Robert W. Baird Reaffirms Average Rating for Splunk (SPLK)

Robert W. Baird reaffirmed their average rating on shares of Splunk (NASDAQ:SPLK) in a research report report published on Monday, November 20th, The Fly reports. They currently have a $85.00 target price on the software company’s stock, up from their previous target price of $75.00.

Several other analysts have also recently commented on the stock. Bank of America increased their price target on shares of Splunk from $80.00 to $95.00 and gave the company a buy rating in a research note on Friday, November 17th. Barclays increased their price target on shares of Splunk from $73.00 to $80.00 and gave the company an equal weight rating in a research note on Friday, November 17th. Drexel Hamilton reissued a buy rating and set a $93.00 price target on shares of Splunk in a research note on Thursday, November 16th. Jefferies Group restated a buy rating and issued a $88.00 price objective on shares of Splunk in a report on Friday, November 17th. Finally, Wells Fargo & Company restated a buy rating and issued a $95.00 price objective on shares of Splunk in a report on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-eight have issued a buy rating to the stock. The company has an average rating of Buy and an average target price of $82.74.

Splunk (NASDAQ:SPLK) traded up $0.10 during trading on Monday, reaching $80.55. 1,416,628 shares of the company’s stock were exchanged, compared to its average volume of 1,652,966. Splunk has a 52-week low of $50.64 and a 52-week high of $84.88.

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

In related news, Director Godfrey Sullivan sold 128,750 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $67.84, for a total transaction of $8,734,400.00. Following the transaction, the director now owns 699,540 shares in the company, valued at approximately $47,456,793.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ledger Susan St. sold 10,316 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $70.17, for a total transaction of $723,873.72. Following the transaction, the insider now owns 253,102 shares in the company, valued at approximately $17,760,167.34. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 588,672 shares of company stock worth $39,505,760. Insiders own 1.43% of the company’s stock.

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

The Fly

Analyst Recommendations for Splunk (NASDAQ:SPLK)

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