BTIG Research Raises Splunk Inc. (SPLK) Price Target to $95.00
Splunk Inc. (NASDAQ:SPLK) had its price objective increased by BTIG Research from $80.00 to $95.00 in a note issued to investors on Friday. The brokerage currently has a “buy” rating on the software company’s stock. BTIG Research’s price target suggests a potential upside of 37.09% from the company’s previous close.
Other equities analysts have also issued research reports about the stock. Cowen and Company reiterated a “buy” rating on shares of Splunk in a research report on Friday, August 18th. Canaccord Genuity restated a “buy” rating and set a $90.00 price objective (up previously from $80.00) on shares of Splunk in a research report on Friday. Maxim Group restated a “buy” rating and set a $85.00 price objective on shares of Splunk in a research report on Friday, August 25th. Zacks Investment Research lowered shares of Splunk from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Finally, Oppenheimer Holdings, Inc. restated a “buy” rating and set a $80.00 price objective on shares of Splunk in a research report on Friday, August 25th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $79.06.
Shares of Splunk (NASDAQ:SPLK) opened at $69.30 on Friday. Splunk has a twelve month low of $50.64 and a twelve month high of $71.46.
Splunk (NASDAQ:SPLK) last issued its earnings results on Thursday, November 16th. The software company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.03. Splunk had a negative net margin of 36.81% and a negative return on equity of 75.81%. sell-side analysts anticipate that Splunk will post -1.47 earnings per share for the current year.
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In other Splunk news, CFO David F. Conte sold 21,589 shares of Splunk stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $68.99, for a total transaction of $1,489,425.11. Following the completion of the transaction, the chief financial officer now directly owns 161,022 shares of the company’s stock, valued at $11,108,907.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Ledger Susan St. sold 677 shares of Splunk stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $69.52, for a total value of $47,065.04. Following the transaction, the senior vice president now directly owns 168,376 shares of the company’s stock, valued at $11,705,499.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 599,197 shares of company stock worth $40,200,725. 1.43% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. bought a new position in shares of Splunk in the third quarter valued at about $201,000. FDx Advisors Inc. bought a new position in shares of Splunk in the third quarter valued at about $210,000. Commonwealth Equity Services Inc bought a new position in shares of Splunk in the third quarter valued at about $210,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Splunk by 24.1% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,375 shares of the software company’s stock valued at $195,000 after buying an additional 656 shares during the last quarter. Finally, IFP Advisors Inc raised its holdings in shares of Splunk by 6.2% in the second quarter. IFP Advisors Inc now owns 3,508 shares of the software company’s stock valued at $200,000 after buying an additional 204 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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