Splunk’s (SPLK) “Buy” Rating Reaffirmed at Oppenheimer Holdings, Inc.
Oppenheimer Holdings, Inc. reaffirmed their buy rating on shares of Splunk Inc. (NASDAQ:SPLK) in a research report report published on Friday. They currently have a $80.00 price target on the software company’s stock.
Other equities analysts have also issued reports about the stock. Zacks Investment Research raised shares of Splunk from a sell rating to a hold rating in a research report on Wednesday, August 16th. Cowen and Company reaffirmed a buy rating on shares of Splunk in a research report on Friday, August 18th. MKM Partners reaffirmed a neutral rating and issued a $63.00 price objective (up from $60.00) on shares of Splunk in a research report on Tuesday, May 30th. Stifel Nicolaus reaffirmed a hold rating and issued a $61.00 price objective on shares of Splunk in a research report on Sunday, May 28th. Finally, Guggenheim raised shares of Splunk from a neutral rating to a buy rating and increased their price objective for the company from $69.00 to $70.00 in a research report on Thursday, June 22nd. Eleven research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $72.53.
Shares of Splunk (SPLK) opened at 64.48 on Friday. The stock’s 50 day moving average is $59.92 and its 200 day moving average is $61.47. The company’s market capitalization is $8.97 billion. Splunk has a 52-week low of $50.64 and a 52-week high of $69.23.
Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Thursday, August 24th. The software company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.02. The firm 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% on a year-over-year basis. During the same period last year, the firm posted $0.05 EPS. Equities analysts expect that Splunk will post $0.54 EPS for the current year.
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In other Splunk news, SVP Leonard R. Stein sold 4,851 shares of the firm’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $58.20, for a total value of $282,328.20. Following the transaction, the senior vice president now owns 103,909 shares in the company, valued at approximately $6,047,503.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Godfrey Sullivan sold 48,750 shares of the firm’s 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 completion of the transaction, the director now owns 843,290 shares in the company, valued at approximately $48,016,932.60. The disclosure for this sale can be found here. Insiders have sold a total of 558,056 shares of company stock worth $32,554,124 in the last quarter. Insiders own 3.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in SPLK. TLP Group LLC purchased a new position in shares of Splunk during the first quarter worth $102,000. Patten Group Inc. raised its position in shares of Splunk by 3.6% in the first quarter. Patten Group Inc. now owns 2,154 shares of the software company’s stock worth $131,000 after buying an additional 75 shares during the last quarter. Acrospire Investment Management LLC raised its position in shares of Splunk by 79.9% in the first quarter. Acrospire Investment Management LLC now owns 2,701 shares of the software company’s stock worth $168,000 after buying an additional 1,200 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of 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 last quarter. Finally, ProShare Advisors LLC purchased a new position in shares of Splunk during the first quarter worth $200,000.
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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