Barclays PLC Increases Splunk Inc. (SPLK) Price Target to $67.00
Splunk Inc. (NASDAQ:SPLK) had its price objective raised by analysts at Barclays PLC from $65.00 to $67.00 in a research report issued to clients and investors on Friday. The firm currently has an “equal weight” rating on the software company’s stock. Barclays PLC’s target price would indicate a potential upside of 2.46% from the stock’s current price.
A number of other research firms also recently commented on SPLK. Royal Bank Of Canada boosted their price target on shares of Splunk from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 23rd. Wedbush restated an “outperform” rating and set a $78.00 price target on shares of Splunk in a research report on Monday, May 22nd. Zacks Investment Research downgraded shares of Splunk from a “buy” rating to a “hold” rating in a research report on Thursday, April 27th. Susquehanna Bancshares Inc began coverage on shares of Splunk in a research report on Wednesday, June 7th. They set a “neutral” rating and a $68.00 price target on the stock. Finally, MKM Partners restated a “neutral” rating and set a $63.00 price target (up from $60.00) on shares of Splunk in a research report on Tuesday, May 30th. Eleven research analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. Splunk has an average rating of “Buy” and a consensus price target of $71.97.
Shares of Splunk (SPLK) opened at 65.39 on Friday. The stock’s 50 day moving average price is $59.92 and its 200-day moving average price is $61.47. The firm’s market capitalization is $9.09 billion. Splunk has a 52-week low of $50.64 and a 52-week high of $69.23.
Splunk (NASDAQ:SPLK) last released its quarterly earnings results on Thursday, August 24th. The software company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. Splunk had a negative net margin of 36.81% and a negative return on equity of 75.18%. The company had revenue of $279.96 million for the quarter, compared to the consensus estimate of $268.72 million. During the same period in the previous year, the firm earned $0.05 EPS. Splunk’s revenue was up 31.6% on a year-over-year basis. Equities research analysts anticipate that Splunk will post $0.52 EPS for the current fiscal year.
In related news, CFO David F. Conte sold 1,044 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $62.20, for a total transaction of $64,936.80. Following the transaction, the chief financial officer now owns 207,965 shares in the company, valued at approximately $12,935,423. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Godfrey Sullivan sold 40,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $58.13, for a total transaction of $2,325,200.00. Following the transaction, the director now owns 744,540 shares in the company, valued at approximately $43,280,110.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 558,056 shares of company stock worth $32,554,124. 3.00% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. TLP Group LLC acquired a new position in Splunk during the first quarter worth about $102,000. Patten Group Inc. increased its position in Splunk by 3.6% in the first quarter. Patten Group Inc. now owns 2,154 shares of the software company’s stock worth $131,000 after buying an additional 75 shares during the last quarter. Acrospire Investment Management LLC increased its position in Splunk by 79.9% in the first quarter. Acrospire Investment Management LLC now owns 2,701 shares of the software company’s stock worth $168,000 after buying an additional 1,200 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in Splunk by 24.1% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,375 shares of the software company’s stock worth $195,000 after buying an additional 656 shares during the last quarter. Finally, ProShare Advisors LLC acquired a new position in Splunk during the first quarter worth about $200,000.
Splunk Inc (Splunk) is engaged in the development and marketing of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. Its offerings address diverse data sets that are referred to as big data and are specifically used for machine data.
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