Splunk Inc. (NASDAQ:SPLK) has been given an average rating of “Buy” by the forty brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and twenty-eight have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $73.27.

SPLK has been the topic of a number of recent analyst reports. Robert W. Baird reaffirmed an “outperform” rating and issued a $71.00 price objective on shares of Splunk in a research note on Monday, July 10th. BMO Capital Markets reaffirmed a “buy” rating and issued a $71.00 price objective on shares of Splunk in a research note on Wednesday, July 12th. Zacks Investment Research raised Splunk from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Wednesday, July 12th. Drexel Hamilton reissued a “buy” rating and issued a $93.00 price target on shares of Splunk in a research note on Thursday, July 13th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $75.00 price target on shares of Splunk in a research note on Monday, July 31st.

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In other news, Director Godfrey Sullivan sold 40,000 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $58.84, for a total transaction of $2,353,600.00. Following the transaction, the director now owns 744,540 shares of the company’s stock, valued at approximately $43,808,733.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Ledger Susan St. sold 677 shares of the company’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $69.52, for a total value of $47,065.04. Following the transaction, the senior vice president now directly owns 168,376 shares in the company, valued at approximately $11,705,499.52. The disclosure for this sale can be found here. Insiders have sold a total of 628,881 shares of company stock worth $40,315,252 in the last ninety days. Insiders own 1.43% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA lifted its holdings in Splunk by 99.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 27,726 shares of the software company’s stock worth $1,577,000 after purchasing an additional 13,849 shares in the last quarter. Harbour Capital Advisors LLC purchased a new stake in Splunk during the 1st quarter worth about $1,044,000. Advisors Asset Management Inc. lifted its holdings in Splunk by 7.3% during the 2nd quarter. Advisors Asset Management Inc. now owns 15,167 shares of the software company’s stock worth $863,000 after purchasing an additional 1,032 shares in the last quarter. Swiss National Bank lifted its holdings in Splunk by 3.8% during the 2nd quarter. Swiss National Bank now owns 494,700 shares of the software company’s stock worth $28,143,000 after purchasing an additional 17,900 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in Splunk by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 547,738 shares of the software company’s stock worth $31,160,000 after purchasing an additional 6,713 shares in the last quarter.

Splunk (NASDAQ:SPLK) traded up 0.80% on Thursday, reaching $64.09. 830,496 shares of the company’s stock were exchanged. The company’s market cap is $8.97 billion. The stock’s 50 day moving average is $66.47 and its 200 day moving average is $62.66. Splunk has a 52 week low of $50.64 and a 52 week high of $69.61.

Splunk (NASDAQ:SPLK) last posted its quarterly earnings data on Thursday, August 24th. The software company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.02. The company had revenue of $279.96 million for the quarter, compared to analyst estimates of $268.72 million. Splunk had a negative return on equity of 75.81% and a negative net margin of 36.81%. The firm’s quarterly revenue was up 31.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.05 earnings per share. On average, equities analysts anticipate that Splunk will post $0.54 earnings per share for the current year.

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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