Splunk (NASDAQ:SPLK) had its target price boosted by equities researchers at Morgan Stanley from $121.00 to $140.00 in a report released on Tuesday. The firm presently has an “equal weight” rating on the software company’s stock. Morgan Stanley’s price target points to a potential upside of 7.70% from the stock’s previous close.

A number of other equities analysts have also issued reports on SPLK. Piper Jaffray Companies dropped their target price on shares of Splunk to $120.00 and set an “overweight” rating on the stock in a research report on Monday, November 26th. BidaskClub raised shares of Splunk from a “hold” rating to a “buy” rating in a research report on Tuesday, November 27th. Wedbush dropped their target price on shares of Splunk from $136.00 to $130.00 and set an “outperform” rating on the stock in a research report on Friday, November 30th. Bank of America reaffirmed a “buy” rating and set a $143.00 target price (up previously from $140.00) on shares of Splunk in a research report on Friday, November 30th. Finally, BMO Capital Markets dropped their target price on shares of Splunk from $133.00 to $132.00 and set an “outperform” rating on the stock in a research report on Friday, November 30th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $142.56.

Shares of SPLK stock opened at $129.99 on Tuesday. Splunk has a 1 year low of $83.69 and a 1 year high of $143.70. The firm has a market cap of $19.00 billion, a P/E ratio of -81.75 and a beta of 2.05. The company has a debt-to-equity ratio of 1.14, a quick ratio of 3.84 and a current ratio of 3.84.

In other Splunk news, CFO David F. Conte sold 7,820 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $128.05, for a total value of $1,001,351.00. Following the sale, the chief financial officer now owns 116,056 shares of the company’s stock, valued at approximately $14,860,970.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark T. Carges sold 2,105 shares of the business’s stock in a transaction on Monday, January 7th. The shares were sold at an average price of $110.00, for a total transaction of $231,550.00. Following the completion of the sale, the director now directly owns 13,168 shares in the company, valued at approximately $1,448,480. The disclosure for this sale can be found here. Insiders sold a total of 68,193 shares of company stock worth $8,477,525 in the last three months. Insiders own 0.36% of the company’s stock.

Large investors have recently modified their holdings of the company. Berman Capital Advisors LLC acquired a new stake in shares of Splunk in the 4th quarter valued at $29,000. Bessemer Group Inc. boosted its stake in shares of Splunk by 192.2% in the 4th quarter. Bessemer Group Inc. now owns 301 shares of the software company’s stock valued at $32,000 after purchasing an additional 198 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of Splunk by 244.4% in the 4th quarter. Captrust Financial Advisors now owns 427 shares of the software company’s stock valued at $45,000 after purchasing an additional 303 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of Splunk in the 4th quarter valued at $56,000. Finally, Pinnacle Bank acquired a new stake in shares of Splunk in the 4th quarter valued at $65,000. Institutional investors own 93.78% of the company’s stock.

About Splunk

Splunk Inc provides software solutions that enable organizations to gain real-time operational intelligence in the United States and internationally. Its products enable users to collect, index, search, explore, monitor, correlate, and analyze data regardless of format or source. The company offers Splunk Enterprise, a machine data platform with collection, indexing, search, reporting, analysis, alerting, monitoring, and data management capabilities; and Splunk Cloud.

Featured Article: What is a back-end load?

Analyst Recommendations for Splunk (NASDAQ:SPLK)

Receive News & Ratings for Splunk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Splunk and related companies with MarketBeat.com's FREE daily email newsletter.