Splunk Inc (SPLK) Receives Equal Weight Rating from Barclays PLC
Barclays PLC restated their equal weight rating on shares of Splunk Inc (NASDAQ:SPLK) in a research report released on Sunday morning. Barclays PLC currently has a $65.00 price objective on the software company’s stock, up from their previous price objective of $63.00.
Other equities research analysts also recently issued research reports about the stock. Canaccord Genuity restated a buy rating and issued a $70.00 target price on shares of Splunk in a research note on Wednesday, February 22nd. Drexel Hamilton reaffirmed a buy rating and issued a $90.00 price target on shares of Splunk in a report on Tuesday, February 21st. Mitsubishi UFJ Financial Group set a $71.00 price target on Splunk and gave the company a buy rating in a report on Saturday, February 25th. Jefferies Group LLC reaffirmed a buy rating and issued a $81.00 price target on shares of Splunk in a report on Friday, February 24th. Finally, Zacks Investment Research raised Splunk from a hold rating to a buy rating and set a $70.00 price target for the company in a report on Saturday, March 4th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $71.89.
Splunk (NASDAQ:SPLK) traded down 6.98% during mid-day trading on Friday, hitting $62.41. 10,078,893 shares of the company were exchanged. Splunk has a 12-month low of $50.60 and a 12-month high of $69.23. The stock’s 50 day moving average is $64.50 and its 200-day moving average is $60.14. The company’s market cap is $8.60 billion.
Splunk (NASDAQ:SPLK) last issued its earnings results on Thursday, May 25th. The software company reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. Splunk had a negative net margin of 41.72% and a negative return on equity of 41.28%. The company had revenue of $242.40 million for the quarter, compared to the consensus estimate of $233.79 million. During the same quarter in the previous year, the company earned ($0.02) EPS. The firm’s revenue for the quarter was up 30.4% compared to the same quarter last year. Equities research analysts predict that Splunk will post $0.60 EPS for the current year.
In other news, insider Douglas Merritt sold 14,097 shares of the business’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $60.78, for a total transaction of $856,815.66. Following the completion of the transaction, the insider now directly owns 180,075 shares in the company, valued at approximately $10,944,958.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John G. Connors sold 50,000 shares of the business’s stock in a transaction dated Thursday, March 30th. The stock was sold at an average price of $62.87, for a total value of $3,143,500.00. Following the transaction, the director now owns 106,470 shares of the company’s stock, valued at $6,693,768.90. The disclosure for this sale can be found here. Insiders have sold a total of 219,255 shares of company stock valued at $13,453,887 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Motley Fool Wealth Management LLC raised its position in shares of Splunk by 161.9% in the fourth quarter. Motley Fool Wealth Management LLC now owns 218,542 shares of the software company’s stock valued at $11,178,000 after buying an additional 135,111 shares in the last quarter. Comerica Bank acquired a new position in shares of Splunk during the fourth quarter valued at about $354,000. Motley Fool Asset Management LLC raised its position in shares of Splunk by 500.0% in the third quarter. Motley Fool Asset Management LLC now owns 30,000 shares of the software company’s stock valued at $1,760,000 after buying an additional 25,000 shares in the last quarter. Diversified Trust Co acquired a new position in shares of Splunk during the first quarter valued at about $212,000. Finally, Nationwide Fund Advisors raised its position in shares of Splunk by 28.0% in the first quarter. Nationwide Fund Advisors now owns 159,900 shares of the software company’s stock valued at $9,960,000 after buying an additional 34,950 shares in the last quarter. Institutional investors and hedge funds own 97.80% of the company’s stock.
Splunk Inc (Splunk) is engaged in the development and marketing of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. Its offerings address diverse data sets that are referred to as big data and are specifically used for machine data.
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