Splunk Inc. (SPLK) Stock Rating Reaffirmed by Wedbush
Splunk Inc. (NASDAQ:SPLK)‘s stock had its “buy” rating reaffirmed by equities researchers at Wedbush in a report released on Wednesday.
A number of other equities analysts have also recently commented on SPLK. Morgan Stanley increased their target price on Splunk from $58.00 to $74.00 and gave the company an “overweight” rating in a report on Monday, August 8th. Royal Bank Of Canada increased their target price on Splunk from $60.00 to $70.00 and gave the company an “outperform” rating in a report on Friday, August 19th. RBC Capital Markets reaffirmed a “buy” rating and issued a $70.00 price target (up previously from $60.00) on shares of Splunk in a report on Friday, August 19th. Drexel Hamilton reaffirmed a “buy” rating and issued a $85.00 price target on shares of Splunk in a report on Tuesday, August 23rd. Finally, DA Davidson reaffirmed a “buy” rating and issued a $83.00 price target on shares of Splunk in a report on Wednesday, August 24th. Eleven investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $66.97.
Splunk (NASDAQ:SPLK) opened at 57.38 on Wednesday. Splunk has a 12-month low of $29.85 and a 12-month high of $65.75. The stock’s market cap is $7.72 billion. The company’s 50-day moving average price is $59.05 and its 200-day moving average price is $58.63.
Splunk (NASDAQ:SPLK) last announced its earnings results on Tuesday, November 29th. The software company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates 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 business earned $245 million during the quarter. During the same period in the previous year, the company earned $0.05 EPS. Splunk’s revenue was up 40.3% compared to the same quarter last year. On average, equities analysts expect that Splunk will post $0.29 EPS for the current fiscal year.
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In other Splunk news, Director Godfrey Sullivan sold 128,750 shares of the business’s stock in a transaction 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 in the company, valued at $25,954,304.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Leonard R. Stein sold 3,435 shares of the business’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $58.64, for a total value of $201,428.40. Following the sale, the senior vice president now owns 116,437 shares in the company, valued at $6,827,865.68. The disclosure for this sale can be found here. 3.00% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the company. ETRADE Capital Management LLC increased its stake in Splunk by 25.3% in the third quarter. ETRADE Capital Management LLC now owns 5,614 shares of the software company’s stock worth $329,000 after buying an additional 1,132 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in 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 worth $307,903,000 after buying an additional 1,427,346 shares during the last quarter. Credit Suisse AG increased its stake in Splunk by 3.0% in the third quarter. Credit Suisse AG now owns 388,573 shares of the software company’s stock worth $22,802,000 after buying an additional 11,237 shares during the last quarter. Salem Investment Counselors Inc. purchased a new stake in Splunk during the third quarter worth approximately $210,000. Finally, Pioneer Investment Management Inc. purchased a new stake in Splunk during the third quarter worth approximately $5,602,000. Institutional investors 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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