Splunk Inc. (SPLK) Given a $70.00 Price Target at JMP Securities
Splunk Inc. (NASDAQ:SPLK) has been assigned a $70.00 price objective by equities researchers at JMP Securities in a research report issued to clients and investors on Monday. The brokerage presently has a “buy” rating on the software company’s stock. JMP Securities’ price target suggests a potential upside of 20.01% from the stock’s current price.
Other equities analysts have also recently issued reports about the stock. Pacific Crest restated a “buy” rating and set a $70.00 price objective on shares of Splunk in a research report on Friday, August 26th. Canaccord Genuity restated a “buy” rating and set a $75.00 price objective (up from $65.00) on shares of Splunk in a research report on Friday, August 26th. RBC Capital Markets restated a “buy” rating and set a $70.00 price objective (up from $60.00) on shares of Splunk in a research report on Friday, August 19th. DA Davidson restated a “buy” rating and set a $83.00 price objective on shares of Splunk in a research report on Wednesday, August 24th. Finally, Drexel Hamilton reiterated a “buy” rating and issued a $85.00 target price on shares of Splunk in a research report on Tuesday, August 23rd. Ten analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $66.88.
Splunk (NASDAQ:SPLK) traded up 1.18% during midday trading on Monday, reaching $58.10. 1,931,518 shares of the company’s stock traded hands. Splunk has a 1-year low of $29.85 and a 1-year high of $65.75. The firm’s 50-day moving average is $59.05 and its 200-day moving average is $58.63. The company’s market capitalization is $7.82 billion.
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In related news, SVP Leonard R. Stein sold 3,435 shares of the business’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $58.64, for a total value of $201,428.40. Following the sale, the senior vice president now directly owns 116,437 shares in the company, valued at approximately $6,827,865.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Douglas Merritt sold 6,155 shares of the business’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $58.10, for a total transaction of $357,605.50. Following the completion of the sale, the insider now owns 164,117 shares in the company, valued at $9,535,197.70. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. LS Investment Advisors LLC raised its stake in 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. Advisor Group Inc. acquired a new stake in Splunk during the second quarter valued at approximately $157,000. Seven Eight Capital LLC acquired a new stake in Splunk during the second quarter valued at approximately $193,000. Mn Services Vermogensbeheer B.V. raised its stake in Splunk by 5.5% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 3,397 shares of the software company’s stock valued at $199,000 after buying an additional 177 shares in the last quarter. Finally, Shelton Capital Management acquired a new stake in Splunk during the second quarter valued at approximately $206,000. 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.
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