Wedbush reissued their outperform rating on shares of Splunk (NASDAQ:SPLK) in a research report report published on Tuesday morning, BenzingaRatingsTable reports. Wedbush currently has a $158.00 price target on the software company’s stock, down from their prior price target of $163.00. Wedbush also issued estimates for Splunk’s FY2022 earnings at ($1.64) EPS.
SPLK has been the subject of several other reports. Mitsubishi UFJ Financial Group raised their target price on Splunk to $159.00 and gave the company an overweight rating in a research note on Friday, May 24th. BMO Capital Markets lowered their target price on Splunk from $162.00 to $157.00 and set an outperform rating for the company in a research note on Friday, May 24th. They noted that the move was a valuation call. Maxim Group restated a buy rating and set a $148.00 target price (down from $159.00) on shares of Splunk in a research note on Monday, June 3rd. Northland Securities reiterated a buy rating and issued a $160.00 price target on shares of Splunk in a research note on Friday, May 24th. Finally, BidaskClub upgraded Splunk from a hold rating to a buy rating in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-five have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $143.76.
Shares of Splunk stock opened at $118.41 on Tuesday. The business has a 50-day moving average of $132.17 and a 200-day moving average of $128.90. The company has a debt-to-equity ratio of 1.29, a current ratio of 3.20 and a quick ratio of 3.20. The company has a market capitalization of $19.03 billion, a PE ratio of -74.47 and a beta of 2.02. Splunk has a 1-year low of $83.69 and a 1-year high of $143.70.
Splunk (NASDAQ:SPLK) last announced its earnings results on Wednesday, August 21st. The software company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.51) by $0.16. The company had revenue of $516.56 million during the quarter, compared to the consensus estimate of $488.97 million. Splunk had a negative return on equity of 14.98% and a negative net margin of 16.31%. The company’s revenue was up 33.0% on a year-over-year basis. During the same period last year, the firm earned $0.08 earnings per share. On average, equities analysts expect that Splunk will post -0.99 earnings per share for the current fiscal year.
In other Splunk news, insider Ledger Susan St. sold 10,298 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $115.13, for a total value of $1,185,608.74. Following the transaction, the insider now owns 247,598 shares of the company’s stock, valued at $28,505,957.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Timothy Tully sold 4,624 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $115.59, for a total transaction of $534,488.16. Following the completion of the transaction, the senior vice president now directly owns 117,261 shares in the company, valued at approximately $13,554,198.99. The disclosure for this sale can be found here. Insiders sold 31,813 shares of company stock worth $3,676,685 in the last three months. 0.34% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of SPLK. Lee Capital Asset Management LLC bought a new stake in shares of Splunk during the first quarter valued at approximately $1,246,000. FDx Advisors Inc. raised its holdings in shares of Splunk by 5.4% during the second quarter. FDx Advisors Inc. now owns 1,860 shares of the software company’s stock valued at $234,000 after buying an additional 95 shares during the last quarter. Cerebellum GP LLC bought a new stake in shares of Splunk during the first quarter valued at approximately $310,000. TD Asset Management Inc. raised its holdings in shares of Splunk by 15.2% during the first quarter. TD Asset Management Inc. now owns 370,749 shares of the software company’s stock valued at $46,195,000 after buying an additional 48,936 shares during the last quarter. Finally, Moors & Cabot Inc. raised its holdings in shares of Splunk by 105.9% during the first quarter. Moors & Cabot Inc. now owns 32,508 shares of the software company’s stock valued at $4,032,000 after buying an additional 16,723 shares during the last quarter. 92.38% of the stock is currently owned by hedge funds and other institutional investors.
Splunk, Inc engages in the development and marketing of software solutions. Its products include Splunk cloud, Splunk light, and Splunk enterprise. It also offers solutions for information technology operations, security, internet-of-things, application analytics, business analytics, and industries. The company was founded by Erik M.
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