Splunk (NASDAQ:SPLK) had its price target raised by Deutsche Bank to $100.00 in a report published on Monday. The brokerage currently has a buy rating on the software company’s stock.

Several other analysts also recently issued reports on SPLK. Drexel Hamilton restated a buy rating and set a $93.00 price objective on shares of Splunk in a report on Monday, September 18th. BMO Capital Markets restated a buy rating and set a $71.00 price objective on shares of Splunk in a report on Wednesday, September 27th. Cowen restated a buy rating and set a $72.00 price objective on shares of Splunk in a report on Thursday, September 28th. Morgan Stanley downgraded Splunk from an overweight rating to an equal weight rating and set a $77.00 price objective on the stock. in a report on Monday, October 2nd. Finally, Robert W. Baird set a $75.00 price objective on Splunk and gave the stock a buy rating in a report on Sunday, October 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-nine have issued a buy rating to the company. The company presently has an average rating of Buy and an average target price of $84.06.

Shares of Splunk (NASDAQ:SPLK) traded down $2.51 during midday trading on Monday, reaching $87.13. 1,420,709 shares of the company’s stock were exchanged, compared to its average volume of 1,529,751. Splunk has a 52 week low of $52.89 and a 52 week high of $90.92. The firm has a market cap of $12,330.00, a P/E ratio of -39.07 and a beta of 2.07.

Splunk (NASDAQ:SPLK) last issued its quarterly 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 net margin of 32.72% and a negative return on equity of 72.06%. The company had revenue of $328.65 million during the quarter, compared to the consensus estimate of $309.01 million. equities analysts anticipate that Splunk will post -1.3 EPS for the current fiscal year.

In related news, Director Godfrey Sullivan sold 120,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $68.22, for a total value of $8,186,400.00. Following the completion of the sale, the director now owns 585,790 shares of the company’s stock, valued at approximately $39,962,593.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Ledger Susan St. sold 10,316 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $70.17, for a total value of $723,873.72. Following the completion of the sale, the insider now directly owns 253,102 shares of the company’s stock, valued at approximately $17,760,167.34. The disclosure for this sale can be found here. Insiders sold a total of 201,036 shares of company stock worth $14,132,192 in the last quarter. 1.43% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Prudential Financial Inc. grew its stake in shares of Splunk by 2.9% in the 2nd quarter. Prudential Financial Inc. now owns 7,140 shares of the software company’s stock valued at $406,000 after buying an additional 200 shares in the last quarter. Salem Investment Counselors Inc. boosted its position in Splunk by 5.2% during the second quarter. Salem Investment Counselors Inc. now owns 6,465 shares of the software company’s stock worth $368,000 after purchasing an additional 320 shares during the period. The Manufacturers Life Insurance Company boosted its position in Splunk by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 4,950 shares of the software company’s stock worth $282,000 after purchasing an additional 389 shares during the period. Voya Investment Management LLC boosted its position in Splunk by 0.8% during the second quarter. Voya Investment Management LLC now owns 53,078 shares of the software company’s stock worth $3,020,000 after purchasing an additional 436 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its position in 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 purchasing an additional 656 shares during the period.

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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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