Splunk (NASDAQ:SPLK) had its target price lifted by Jefferies Group to $136.00 in a research report report published on Friday morning. The brokerage currently has a buy rating on the software company’s stock.
Other analysts have also recently issued reports about the company. Piper Jaffray Companies reissued a buy rating and issued a $105.00 target price on shares of Splunk in a research report on Tuesday, February 27th. BMO Capital Markets upped their target price on Splunk from $112.00 to $125.00 and gave the company an outperform rating in a research report on Friday. Stephens reissued a buy rating and issued a $115.00 target price on shares of Splunk in a research report on Friday, March 2nd. Needham & Company LLC upped their target price on Splunk from $115.00 to $123.00 and gave the company a buy rating in a research report on Friday, March 2nd. Finally, Maxim Group upped their target price on Splunk from $96.00 to $116.00 and gave the company a buy rating in a research report on Friday, March 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have issued a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $108.71.
Shares of Splunk opened at $110.26 on Friday, according to MarketBeat. The stock has a market capitalization of $16.86 billion, a P/E ratio of -84.17 and a beta of 1.85. Splunk has a 52-week low of $54.17 and a 52-week high of $119.00.
Splunk (NASDAQ:SPLK) last announced its earnings results on Thursday, May 24th. The software company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. The firm had revenue of $311.60 million during the quarter, compared to analysts’ expectations of $297.58 million. Splunk had a negative return on equity of 33.11% and a negative net margin of 20.72%. The business’s revenue was up 37.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) EPS. research analysts anticipate that Splunk will post -1.14 earnings per share for the current year.
In related news, CEO Douglas Merritt sold 16,677 shares of the firm’s stock in a transaction that occurred on Tuesday, April 3rd. The stock was sold at an average price of $97.66, for a total value of $1,628,675.82. Following the completion of the transaction, the chief executive officer now directly owns 318,894 shares of the company’s stock, valued at approximately $31,143,188.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Leonard R. Stein sold 10,047 shares of the firm’s stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $107.89, for a total value of $1,083,970.83. Following the completion of the transaction, the senior vice president now directly owns 78,606 shares of the company’s stock, valued at $8,480,801.34. The disclosure for this sale can be found here. Insiders sold a total of 163,912 shares of company stock valued at $16,716,531 over the last ninety days. 0.36% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPLK. First Mercantile Trust Co. acquired a new stake in Splunk during the 1st quarter valued at $100,000. SeaCrest Wealth Management LLC acquired a new stake in Splunk during the 4th quarter valued at $102,000. Three Peaks Capital Management LLC acquired a new stake in Splunk during the 1st quarter valued at $106,000. James Hambro & Partners acquired a new stake in Splunk during the 4th quarter valued at $124,000. Finally, Neuberger Berman Group LLC acquired a new stake in Splunk during the 1st quarter valued at $204,000. 93.40% of the stock is owned by hedge funds and other institutional investors.
Splunk Inc provides software solutions that enable organizations to gain real-time operational intelligence in the United States and internationally. Its products enable users to collect, index, search, explore, monitor, correlate, and analyze data regardless of format or source. The company offers Splunk Enterprise, a machine data platform with collection, indexing, search, reporting, analysis, alerting, monitoring, and data management capabilities; and Splunk Cloud.
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