Splunk (NASDAQ:SPLK)‘s stock had its “buy” rating restated by research analysts at Drexel Hamilton in a note issued to investors on Thursday, November 16th. They presently have a $93.00 price objective on the software company’s stock. Drexel Hamilton’s price objective points to a potential upside of 16.69% from the stock’s current price.
Other equities research analysts have also issued reports about the company. Jefferies Group reaffirmed a “buy” rating and issued a $81.00 price objective on shares of Splunk in a research note on Thursday, August 24th. Canaccord Genuity reiterated a “buy” rating and issued a $80.00 price target (up from $75.00) on shares of Splunk in a report on Tuesday, August 22nd. Guggenheim reiterated a “buy” rating and issued a $70.00 price target on shares of Splunk in a report on Saturday, August 19th. Cowen reiterated a “buy” rating on shares of Splunk in a report on Friday, August 18th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $75.00 price target on shares of Splunk in a report on Monday, July 31st. One analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-eight have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $82.74.
Splunk (NASDAQ SPLK) opened at $79.70 on Thursday. Splunk has a one year low of $50.64 and a one year high of $84.88.
Splunk (NASDAQ:SPLK) last announced its quarterly earnings results on Thursday, November 16th. The software company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.59. The company had revenue of $328.65 million during the quarter, compared to analyst estimates of $309.01 million. Splunk had a negative return on equity of 71.89% and a negative net margin of 32.72%. sell-side analysts predict that Splunk will post -1.3 EPS for the current fiscal year.
In other Splunk news, CFO David F. Conte sold 21,589 shares of Splunk stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $68.99, for a total transaction of $1,489,425.11. Following the completion of the sale, the chief financial officer now owns 161,022 shares of the company’s stock, valued at approximately $11,108,907.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ledger Susan St. sold 10,316 shares of Splunk stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $70.17, for a total value of $723,873.72. Following 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. In the last ninety days, insiders have sold 588,672 shares of company stock valued at $39,505,760. 1.43% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPLK. Patten Group Inc. raised its stake in shares of Splunk by 1,048.8% during the 3rd quarter. Patten Group Inc. now owns 24,746 shares of the software company’s stock valued at $143,000 after buying an additional 22,592 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Splunk by 24.1% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,375 shares of the software company’s stock valued at $195,000 after purchasing an additional 656 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Splunk by 6.2% in the 2nd quarter. IFP Advisors Inc now owns 3,508 shares of the software company’s stock valued at $200,000 after purchasing an additional 204 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of Splunk in the 3rd quarter valued at about $201,000. Finally, FDx Advisors Inc. purchased a new position in shares of Splunk in the 3rd quarter valued at about $210,000.
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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.
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