Splunk (NASDAQ:SPLK) had its price target hoisted by equities research analysts at Piper Jaffray Companies to $85.00 in a report released on Friday, November 17th. The firm currently has an “overweight” rating on the software company’s stock. Piper Jaffray Companies’ target price indicates a potential upside of 9.42% from the company’s current price.
A number of other equities analysts have also weighed in on SPLK. Morgan Stanley lowered Splunk from an “overweight” rating to an “equal weight” rating and set a $77.00 target price on the stock. in a research report on Monday, October 2nd. Guggenheim reissued a “buy” rating and issued a $70.00 price target on shares of Splunk in a research report on Saturday, August 19th. BMO Capital Markets reissued a “buy” rating and issued a $71.00 price target on shares of Splunk in a research report on Wednesday, September 27th. Cowen reissued a “buy” rating and issued a $72.00 price target on shares of Splunk in a research report on Thursday, September 28th. Finally, Zacks Investment Research raised Splunk from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. 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 stock. The company has a consensus rating of “Buy” and a consensus target price of $82.74.
Shares of Splunk (SPLK) opened at $77.68 on Friday. Splunk has a twelve month low of $50.64 and a twelve month high of $84.88.
Splunk (NASDAQ:SPLK) last posted its quarterly earnings results on Thursday, November 16th. The software company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.59. The firm had revenue of $328.65 million for the quarter, compared to analysts’ expectations of $309.01 million. Splunk had a negative return on equity of 71.89% and a negative net margin of 32.72%. research analysts forecast that Splunk will post -1.3 EPS for the current fiscal year.
In other Splunk news, Director Godfrey Sullivan sold 40,000 shares of the firm’s stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $63.48, for a total value of $2,539,200.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Douglas Merritt sold 10,125 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $67.53, for a total value of $683,741.25. Following the completion of the sale, the insider now directly owns 210,260 shares in the company, valued at approximately $14,198,857.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 588,672 shares of company stock valued at $39,505,760. 1.43% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Splunk by 5.1% during the 2nd quarter. Vanguard Group Inc. now owns 11,347,936 shares of the software company’s stock valued at $645,584,000 after buying an additional 546,338 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Splunk by 2.1% during the 2nd quarter. BlackRock Inc. now owns 7,075,105 shares of the software company’s stock valued at $402,503,000 after buying an additional 143,138 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Splunk by 9.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,593,033 shares of the software company’s stock valued at $308,053,000 after buying an additional 389,565 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Splunk by 6.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,196,508 shares of the software company’s stock valued at $278,773,000 after buying an additional 254,505 shares in the last quarter. Finally, Carmignac Gestion purchased a new position in shares of Splunk during the 3rd quarter valued at about $198,193,000.
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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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