Splunk Inc. (NASDAQ:SPLK)‘s stock had its “buy” rating reaffirmed by stock analysts at Drexel Hamilton in a report released on Monday.

The analysts wrote, “We believe Splunk will slightly exceed our 3Q:FY17 revenue estimate of $229.7 million (up 32% YoY; Street is at $230.3 million) and meet our EPS projection of $0.07 (Street is at $0.08). Recall, Splunk’s 3Q:FY17 outlook calls for sales of $228-230 million.””

A number of other analysts also recently issued reports on the company. DA Davidson set a $83.00 price objective on Splunk and gave the stock a “buy” rating in a research report on Thursday. Wedbush reissued an “outperform” rating and set a $72.00 price objective on shares of Splunk in a research report on Friday, November 11th. MKM Partners reissued a “neutral” rating on shares of Splunk in a research report on Friday, November 4th. Zacks Investment Research downgraded Splunk from a “buy” rating to a “hold” rating in a research report on Tuesday, November 1st. Finally, Vetr downgraded Splunk from a “strong-buy” rating to a “buy” rating and set a $66.00 price objective for the company. in a research report on Monday, October 24th. Ten equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $66.77.

Analyst Recommendations for Splunk (NASDAQ:SPLK)

Splunk (NASDAQ:SPLK) traded down 1.49% during mid-day trading on Monday, hitting $57.46. 818,692 shares of the company’s stock traded hands. Splunk has a one year low of $29.85 and a one year high of $65.75. The firm’s 50-day moving average price is $59.12 and its 200-day moving average price is $58.41. The stock’s market cap is $7.73 billion.

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In other news, insider Douglas Merritt sold 6,155 shares of the company’s stock in a transaction on Wednesday, September 14th. The stock was 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 in the company, valued at $9,535,197.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Godfrey Sullivan sold 40,000 shares of the company’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $59.48, for a total value of $2,379,200.00. Following the completion of the sale, the director now owns 291,676 shares in the company, valued at $17,348,888.48. The disclosure for this sale can be found here. 3.00% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the stock. RS Investment Management Co. LLC increased its stake in shares of Splunk by 35.5% in the second quarter. RS Investment Management Co. LLC now owns 49,280 shares of the software company’s stock valued at $2,670,000 after buying an additional 12,900 shares in the last quarter. Pitcairn Co. increased its stake in shares of Splunk by 15.0% in the second quarter. Pitcairn Co. now owns 9,822 shares of the software company’s stock valued at $532,000 after buying an additional 1,278 shares in the last quarter. Shinko Asset Management Co. Ltd. increased its stake in shares of Splunk by 9,471.5% in the second quarter. Shinko Asset Management Co. Ltd. now owns 36,276 shares of the software company’s stock valued at $1,965,000 after buying an additional 35,897 shares in the last quarter. 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 valued at $128,000 after buying an additional 123 shares in the last quarter. Finally, IBM Retirement Fund increased its stake in shares of Splunk by 5.1% in the second quarter. IBM Retirement Fund now owns 13,233 shares of the software company’s stock valued at $717,000 after buying an additional 642 shares in the last quarter. Institutional investors and hedge funds own 98.58% of the company’s stock.

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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