Barclays upgraded shares of Splunk (NASDAQ:SPLK) from an equal weight rating to an overweight rating in a research report sent to investors on Monday, January 8th, Marketbeat reports. The brokerage currently has $105.00 target price on the software company’s stock, up from their previous target price of $80.00.
Several other analysts also recently issued reports on SPLK. Morgan Stanley downgraded Splunk from an overweight rating to an equal weight rating and set a $77.00 price target for the company. in a report on Monday, October 2nd. Cowen restated a buy rating and set a $72.00 target price on shares of Splunk in a research note on Thursday, September 28th. BMO Capital Markets restated a buy rating and set a $71.00 target price on shares of Splunk in a research note on Wednesday, September 27th. Robert W. Baird set a $75.00 price target on shares of Splunk and gave the stock a buy rating in a research report on Sunday, October 1st. Finally, UBS Group set a $80.00 price target on shares of Splunk and gave the stock a buy rating in a research report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirty have issued a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $84.29.
Splunk (NASDAQ SPLK) traded down $1.12 during mid-day trading on Monday, reaching $91.23. The company had a trading volume of 1,221,196 shares, compared to its average volume of 1,230,000. Splunk has a 12-month low of $54.17 and a 12-month high of $93.68. The stock has a market cap of $12,750.00, a price-to-earnings ratio of -40.91 and a beta of 2.04.
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, 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 72.06% and a negative net margin of 32.72%. equities research analysts anticipate that Splunk will post -1.3 EPS for the current fiscal year.
In other news, Director Godfrey Sullivan sold 120,000 shares of Splunk stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $68.22, for a total transaction of $8,186,400.00. Following the sale, the director now directly owns 585,790 shares in the company, valued at approximately $39,962,593.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ledger Susan St. sold 10,316 shares of Splunk stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $70.17, for a total transaction of $723,873.72. Following the sale, the insider now owns 253,102 shares in the company, valued at $17,760,167.34. The disclosure for this sale can be found here. Insiders sold a total of 201,036 shares of company stock worth $14,132,192 in the last quarter. Insiders own 1.43% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Zions Bancorporation acquired a new position in shares of Splunk during the third quarter worth approximately $591,000. Royal Bank of Canada lifted its position in shares of 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 in the last quarter. Motley Fool Asset Management LLC lifted its position in shares of Splunk by 8.4% during the third quarter. Motley Fool Asset Management LLC now owns 167,500 shares of the software company’s stock worth $11,127,000 after purchasing an additional 13,000 shares in the last quarter. Advisor Group Inc. lifted its position in shares of Splunk by 51.4% during the third quarter. Advisor Group Inc. now owns 6,126 shares of the software company’s stock worth $406,000 after purchasing an additional 2,080 shares in the last quarter. Finally, Sit Investment Associates Inc. lifted its position in shares of Splunk by 23.4% during the third quarter. Sit Investment Associates Inc. now owns 24,275 shares of the software company’s stock worth $1,613,000 after purchasing an additional 4,600 shares in the last quarter.
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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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