Robert W. Baird Analysts Give Splunk Inc. (SPLK) a $75.00 Price Target
Other analysts have also issued reports about the company. Zacks Investment Research upgraded Splunk from a hold rating to a buy rating and set a $69.00 price objective for the company in a report on Thursday, June 1st. Maxim Group reiterated a buy rating on shares of Splunk in a report on Sunday, May 28th. Guggenheim upgraded Splunk from a neutral rating to a buy rating and increased their price objective for the stock from $69.00 to $70.00 in a report on Thursday, June 22nd. BMO Capital Markets reiterated a buy rating and set a $71.00 price objective on shares of Splunk in a report on Wednesday, July 12th. Finally, Drexel Hamilton reiterated a buy rating and set a $93.00 price objective on shares of Splunk in a report on Thursday, July 13th. Eleven investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. Splunk has a consensus rating of Buy and a consensus target price of $72.38.
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 stock’s market capitalization is $9.09 billion. Splunk has a 12-month low of $50.64 and a 12-month high of $69.23.
Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Thursday, August 24th. The software company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.02. Splunk had a negative return on equity of 75.18% and a negative net margin of 36.81%. The business had revenue of $279.96 million during the quarter, compared to analyst estimates of $268.72 million. During the same period last year, the company earned $0.05 earnings per share. Splunk’s quarterly revenue was up 31.6% compared to the same quarter last year. Analysts expect that Splunk will post $0.52 earnings per share for the current year.
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In other Splunk news, SVP Leonard R. Stein sold 4,851 shares of Splunk stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $58.20, for a total transaction of $282,328.20. Following the sale, the senior vice president now directly owns 103,909 shares of the company’s stock, valued at $6,047,503.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Godfrey Sullivan sold 128,750 shares of Splunk stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $57.58, for a total value of $7,413,425.00. Following the sale, the director now directly owns 843,290 shares in the company, valued at $48,556,638.20. The disclosure for this sale can be found here. Insiders have sold 558,056 shares of company stock worth $32,554,124 over the last ninety days. Company insiders own 3.00% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio increased its stake in Splunk by 7.5% in the second quarter. Public Employees Retirement System of Ohio now owns 49,910 shares of the software company’s stock worth $2,839,000 after buying an additional 3,483 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Splunk by 39.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 32,533 shares of the software company’s stock worth $1,851,000 after buying an additional 9,165 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Splunk by 8.5% in the second quarter. The Manufacturers Life Insurance Company now owns 4,950 shares of the software company’s stock worth $282,000 after buying an additional 389 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake 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, Cubist Systematic Strategies LLC boosted its position in Splunk by 38.9% in the second quarter. Cubist Systematic Strategies LLC now owns 9,924 shares of the software company’s stock worth $565,000 after buying an additional 2,778 shares during the period.
Splunk Company Profile
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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