Splunk Inc. (SPLK) PT Raised to $80.00
Splunk Inc. (NASDAQ:SPLK) had its price target hoisted by Barclays PLC from $73.00 to $80.00 in a note issued to investors on Friday. The firm currently has an “equal weight” rating on the software company’s stock. Barclays PLC’s price objective points to a potential downside of 2.08% from the company’s current price.
A number of other brokerages also recently weighed in on SPLK. Bank of America Corporation boosted their target price on shares of Splunk from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Friday. Drexel Hamilton restated a “buy” rating and set a $93.00 target price on shares of Splunk in a report on Thursday. Jefferies Group LLC restated a “buy” rating and set a $88.00 target price on shares of Splunk in a report on Friday. Wells Fargo & Company restated a “buy” rating and set a $95.00 target price on shares of Splunk in a report on Friday. Finally, Mizuho upgraded shares of Splunk from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $60.00 to $90.00 in a report on Friday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and thirty have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $80.92.
Shares of Splunk (NASDAQ SPLK) traded up $12.40 on Friday, reaching $81.70. 13,198,619 shares of the company were exchanged, compared to its average volume of 1,541,233. Splunk has a fifty-two week low of $50.64 and a fifty-two week high of $81.99.
Splunk (NASDAQ:SPLK) last issued its earnings results on Thursday, November 16th. The software company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.42) by $0.59. The business had revenue of $328.65 million for the quarter, compared to the consensus estimate of $309.01 million. Splunk had a negative net margin of 32.72% and a negative return on equity of 71.89%. analysts anticipate that Splunk will post -1.43 EPS for the current year.
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In other news, Director Godfrey Sullivan sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $63.48, for a total value of $2,539,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David F. Conte sold 10,525 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $66.03, for a total value of $694,965.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 599,197 shares of company stock valued at $40,200,725. Insiders own 1.43% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Patten Group Inc. increased its stake in shares of Splunk by 1,048.8% in the third quarter. Patten Group Inc. now owns 24,746 shares of the software company’s stock valued at $143,000 after buying an additional 22,592 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its stake 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 valued at $195,000 after buying an additional 656 shares during the period. IFP Advisors Inc increased its stake in shares of Splunk by 6.2% in the second quarter. IFP Advisors Inc now owns 3,508 shares of the software company’s stock valued at $200,000 after buying an additional 204 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of Splunk in the third quarter valued at approximately $201,000. Finally, FDx Advisors Inc. acquired a new position in shares of Splunk in the third quarter valued at approximately $210,000.
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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