Splunk Inc. (NASDAQ:SPLK)‘s stock had its “hold” rating reissued by research analysts at Needham & Company LLC in a report released on Wednesday.

SPLK has been the topic of several other reports. Summit Redstone reaffirmed a “buy” rating and issued a $72.00 price target on shares of Splunk in a research report on Tuesday, September 6th. MKM Partners reaffirmed a “neutral” rating on shares of Splunk in a research report on Friday, November 4th. Wedbush reaffirmed an “outperform” rating and issued a $72.00 price target on shares of Splunk in a research report on Friday, November 11th. DA Davidson reaffirmed a “buy” rating and issued a $83.00 price target on shares of Splunk in a research report on Wednesday, August 24th. Finally, Drexel Hamilton reaffirmed a “buy” rating and issued a $85.00 price target on shares of Splunk in a research report on Tuesday, August 23rd. Eleven research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Splunk has an average rating of “Buy” and an average price target of $67.28.

Analyst Recommendations for Splunk (NASDAQ:SPLK)

Splunk (NASDAQ:SPLK) traded up 2.04% during trading on Wednesday, hitting $58.55. The stock had a trading volume of 6,376,636 shares. The company’s market cap is $7.88 billion. Splunk has a 52 week low of $29.85 and a 52 week high of $65.75. The stock has a 50-day moving average price of $59.05 and a 200-day moving average price of $58.63.

Splunk (NASDAQ:SPLK) last posted its earnings results on Tuesday, November 29th. The software company reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.04. The firm had revenue of $245 million for the quarter. Splunk had a negative net margin of 42.84% and a negative return on equity of 38.45%. The company’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.05 earnings per share. Equities analysts predict that Splunk will post $0.29 EPS for the current year.

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In related news, insider Douglas Merritt sold 6,155 shares of the company’s 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 transaction, the insider now owns 164,117 shares in the company, valued at approximately $9,535,197.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Godfrey Sullivan sold 40,000 shares of the company’s stock in a transaction dated Wednesday, October 12th. The shares were sold at an average price of $57.66, for a total transaction of $2,306,400.00. Following the completion of the transaction, the director now owns 311,676 shares in the company, valued at approximately $17,971,238.16. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Eagle Asset Management Inc. raised its position in shares of Splunk by 0.5% in the second quarter. Eagle Asset Management Inc. now owns 312,171 shares of the software company’s stock worth $16,913,000 after buying an additional 1,563 shares during the period. GAM Holding AG increased its stake in Splunk by 4.4% in the third quarter. GAM Holding AG now owns 102,333 shares of the software company’s stock worth $6,005,000 after buying an additional 4,277 shares in the last quarter. RS Investment Management Co. LLC increased its stake in Splunk by 35.5% in the second quarter. RS Investment Management Co. LLC now owns 49,280 shares of the software company’s stock worth $2,670,000 after buying an additional 12,900 shares in the last quarter. CG Asset Management LLC acquired a new stake in Splunk during the second quarter worth about $2,131,000. Finally, Pitcairn Co. increased its stake in Splunk by 15.0% in the second quarter. Pitcairn Co. now owns 9,822 shares of the software company’s stock worth $532,000 after buying an additional 1,278 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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