BidaskClub upgraded shares of Splunk (NASDAQ:SPLK) from a hold rating to a buy rating in a research note published on Wednesday.

A number of other analysts have also recently commented on the stock. Zacks Investment Research raised shares of Splunk from a hold rating to a buy rating and set a $100.00 target price for the company in a report on Friday, January 19th. Deutsche Bank upped their target price on shares of Splunk to $100.00 and gave the company a buy rating in a report on Monday, January 15th. Barclays raised shares of Splunk from an equal weight rating to an overweight rating and upped their target price for the company from $80.00 to $105.00 in a report on Monday, January 8th. Robert W. Baird upped their target price on shares of Splunk from $85.00 to $90.00 and gave the company an outperform rating in a report on Monday, December 18th. Finally, Citigroup reaffirmed a hold rating and set a $73.00 target price on shares of Splunk in a report on Monday, November 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirty-one have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $84.29.

Splunk (SPLK) opened at $86.83 on Wednesday. Splunk has a twelve month low of $54.17 and a twelve month high of $93.68. The firm has a market cap of $12,410.00, a P/E ratio of -38.94 and a beta of 2.04.

Splunk (NASDAQ:SPLK) last announced its earnings results on Thursday, November 16th. The software company reported $0.17 EPS 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 business had revenue of $328.65 million during the quarter, compared to analysts’ expectations of $309.01 million. analysts anticipate that Splunk will post -1.3 EPS for the current fiscal year.

In related news, SVP Leonard R. Stein sold 4,851 shares of the company’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $80.54, for a total transaction of $390,699.54. Following the completion of the transaction, the senior vice president now owns 89,157 shares in the company, valued at $7,180,704.78. 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 Monday, November 13th. The stock was sold at an average price of $68.62, for a total transaction of $2,744,800.00. Following the transaction, the director now owns 585,790 shares of the company’s stock, valued at approximately $40,196,909.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 190,720 shares of company stock valued at $13,408,318. Corporate insiders own 1.43% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Prudential Financial Inc. boosted its position in shares of Splunk by 2.9% during the second quarter. Prudential Financial Inc. now owns 7,140 shares of the software company’s stock worth $406,000 after acquiring an additional 200 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of 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 acquiring an additional 389 shares during the last quarter. Voya Investment Management LLC boosted its position in shares of 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 acquiring an additional 436 shares during the last quarter. Penserra Capital Management LLC boosted its position in shares of Splunk by 18.6% during the fourth quarter. Penserra Capital Management LLC now owns 4,060 shares of the software company’s stock worth $336,000 after acquiring an additional 638 shares during the last quarter. Finally, 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.

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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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