Splunk Inc. (NASDAQ:SPLK) had its price objective lifted by equities research analysts at Stifel Nicolaus from $61.00 to $75.00 in a research note issued on Friday. The brokerage currently has a “hold” rating on the software company’s stock. Stifel Nicolaus’ target price indicates a potential downside of 8.20% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Mizuho reiterated a “neutral” rating and issued a $60.00 price target on shares of Splunk in a report on Tuesday, August 15th. ValuEngine upgraded shares of Splunk from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Needham & Company LLC initiated coverage on shares of Splunk in a report on Monday, October 23rd. They issued a “buy” rating and a $95.00 price target on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $77.00 price target (up previously from $74.00) on shares of Splunk in a report on Friday, August 25th. Finally, Zacks Investment Research lowered shares of Splunk from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and thirty have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $80.92.

Shares of Splunk (SPLK) opened at $81.70 on Friday. Splunk has a 1 year low of $50.64 and a 1 year high of $81.99.

Splunk (NASDAQ:SPLK) last announced its earnings results on Thursday, November 16th. The software company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.42) by $0.59. Splunk had a negative net margin of 32.72% and a negative return on equity of 71.89%. The firm had revenue of $328.65 million for the quarter, compared to analyst estimates of $309.01 million. equities research analysts predict that Splunk will post -1.43 earnings per share for the current year.

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In other news, CFO David F. Conte sold 10,525 shares of Splunk stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $66.03, for a total value of $694,965.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Godfrey Sullivan sold 120,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $68.22, for a total transaction of $8,186,400.00. Following the transaction, the director now directly owns 585,790 shares of the company’s stock, valued at $39,962,593.80. The disclosure for this sale can be found here. Insiders sold a total of 599,197 shares of company stock valued at $40,200,725 over the last ninety days. Company insiders own 1.43% of the company’s stock.

A number of institutional investors have recently bought and sold shares of SPLK. Carmignac Gestion acquired a new position in Splunk during the 3rd quarter valued at about $198,193,000. Bank of New York Mellon Corp boosted its stake in Splunk by 40.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,942,003 shares of the software company’s stock valued at $224,259,000 after purchasing an additional 1,128,410 shares during the period. Harbour Capital Advisors LLC boosted its stake in Splunk by 6,237.5% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,061,852 shares of the software company’s stock valued at $18,665,000 after purchasing an additional 1,045,097 shares during the period. ETF Managers Group LLC acquired a new position in Splunk during the 2nd quarter valued at about $39,864,000. Finally, Vanguard Group Inc. boosted its stake in Splunk by 5.1% during the 2nd quarter. Vanguard Group Inc. now owns 11,347,936 shares of the software company’s stock valued at $645,584,000 after purchasing an additional 546,338 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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