Splunk (SPLK) Stock Rating Reaffirmed by Royal Bank Of Canada

Royal Bank Of Canada reiterated their outperform rating on shares of Splunk (NASDAQ:SPLK) in a research report sent to investors on Friday, November 17th, Marketbeat Ratings reports. Royal Bank Of Canada currently has a $90.00 price objective on the software company’s stock, up from their prior price objective of $76.00.

Other research analysts have also issued research reports about the company. Zacks Investment Research upgraded Splunk from a sell rating to a hold rating in a research report on Wednesday, August 16th. Cowen reiterated a buy rating on shares of Splunk in a research report on Friday, August 18th. Wells Fargo & Company restated a buy rating and set a $95.00 price objective on shares of Splunk in a research report on Friday, November 17th. KeyCorp restated a buy rating and set a $70.00 price objective on shares of Splunk in a research report on Friday, August 25th. Finally, 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-eight have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $82.74.

Splunk (NASDAQ SPLK) traded down $2.02 during mid-day trading on Friday, reaching $77.68. The company’s stock had a trading volume of 2,694,645 shares, compared to its average volume of 1,653,335. Splunk has a 52 week low of $50.64 and a 52 week high of $84.88.

Splunk (NASDAQ:SPLK) last posted its quarterly earnings data on Thursday, November 16th. The software company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.59. The company had revenue of $328.65 million for the quarter, compared to the consensus estimate of $309.01 million. Splunk had a negative return on equity of 71.89% and a negative net margin of 32.72%. equities analysts anticipate that Splunk will post -1.3 earnings per share for the current fiscal year.

In other news, SVP Leonard R. Stein sold 4,851 shares of the business’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $67.79, for a total transaction of $328,849.29. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas M. Neustaetter sold 3,614 shares of the business’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $67.70, for a total value of $244,667.80. Following the sale, the director now directly owns 12,871 shares in the company, valued at $871,366.70. 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 ninety days. 1.43% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Crossmark Global Holdings Inc. acquired a new position in shares of Splunk during the 3rd quarter worth about $201,000. FDx Advisors Inc. acquired a new position in shares of Splunk during the 3rd quarter worth about $210,000. Commonwealth Equity Services Inc acquired a new position in shares of Splunk during the 3rd quarter worth about $210,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Splunk by 24.1% during the 2nd 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 last quarter. Finally, IFP Advisors Inc lifted its position in shares of Splunk by 6.2% during the 2nd quarter. IFP Advisors Inc now owns 3,508 shares of the software company’s stock worth $200,000 after purchasing an additional 204 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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