Splunk (SPLK) Hits New 12-Month High After Analyst Upgrade

Splunk Inc (NASDAQ:SPLK) reached a new 52-week high during mid-day trading on Thursday after Mizuho raised their price target on the stock from $90.00 to $100.00. Mizuho currently has a buy rating on the stock. Splunk traded as high as $95.76 and last traded at $92.35, with a volume of 2349300 shares. The stock had previously closed at $92.35.

Other equities research analysts also recently issued research reports about the stock. Robert W. Baird reiterated an “average” rating and issued a $85.00 target price (up previously from $75.00) on shares of Splunk in a research report on Monday, November 20th. Needham & Company LLC initiated coverage on shares of Splunk in a research report on Monday, October 23rd. They issued a “buy” rating and a $95.00 target price for the company. Northland Securities reiterated a “buy” rating and issued a $80.00 target price on shares of Splunk in a research report on Thursday, October 19th. Maxim Group increased their target price on shares of Splunk from $79.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, November 17th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $90.00 target price (up previously from $80.00) on shares of Splunk in a research report on Friday, November 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirty have issued a buy rating to the company’s stock. Splunk presently has an average rating of “Buy” and an average price target of $84.59.

In related news, CFO David F. Conte sold 6,993 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $80.73, for a total value of $564,544.89. Following the transaction, the chief financial officer now directly owns 110,364 shares in the company, valued at approximately $8,909,685.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Godfrey Sullivan sold 8,750 shares of the firm’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $81.29, for a total transaction of $711,287.50. Following the completion of the transaction, the director now owns 207,239 shares in the company, valued at $16,846,458.31. The disclosure for this sale can be found here. Insiders sold a total of 30,720 shares of company stock worth $2,477,118 over the last quarter. 1.43% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of SPLK. SeaCrest Wealth Management LLC acquired a new position in Splunk in the 4th quarter valued at $102,000. James Hambro & Partners acquired a new position in Splunk in the 4th quarter valued at $124,000. Patten Group Inc. grew its stake in Splunk by 1,048.8% in the 3rd quarter. Patten Group Inc. now owns 24,746 shares of the software company’s stock valued at $143,000 after buying an additional 22,592 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in Splunk in the 3rd quarter valued at $201,000. Finally, MANA Advisors LLC acquired a new position in Splunk in the 4th quarter valued at $208,000.

The company has a market capitalization of $13,100.00, a P/E ratio of -41.54 and a beta of 2.04.

Splunk (NASDAQ:SPLK) last posted its earnings results on Thursday, November 16th. The software company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.59. Splunk had a negative net margin of 32.72% and a negative return on equity of 72.06%. The business had revenue of $328.65 million for the quarter, compared to analyst estimates of $309.01 million. sell-side analysts predict that Splunk Inc will post -1.3 earnings per share for the current year.

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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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