Splunk’s (SPLK) Neutral Rating Reiterated at Citigroup

Citigroup reissued their neutral rating on shares of Splunk (NASDAQ:SPLKGet Rating) in a research note released on Wednesday morning. The firm currently has a $118.00 target price on the software company’s stock, down from their prior target price of $120.00.

Several other research analysts have also recently weighed in on the stock. Canaccord Genuity Group assumed coverage on shares of Splunk in a research report on Thursday, July 7th. They issued a buy rating and a $130.00 price objective on the stock. Morgan Stanley decreased their price objective on shares of Splunk from $152.00 to $138.00 and set an equal weight rating on the stock in a research report on Thursday, May 19th. BMO Capital Markets decreased their price objective on shares of Splunk from $142.00 to $125.00 in a research report on Thursday, May 26th. Piper Sandler decreased their price objective on shares of Splunk from $130.00 to $120.00 in a research report on Wednesday, July 13th. Finally, Credit Suisse Group reduced their price target on shares of Splunk from $225.00 to $180.00 and set an outperform rating on the stock in a research report on Thursday, May 26th. Eight research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $143.48.

Splunk Stock Up 0.3 %

Shares of SPLK opened at $112.57 on Wednesday. The business’s 50-day moving average price is $98.77 and its 200-day moving average price is $113.22. Splunk has a twelve month low of $84.63 and a twelve month high of $176.66. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 14.09.

Splunk (NASDAQ:SPLKGet Rating) last posted its quarterly earnings data on Wednesday, May 25th. The software company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.74) by $0.42. The company had revenue of $674.08 million for the quarter, compared to analysts’ expectations of $629.73 million. Splunk had a negative net margin of 41.20% and a negative return on equity of 396.11%. Splunk’s revenue for the quarter was up 34.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.84) earnings per share. On average, analysts predict that Splunk will post -4.14 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Scott Morgan sold 883 shares of the firm’s stock in a transaction on Thursday, June 16th. The stock was sold at an average price of $88.08, for a total value of $77,774.64. Following the completion of the sale, the senior vice president now owns 130,311 shares of the company’s stock, valued at $11,477,792.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Scott Morgan sold 883 shares of the firm’s stock in a transaction on Thursday, June 16th. The stock was sold at an average price of $88.08, for a total value of $77,774.64. Following the completion of the sale, the senior vice president now owns 130,311 shares of the company’s stock, valued at $11,477,792.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shawn Bice sold 31,316 shares of the firm’s stock in a transaction on Thursday, June 16th. The stock was sold at an average price of $87.73, for a total value of $2,747,352.68. Following the completion of the sale, the insider now directly owns 103,680 shares of the company’s stock, valued at approximately $9,095,846.40. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Splunk

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Worth Asset Management LLC purchased a new position in Splunk during the second quarter valued at $27,000. First Horizon Advisors Inc. lifted its position in Splunk by 179.8% during the second quarter. First Horizon Advisors Inc. now owns 319 shares of the software company’s stock valued at $27,000 after buying an additional 205 shares during the period. Sterling Investment Advisors Ltd. purchased a new position in Splunk during the first quarter valued at $30,000. SJS Investment Consulting Inc. lifted its position in Splunk by 66.4% during the first quarter. SJS Investment Consulting Inc. now owns 228 shares of the software company’s stock valued at $34,000 after buying an additional 91 shares during the period. Finally, Wolverine Asset Management LLC lifted its position in Splunk by 109.2% during the first quarter. Wolverine Asset Management LLC now owns 235 shares of the software company’s stock valued at $34,000 after buying an additional 2,800 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

About Splunk

(Get Rating)

Splunk Inc, together with its subsidiaries, provides software and cloud solutions that deliver and operationalize insights from the data generated by digital systems in the United States and internationally. The company offers Splunk Platform, a real-time data platform comprising collection, streaming, indexing, search, reporting, analysis, machine learning, alerting, monitoring, and data management capabilities.

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Analyst Recommendations for Splunk (NASDAQ:SPLK)

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