on the stock. Maxim Group raised 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. Vetr raised shares of Splunk from a “buy” rating to a “strong-buy” rating and set a $67.00 price target on the stock in a research report on Monday, September 12th. Zacks Investment Research raised shares of Splunk from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research report on Thursday, October 27th. Summit Redstone set a $72.00 price target on shares of Splunk and gave the stock a “buy” rating in a research report on Monday, September 19th. Finally, Drexel Hamilton reaffirmed a “buy” rating and set a $85.00 price target on shares of Splunk in a research report on Tuesday, August 23rd. Eleven analysts have rated the stock with a hold rating and thirty have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $67.91.
Splunk (NASDAQ:SPLK) opened at 57.75 on Friday. The firm’s market capitalization is $7.77 billion. Splunk has a 12 month low of $29.85 and a 12 month high of $66.90. The stock’s 50 day moving average is $59.08 and its 200-day moving average is $57.72.
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, topping analysts’ consensus estimates of $0.03 by $0.02. The company earned $212.80 million during the quarter, compared to analysts’ expectations of $200.52 million. Splunk had a negative net margin of 42.84% and a negative return on equity of 38.45%. Splunk’s quarterly revenue was up 43.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.03 EPS. Equities analysts anticipate that Splunk will post $0.29 earnings per share for the current fiscal year.
In other news, insider Douglas Merritt sold 6,155 shares of the stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $58.10, for a total value of $357,605.50. Following the sale, the insider now directly owns 164,117 shares of the company’s stock, valued at $9,535,197.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Godfrey Sullivan sold 128,750 shares of the stock in a transaction dated Wednesday, September 14th. The stock was 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. Company insiders own 3.00% of the company’s stock.
Several large investors have recently made changes to their positions in the company. 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 during the last quarter. Advisor Group Inc. purchased a new stake in shares of Splunk during the second quarter worth about $157,000. Mn Services Vermogensbeheer B.V. increased its stake in shares of Splunk by 5.5% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 3,397 shares of the software company’s stock worth $199,000 after buying an additional 177 shares during the last quarter. Seven Eight Capital LLC purchased a new stake in shares of Splunk during the second quarter worth about $193,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Splunk during the third quarter worth about $219,000. 98.43% of the stock is currently owned by hedge funds and other 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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