Splunk’s (SPLK) Neutral Rating Reiterated at Mizuho
Several other equities research analysts have also recently issued reports on SPLK. BTIG Research started coverage on shares of Splunk in a research report on Monday, April 17th. They set a buy rating and a $80.00 price objective for the company. Royal Bank Of Canada restated a buy rating on shares of Splunk in a research report on Friday, April 21st. Zacks Investment Research cut shares of Splunk from a buy rating to a hold rating in a research report on Thursday, April 27th. Wedbush restated an outperform rating and set a $78.00 price objective on shares of Splunk in a research report on Monday, May 22nd. Finally, Robert W. Baird set a $71.00 price objective on shares of Splunk and gave the stock a buy rating in a research report on Saturday, May 27th. Twelve research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $70.77.
Shares of Splunk (NASDAQ SPLK) opened at 58.83 on Tuesday. The firm has a 50-day moving average of $59.29 and a 200 day moving average of $61.37. Splunk has a 52-week low of $50.64 and a 52-week high of $69.23. The stock’s market capitalization is $8.14 billion.
Splunk (NASDAQ:SPLK) last released its quarterly earnings data on Thursday, May 25th. The software company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. Splunk had a negative net margin of 35.19% and a negative return on equity of 40.82%. The firm had revenue of $242.40 million during the quarter, compared to analysts’ expectations of $233.79 million. During the same period last year, the business earned ($0.02) earnings per share. Splunk’s revenue was up 30.4% compared to the same quarter last year. Equities research analysts forecast that Splunk will post $0.52 EPS for the current fiscal year.
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In other news, Director Godfrey Sullivan sold 4,236 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $61.77, for a total transaction of $261,657.72. Following the completion of the sale, the director now owns 818,456 shares in the company, valued at approximately $50,556,027.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David F. Conte sold 1,044 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $62.20, for a total transaction of $64,936.80. Following the sale, the chief financial officer now owns 207,965 shares of the company’s stock, valued at approximately $12,935,423. The disclosure for this sale can be found here. Insiders have sold a total of 558,056 shares of company stock valued at $32,554,124 in the last 90 days. Insiders own 3.00% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. ProShare Advisors LLC acquired a new position in shares of Splunk during the first quarter worth approximately $200,000. NBW Capital LLC acquired a new position in shares of Splunk during the first quarter worth approximately $3,414,000. Mn Services Vermogensbeheer B.V. boosted its position in shares of Splunk by 5.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,588 shares of the software company’s stock worth $209,000 after buying an additional 191 shares during the last quarter. Nationwide Fund Advisors boosted 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 worth $9,960,000 after buying an additional 34,950 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its position in shares of Splunk by 129.5% in the first quarter. Candriam Luxembourg S.C.A. now owns 53,467 shares of the software company’s stock worth $3,331,000 after buying an additional 30,166 shares during the last quarter.
Splunk Company Profile
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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