Splunk Inc. (SPLK) Research Coverage Started at Credit Suisse Group
Stock analysts at Credit Suisse Group assumed coverage on shares of Splunk Inc. (NASDAQ:SPLK) in a research report issued to clients and investors on Tuesday. The brokerage set an “outperform” rating on the software company’s stock.
Several other equities analysts have also recently issued reports on the stock. Royal Bank Of Canada upped their target price on shares of Splunk from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, May 23rd. Mizuho restated a “neutral” rating and set a $60.00 target price on shares of Splunk in a research note on Tuesday, August 15th. Morgan Stanley restated an “overweight” rating and set a $77.00 target price (up previously from $74.00) on shares of Splunk in a research note on Friday, August 25th. Robert W. Baird set a $71.00 target price on shares of Splunk and gave the company a “buy” rating in a research note on Saturday, May 27th. Finally, Maxim Group restated a “buy” rating on shares of Splunk in a research note on Sunday, May 28th. Twelve research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company’s stock. Splunk has a consensus rating of “Buy” and an average target price of $72.53.
Splunk (SPLK) opened at 67.40 on Tuesday. The company’s market capitalization is $9.37 billion. Splunk has a 52-week low of $50.64 and a 52-week high of $69.23. The company’s 50 day moving average is $60.87 and its 200-day moving average is $61.60.
Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Thursday, August 24th. The software company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 prior year, the firm posted $0.05 EPS. Splunk’s revenue for the quarter was up 31.6% on a year-over-year basis. Equities analysts anticipate that Splunk will post $0.54 EPS for the current fiscal year.
In related news, Director Godfrey Sullivan sold 128,750 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 843,290 shares of the company’s stock, valued at $48,556,638.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO David F. Conte sold 10,525 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $66.03, for a total transaction of $694,965.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 567,237 shares of company stock valued at $33,165,553. 3.00% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Nationwide Fund Advisors lifted its position in Splunk by 28.0% in the first quarter. Nationwide Fund Advisors now owns 159,900 shares of the software company’s stock worth $9,960,000 after buying an additional 34,950 shares during the last quarter. ProShare Advisors LLC bought a new stake in Splunk in the first quarter worth $200,000. IFP Advisors Inc lifted its position in Splunk by 0.6% in the first quarter. IFP Advisors Inc now owns 3,304 shares of the software company’s stock worth $206,000 after buying an additional 20 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in Splunk in the first quarter worth $791,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Splunk by 0.5% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 24,759 shares of the software company’s stock worth $1,542,000 after buying an additional 118 shares during the last quarter.
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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