Splunk (NASDAQ:SPLK) PT Raised to $235.00

Splunk (NASDAQ:SPLK) had its price objective increased by research analysts at Mizuho from $225.00 to $235.00 in a research report issued to clients and investors on Thursday, The Fly reports. The firm currently has a “buy” rating on the software company’s stock. Mizuho’s price target indicates a potential upside of 8.53% from the company’s current price.

Other analysts have also issued research reports about the company. BTIG Research assumed coverage on Splunk in a report on Friday, July 10th. They set a “buy” rating and a $243.00 price objective on the stock. Truist lifted their price objective on Splunk from $180.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Evercore ISI raised Splunk from an “in-line” rating to an “outperform” rating in a report on Friday, October 2nd. Needham & Company LLC lifted their price objective on Splunk from $250.00 to $301.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Robert W. Baird raised Splunk from a “neutral” rating to an “outperform” rating and set a $240.00 price objective on the stock in a report on Thursday, September 24th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and thirty-four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $226.78.

Shares of NASDAQ SPLK opened at $216.53 on Thursday. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.35. The business’s 50 day moving average is $195.81 and its two-hundred day moving average is $182.24. The company has a market cap of $33.95 billion, a P/E ratio of -51.50 and a beta of 1.57. Splunk has a 12 month low of $93.92 and a 12 month high of $225.89.

Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Wednesday, August 26th. The software company reported ($0.33) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.12) by $0.79. Splunk had a negative return on equity of 25.57% and a negative net margin of 27.62%. The company had revenue of $491.66 million for the quarter, compared to analyst estimates of $520.28 million. During the same quarter last year, the firm earned $0.30 EPS. Splunk’s revenue for the quarter was down 4.8% compared to the same quarter last year. Sell-side analysts expect that Splunk will post -3.51 earnings per share for the current fiscal year.

In related news, CAO Timothy Emanuelson sold 701 shares of the company’s stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $208.98, for a total value of $146,494.98. Following the completion of the sale, the chief accounting officer now owns 22,452 shares in the company, valued at $4,692,018.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas Merritt sold 18,862 shares of the company’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $183.02, for a total value of $3,452,123.24. Following the completion of the sale, the chief executive officer now owns 266,868 shares of the company’s stock, valued at approximately $48,842,181.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 99,357 shares of company stock valued at $19,003,013. 0.21% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Splunk by 1.3% in the second quarter. Vanguard Group Inc. now owns 14,770,516 shares of the software company’s stock valued at $2,934,901,000 after purchasing an additional 194,156 shares during the last quarter. First Trust Advisors LP increased its holdings in Splunk by 0.6% in the second quarter. First Trust Advisors LP now owns 1,702,932 shares of the software company’s stock valued at $338,373,000 after purchasing an additional 9,860 shares during the last quarter. Holocene Advisors LP increased its holdings in Splunk by 32,404.2% in the second quarter. Holocene Advisors LP now owns 789,528 shares of the software company’s stock valued at $156,879,000 after purchasing an additional 787,099 shares during the last quarter. Frontier Capital Management Co. LLC increased its holdings in Splunk by 7.6% in the second quarter. Frontier Capital Management Co. LLC now owns 731,170 shares of the software company’s stock valued at $145,283,000 after purchasing an additional 51,792 shares during the last quarter. Finally, Swiss National Bank increased its holdings in Splunk by 3.0% in the second quarter. Swiss National Bank now owns 616,938 shares of the software company’s stock valued at $122,586,000 after purchasing an additional 17,800 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

About Splunk

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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