Splunk’s (NASDAQ:SPLK) Buy Rating Reaffirmed at Jefferies Group

Splunk (NASDAQ:SPLK)‘s stock had its “buy” rating reissued by stock analysts at Jefferies Group in a research report issued on Friday, November 17th, The Fly reports. They currently have a $88.00 price objective on the software company’s stock. Jefferies Group’s price target points to a potential upside of 13.29% from the stock’s current price.

A number of other research firms also recently weighed in on SPLK. Drexel Hamilton restated a “buy” rating and set a $93.00 target price on shares of Splunk in a research report on Thursday, November 16th. Royal Bank Of Canada reiterated a “buy” rating and issued a $76.00 price objective on shares of Splunk in a report on Tuesday, November 7th. Piper Jaffray Companies reiterated a “buy” rating and issued a $80.00 price objective on shares of Splunk in a report on Wednesday, November 15th. BMO Capital Markets reiterated a “buy” rating and issued a $71.00 price objective on shares of Splunk in a report on Wednesday, September 27th. Finally, ValuEngine upgraded Splunk from a “sell” rating to a “hold” rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $82.74.

Shares of Splunk (NASDAQ SPLK) opened at $77.68 on Friday. Splunk has a one year low of $50.64 and a one year high of $84.88.

Splunk (NASDAQ:SPLK) last posted its quarterly earnings data on Thursday, November 16th. The software company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.59. The company had revenue of $328.65 million for 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%. equities research analysts expect 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 the firm’s stock in a transaction on 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 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 document filed with the SEC, which is available at the SEC website. Also, Director Godfrey Sullivan sold 40,000 shares of the firm’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $63.48, for a total value of $2,539,200.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 588,672 shares of company stock worth $39,505,760. 1.43% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its holdings in shares of Splunk by 99.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 27,726 shares of the software company’s stock valued at $1,577,000 after acquiring an additional 13,849 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Splunk by 7.3% in the 2nd quarter. Advisors Asset Management Inc. now owns 15,167 shares of the software company’s stock worth $863,000 after acquiring an additional 1,032 shares in the last quarter. Swiss National Bank raised its position in shares of Splunk by 3.8% in the 2nd quarter. Swiss National Bank now owns 494,700 shares of the software company’s stock worth $28,143,000 after acquiring an additional 17,900 shares in the last quarter. Royal Bank of Canada raised its position in shares of Splunk by 13.5% in the 2nd quarter. Royal Bank of Canada now owns 52,243 shares of the software company’s stock worth $2,972,000 after acquiring an additional 6,212 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Splunk by 1.2% in the 2nd quarter. Legal & General Group Plc now owns 547,738 shares of the software company’s stock worth $31,160,000 after acquiring an additional 6,713 shares in 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.

The Fly

Analyst Recommendations for Splunk (NASDAQ:SPLK)

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