Splunk Inc. (NASDAQ:SPLK)‘s stock had its “overweight” rating reiterated by investment analysts at Pacific Crest in a report released on Wednesday.

Several other research firms have also recently commented on SPLK. Robert W. Baird raised their target price on Splunk from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, August 26th. Stifel Nicolaus cut Splunk from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. They noted that the move was a valuation call. Canaccord Genuity restated a “buy” rating and issued a $75.00 target price (up from $65.00) on shares of Splunk in a research report on Friday, August 26th. Barclays PLC raised their target price on Splunk from $51.00 to $56.00 and gave the company an “equal weight” rating in a research report on Friday, August 26th. Finally, Citigroup Inc. raised their target price on Splunk from $62.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, August 26th. Ten analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. Splunk presently has a consensus rating of “Buy” and a consensus price target of $66.88.

Analyst Recommendations for Splunk (NASDAQ:SPLK)

Splunk (NASDAQ:SPLK) opened at 57.38 on Wednesday. The company has a 50-day moving average price of $59.05 and a 200 day moving average price of $58.63. The firm’s market capitalization is $7.72 billion. Splunk has a 1-year low of $29.85 and a 1-year high of $65.75.

Splunk (NASDAQ:SPLK) last posted its earnings results on Tuesday, November 29th. The software company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.08 by $0.04. Splunk had a negative return on equity of 38.45% and a negative net margin of 42.84%. The firm had revenue of $245 million for the quarter, compared to analysts’ expectations of $230.36 million. During the same period last year, the firm earned $0.05 EPS. The firm’s revenue was up 40.3% compared to the same quarter last year. Equities analysts anticipate that Splunk will post $0.29 earnings per share for the current year.

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In other Splunk news, Director Godfrey Sullivan sold 128,750 shares of Splunk stock in a transaction that occurred on 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 sale, the director now directly owns 440,426 shares of the company’s stock, valued at $25,954,304.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Leonard R. Stein sold 3,435 shares of Splunk stock in a transaction that occurred on 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 $6,827,865.68. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Winslow Capital Management LLC increased its stake 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. Price T Rowe Associates Inc. MD increased its position in shares of Splunk by 37.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 5,247,157 shares of the software company’s stock valued at $307,903,000 after buying an additional 1,427,346 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Splunk by 31.7% in the second quarter. JPMorgan Chase & Co. now owns 4,642,643 shares of the software company’s stock valued at $251,538,000 after buying an additional 1,118,339 shares during the last quarter. Fiera Capital Corp acquired a new position in shares of Splunk during the second quarter valued at approximately $46,849,000. Finally, Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Splunk by 516.0% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 968,979 shares of the software company’s stock valued at $56,859,000 after buying an additional 811,681 shares during the last quarter. 98.58% of the stock is currently owned by institutional investors.

About Splunk

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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