Splunk Inc. (NASDAQ:SPLK) had its target price increased by Barclays PLC from $65.00 to $67.00 in a research report released on Friday morning. The brokerage currently has an equal weight rating on the software company’s stock.

Other research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Splunk from a sell rating to a hold rating in a research note on Wednesday, August 16th. Cowen and Company reaffirmed a buy rating on shares of Splunk in a research note on Friday, August 18th. MKM Partners reaffirmed a neutral rating and set a $63.00 target price (up previously from $60.00) on shares of Splunk in a research note on Tuesday, May 30th. Stifel Nicolaus reaffirmed a hold rating and set a $61.00 target price on shares of Splunk in a research note on Sunday, May 28th. Finally, Guggenheim raised shares of Splunk from a neutral rating to a buy rating and increased their target price for the stock from $69.00 to $70.00 in a research note on Thursday, June 22nd. Eleven research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $72.38.

Splunk (SPLK) opened at 65.39 on Friday. Splunk has a 52 week low of $50.64 and a 52 week high of $69.23. The company’s market capitalization is $9.09 billion. The stock’s 50 day moving average is $59.92 and its 200 day moving average is $61.47.

Splunk (NASDAQ:SPLK) last announced its earnings results on Thursday, August 24th. The software company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.02. The company had revenue of $279.96 million during the quarter, compared to analyst estimates of $268.72 million. Splunk had a negative net margin of 36.81% and a negative return on equity of 75.18%. Splunk’s revenue was up 31.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.05 earnings per share. On average, equities research analysts expect that Splunk will post $0.52 earnings per share for the current year.

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In other news, Director Godfrey Sullivan sold 48,750 shares of Splunk stock in a transaction on Monday, June 12th. The shares were sold at an average price of $56.94, for a total value of $2,775,825.00. Following the transaction, the director now directly owns 843,290 shares of the company’s stock, valued at approximately $48,016,932.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas Merritt sold 10,125 shares of Splunk stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $58.01, for a total transaction of $587,351.25. Following the completion of the transaction, the insider now directly owns 231,440 shares in the company, valued at $13,425,834.40. The disclosure for this sale can be found here. Insiders sold a total of 558,056 shares of company stock worth $32,554,124 over the last ninety days. Corporate insiders own 3.00% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio raised its position in Splunk by 7.5% in the second quarter. Public Employees Retirement System of Ohio now owns 49,910 shares of the software company’s stock worth $2,839,000 after buying an additional 3,483 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in Splunk by 39.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 32,533 shares of the software company’s stock worth $1,851,000 after buying an additional 9,165 shares during the period. The Manufacturers Life Insurance Company raised its position in Splunk by 8.5% in the second quarter. The Manufacturers Life Insurance Company now owns 4,950 shares of the software company’s stock worth $282,000 after buying an additional 389 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its position in Splunk by 24.1% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,375 shares of the software company’s stock worth $195,000 after buying an additional 656 shares during the period. Finally, Cubist Systematic Strategies LLC raised its position in Splunk by 38.9% in the second quarter. Cubist Systematic Strategies LLC now owns 9,924 shares of the software company’s stock worth $565,000 after buying an additional 2,778 shares during the period.

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.

Analyst Recommendations for Splunk (NASDAQ:SPLK)

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