Splunk’s (SPLK) “Neutral” Rating Reiterated at Wedbush
Several other research firms have also commented on SPLK. Drexel Hamilton reissued a buy rating and set a $93.00 price objective on shares of Splunk in a research note on Thursday, November 16th. UBS AG set a $80.00 price objective on shares of Splunk and gave the stock a buy rating in a research note on Friday. Canaccord Genuity reissued a buy rating and set a $90.00 price objective (up previously from $80.00) on shares of Splunk in a research note on Friday. BMO Capital Markets boosted their price objective on shares of Splunk from $71.00 to $83.00 and gave the stock an outperform rating in a research note on Friday. Finally, Wells Fargo & Company reissued a buy rating and set a $95.00 price objective on shares of Splunk in a research note on Friday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-nine have issued a buy rating to the stock. The stock has an average rating of Buy and an average price target of $81.61.
Shares of Splunk (SPLK) opened at $81.35 on Friday. Splunk has a 52 week low of $50.64 and a 52 week high of $81.99.
Splunk (NASDAQ:SPLK) last posted its quarterly earnings data on Thursday, November 16th. The software company reported $0.17 EPS for the quarter, topping the 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 business had revenue of $328.65 million for the quarter, compared to analyst estimates of $309.01 million. sell-side analysts anticipate that Splunk will post -1.43 earnings per share for the current year.
In related news, CFO David F. Conte sold 21,589 shares of the company’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $68.99, for a total transaction of $1,489,425.11. Following the completion of the transaction, the chief financial officer now owns 161,022 shares in the company, valued at $11,108,907.78. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Godfrey Sullivan sold 40,000 shares of the company’s stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $63.48, for a total transaction of $2,539,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 599,197 shares of company stock valued at $40,200,725. 1.43% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of SPLK. Patten Group Inc. boosted its position in shares of Splunk by 1,048.8% during the third quarter. Patten Group Inc. now owns 24,746 shares of the software company’s stock worth $143,000 after acquiring an additional 22,592 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Splunk by 24.1% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,375 shares of the software company’s stock worth $195,000 after acquiring an additional 656 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Splunk by 6.2% during the second quarter. IFP Advisors Inc now owns 3,508 shares of the software company’s stock worth $200,000 after acquiring an additional 204 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in Splunk during the third quarter valued at $201,000. Finally, FDx Advisors Inc. bought a new position in Splunk during the third quarter valued at $210,000.
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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