Analysts Set Splunk Inc (SPLK) Price Target at $128.28

Shares of Splunk Inc (NASDAQ:SPLK) have received a consensus recommendation of “Buy” from the thirty-six ratings firms that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $128.28.

SPLK has been the subject of several analyst reports. Zacks Investment Research lowered Splunk from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. ValuEngine upgraded Splunk from a “buy” rating to a “strong-buy” rating in a report on Friday, November 2nd. Piper Jaffray Companies increased their price objective on Splunk to $135.00 and gave the company an “overweight” rating in a report on Friday, August 24th. Needham & Company LLC reiterated a “buy” rating and set a $145.00 price objective (up previously from $127.00) on shares of Splunk in a report on Friday, August 24th. Finally, Monness Crespi & Hardt increased their price objective on Splunk from $145.00 to $170.00 and gave the company a “buy” rating in a report on Friday, August 24th.

In other news, CFO David F. Conte sold 15,519 shares of Splunk stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $125.29, for a total transaction of $1,944,375.51. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Timothy Tully sold 19,100 shares of Splunk stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $125.46, for a total transaction of $2,396,286.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,032 shares of company stock worth $8,640,864. Corporate insiders own 0.36% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. grew its stake in Splunk by 110.9% in the first quarter. Principal Financial Group Inc. now owns 20,790 shares of the software company’s stock worth $2,045,000 after purchasing an additional 10,931 shares in the last quarter. Bank of Montreal Can grew its stake in Splunk by 29.2% in the second quarter. Bank of Montreal Can now owns 60,249 shares of the software company’s stock worth $5,972,000 after purchasing an additional 13,605 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Splunk by 4,695.5% in the second quarter. Nisa Investment Advisors LLC now owns 9,591 shares of the software company’s stock worth $951,000 after purchasing an additional 9,391 shares in the last quarter. Hartford Investment Management Co. bought a new position in Splunk in the second quarter worth approximately $328,000. Finally, Cornerstone Wealth Management LLC bought a new position in Splunk in the second quarter worth approximately $813,000. 87.82% of the stock is currently owned by institutional investors.

SPLK opened at $92.57 on Friday. The company has a market cap of $13.42 billion, a PE ratio of -70.66 and a beta of 2.15. Splunk has a one year low of $76.89 and a one year high of $130.00.

Splunk (NASDAQ:SPLK) last announced its earnings results on Thursday, August 23rd. The software company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. The business had revenue of $388.30 million for the quarter, compared to analysts’ expectations of $358.46 million. Splunk had a negative return on equity of 26.44% and a negative net margin of 20.55%. The business’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 EPS. On average, sell-side analysts forecast that Splunk will post -1.15 EPS for the current year.

About Splunk

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.

Read More: What is Cost of Debt?

Analyst Recommendations for Splunk (NASDAQ:SPLK)

Receive News & Ratings for Splunk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Splunk and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply