Weekly Research Analysts’ Ratings Changes for Splunk (SPLK)

Several brokerages have updated their recommendations and price targets on shares of Splunk (NASDAQ: SPLK) in the last few weeks:

  • 12/6/2018 – Splunk was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $123.00 price target on the stock. According to Zacks, “Splunk Inc. provides a software platform, which collects and indexes data and enables users to search, correlate, analyze, monitor and report on this data, all in real time. Its software is designed to help users in various roles, including IT and business professionals. Splunk Inc. is based in San Francisco, California. “
  • 12/2/2018 – Splunk had its “buy” rating reaffirmed by analysts at Cowen Inc. They now have a $133.00 price target on the stock.
  • 11/30/2018 – Splunk had its price target lowered by analysts at BMO Capital Markets from $133.00 to $132.00. They now have an “outperform” rating on the stock.
  • 11/30/2018 – Splunk had its price target lowered by analysts at Wedbush from $136.00 to $130.00. They now have an “outperform” rating on the stock.
  • 11/30/2018 – Splunk was given a new $110.00 price target on by analysts at Morgan Stanley. They now have a “hold” rating on the stock.
  • 11/30/2018 – Splunk was upgraded by analysts at TheStreet from a “d” rating to a “c-” rating.
  • 11/30/2018 – Splunk had its “buy” rating reaffirmed by analysts at Bank of America Corp. They now have a $143.00 price target on the stock, up previously from $140.00.
  • 11/27/2018 – Splunk was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 11/26/2018 – Splunk had its price target lowered by analysts at Piper Jaffray Companies to $120.00. They now have an “overweight” rating on the stock.
  • 11/6/2018 – Splunk was downgraded by analysts at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating. They now have a $110.00 price target on the stock.
  • 11/2/2018 – Splunk was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating.
  • 10/27/2018 – Splunk was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating.
  • 10/24/2018 – Splunk was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Splunk Inc. provides a software platform, which collects and indexes data and enables users to search, correlate, analyze, monitor and report on this data, all in real time. Its software is designed to help users in various roles, including IT and business professionals. Splunk Inc. is based in San Francisco, California. “
  • 10/9/2018 – Splunk was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.

Shares of NASDAQ:SPLK opened at $111.10 on Friday. Splunk Inc has a 52 week low of $79.21 and a 52 week high of $130.00. The company has a market capitalization of $15.66 billion, a price-to-earnings ratio of -84.81 and a beta of 2.13.

Splunk (NASDAQ:SPLK) last issued its earnings results on Thursday, November 29th. The software company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.61. Splunk had a negative net margin of 18.92% and a negative return on equity of 22.60%. The firm had revenue of $480.98 million during the quarter, compared to the consensus estimate of $433.60 million. During the same quarter in the prior year, the firm earned $0.17 earnings per share. The business’s quarterly revenue was up 40.4% on a year-over-year basis. On average, equities research analysts forecast that Splunk Inc will post -1.07 EPS for the current fiscal year.

In other Splunk news, Director Mark T. Carges sold 4,171 shares of the company’s stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $110.00, for a total value of $458,810.00. Following the completion of the sale, the director now owns 15,273 shares of the company’s stock, valued at $1,680,030. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Timothy Tully sold 19,100 shares of the company’s 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. Insiders sold 73,203 shares of company stock valued at $9,099,674 in the last ninety days. Insiders own 0.36% of the company’s stock.

A number of large investors have recently modified their holdings of SPLK. Principal Financial Group Inc. boosted its holdings in shares of Splunk by 110.9% in the first quarter. Principal Financial Group Inc. now owns 20,790 shares of the software company’s stock valued at $2,045,000 after buying an additional 10,931 shares during the period. Dupont Capital Management Corp boosted its holdings in shares of Splunk by 81.5% in the second quarter. Dupont Capital Management Corp now owns 5,671 shares of the software company’s stock valued at $562,000 after buying an additional 2,546 shares during the period. Aperio Group LLC boosted its holdings in shares of Splunk by 22.9% in the second quarter. Aperio Group LLC now owns 33,024 shares of the software company’s stock valued at $3,273,000 after buying an additional 6,154 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Splunk by 160.9% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 75,672 shares of the software company’s stock valued at $7,500,000 after buying an additional 46,672 shares during the period. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Splunk by 60.6% in the second quarter. Commonwealth Equity Services LLC now owns 5,443 shares of the software company’s stock valued at $539,000 after buying an additional 2,054 shares during the period. 91.41% 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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