Piper Jaffray Companies reissued their buy rating on shares of Splunk (NASDAQ:SPLK) in a report issued on Wednesday, November 15th. They currently have a $80.00 price objective on the software company’s stock.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research upgraded Splunk from a sell rating to a hold rating in a report on Wednesday, August 16th. Cowen restated a buy rating on shares of Splunk in a research report on Friday, August 18th. KeyCorp restated a buy rating and set a $70.00 price objective on shares of Splunk in a research report on Friday, August 25th. Credit Suisse Group began coverage on Splunk in a research report on Tuesday, September 5th. They set an outperform rating and a $80.00 price objective for the company. Finally, BMO Capital Markets restated an outperform rating and set a $69.00 price objective (down previously from $71.00) on shares of Splunk in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $82.74.
Shares of Splunk (NASDAQ:SPLK) traded down $2.02 during midday trading on Wednesday, hitting $77.68. The stock had a trading volume of 2,694,645 shares, compared to its average volume of 1,653,335. Splunk has a 1-year low of $50.64 and a 1-year high of $84.88.
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 return on equity of 71.89% and a negative net margin of 32.72%. The business had revenue of $328.65 million during the quarter, compared to the consensus estimate of $309.01 million. sell-side analysts predict that Splunk will post -1.3 earnings per share for the current fiscal year.
In other Splunk news, CFO David F. Conte sold 21,589 shares of the business’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $68.99, for a total value of $1,489,425.11. Following 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Godfrey Sullivan sold 120,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $68.22, for a total value of $8,186,400.00. Following the completion of the transaction, the director now owns 585,790 shares in the company, valued at approximately $39,962,593.80. The disclosure for this sale can be found here. Insiders have sold 588,672 shares of company stock worth $39,505,760 over the last three months. 1.43% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in SPLK. Dimensional Fund Advisors LP boosted its stake in shares of Splunk by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 127,208 shares of the software company’s stock worth $7,924,000 after acquiring an additional 349 shares in the last quarter. Xact Kapitalforvaltning AB boosted its stake in Splunk by 0.3% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 18,241 shares of the software company’s stock valued at $1,038,000 after purchasing an additional 62 shares during the period. Chevy Chase Trust Holdings Inc. boosted its stake in Splunk by 0.6% during the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 30,039 shares of the software company’s stock valued at $1,709,000 after purchasing an additional 175 shares during the period. Mn Services Vermogensbeheer B.V. boosted its stake in Splunk by 513.0% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 21,994 shares of the software company’s stock valued at $1,251,000 after purchasing an additional 18,406 shares during the period. Finally, Diversified Trust Co boosted its stake in Splunk by 11.7% during the 2nd quarter. Diversified Trust Co now owns 3,806 shares of the software company’s stock valued at $217,000 after purchasing an additional 400 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.
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