Splunk Inc. (NASDAQ:SPLK) had its price target increased by Bank of America Corporation from $80.00 to $95.00 in a research report sent to investors on Friday. Bank of America Corporation currently has a buy rating on the software company’s stock.

A number of other analysts have also weighed in on the company. KeyCorp restated a buy rating on shares of Splunk in a research note on Friday, October 27th. ValuEngine lowered Splunk from a hold rating to a sell rating in a research note on Wednesday, October 11th. Maxim Group reiterated a buy rating and issued a $79.00 price objective on shares of Splunk in a research report on Friday, October 27th. Needham & Company LLC initiated coverage on Splunk in a research report on Monday, October 23rd. They issued a buy rating and a $95.00 price objective for the company. Finally, Credit Suisse Group initiated coverage on Splunk in a research report on Tuesday, September 5th. They issued an outperform rating and a $80.00 price objective for the company. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-nine have given a buy rating to the company. Splunk has an average rating of Buy and a consensus target price of $81.61.

Shares of Splunk (SPLK) opened at $81.35 on Friday. Splunk has a 12 month low of $50.64 and a 12 month 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 for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.59. Splunk had a negative return on equity of 71.89% and a negative net margin of 32.72%. The company had revenue of $328.65 million during the quarter, compared to analyst estimates of $309.01 million. analysts forecast that Splunk will post -1.43 EPS for the current fiscal year.

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In other news, CFO David F. Conte sold 10,525 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $66.03, for a total transaction of $694,965.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Godfrey Sullivan sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $68.62, for a total value of $2,744,800.00. Following the sale, the director now owns 585,790 shares in the company, valued at approximately $40,196,909.80. The disclosure for this sale can be found here. Insiders sold a total of 599,197 shares of company stock worth $40,200,725 in the last 90 days. Company insiders own 1.43% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Carmignac Gestion acquired a new position in shares of Splunk during the 3rd quarter worth approximately $198,193,000. Bank of New York Mellon Corp increased its holdings in shares of 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 worth $224,259,000 after acquiring an additional 1,128,410 shares during the last quarter. Harbour Capital Advisors LLC increased its holdings in shares of 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 worth $18,665,000 after acquiring an additional 1,045,097 shares during the last quarter. ETF Managers Group LLC acquired a new position in shares of Splunk during the 2nd quarter worth approximately $39,864,000. Finally, Vanguard Group Inc. increased its holdings in shares of Splunk by 5.1% during the 2nd quarter. Vanguard Group Inc. now owns 11,347,936 shares of the software company’s stock worth $645,584,000 after acquiring an additional 546,338 shares during the last quarter.

About Splunk

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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