Zacks Investment Research upgraded shares of Splunk (NASDAQ:SPLK) from a hold rating to a buy rating in a research report sent to investors on Wednesday. The brokerage currently has $121.00 price objective on the software company’s stock.

According to Zacks, “Splunk Inc. provides a software platform, which collects and indexes data and enables users to search, correlate, analyze, monitor and report on this data, all in real time. Its software is designed to help users in various roles, including IT and business professionals. Splunk Inc. is based in San Francisco, California. “

A number of other brokerages have also recently issued reports on SPLK. Guggenheim assumed coverage on Splunk in a research note on Monday. They set a neutral rating on the stock. BidaskClub raised Splunk from a hold rating to a buy rating in a research note on Tuesday, November 27th. BMO Capital Markets reduced their price objective on Splunk from $133.00 to $132.00 and set an outperform rating on the stock in a research note on Friday, November 30th. Cowen reaffirmed a buy rating and set a $133.00 price objective on shares of Splunk in a research note on Sunday, December 2nd. Finally, Piper Jaffray Companies raised their price objective on Splunk to $135.00 and gave the company an overweight rating in a research note on Friday, August 24th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the stock. Splunk currently has an average rating of Buy and an average price target of $128.16.

SPLK traded down $1.98 during trading on Wednesday, reaching $107.42. The stock had a trading volume of 23,355 shares, compared to its average volume of 2,516,461. The stock has a market cap of $15.71 billion, a PE ratio of -82.03 and a beta of 2.13. The company has a quick ratio of 1.70, a current ratio of 3.84 and a debt-to-equity ratio of 1.14. Splunk has a one year low of $79.68 and a one year high of $130.00.

Splunk (NASDAQ:SPLK) last released its earnings results on Thursday, November 29th. The software company reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.61. The business had revenue of $480.98 million for the quarter, compared to analysts’ expectations of $433.60 million. Splunk had a negative return on equity of 20.60% and a negative net margin of 18.92%. The firm’s revenue was up 40.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.17 earnings per share. As a group, equities analysts anticipate that Splunk will post -1.07 earnings per share for the current year.

In other Splunk news, Director Godfrey Sullivan sold 8,750 shares of the firm’s stock in a transaction dated Monday, December 10th. The shares were sold at an average price of $104.24, for a total value of $912,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark T. Carges sold 2,091 shares of the firm’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $124.87, for a total transaction of $261,103.17. Following the completion of the sale, the director now owns 19,444 shares of the company’s stock, valued at $2,427,972.28. The disclosure for this sale can be found here. Insiders sold 35,773 shares of company stock valued at $3,868,766 over the last 90 days. 0.36% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Splunk by 472.3% during the third quarter. Bronfman E.L. Rothschild L.P. now owns 1,013 shares of the software company’s stock valued at $122,000 after purchasing an additional 836 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in Splunk in the 2nd quarter worth approximately $104,000. Point72 Hong Kong Ltd bought a new stake in Splunk in the 2nd quarter worth approximately $110,000. Centaurus Financial Inc. bought a new stake in Splunk in the 2nd quarter worth approximately $124,000. Finally, Stratos Wealth Partners LTD. bought a new stake in Splunk in the 3rd quarter worth approximately $169,000. Institutional investors and hedge funds own 91.41% of the company’s stock.

About Splunk

Splunk Inc provides software solutions that enable organizations to gain real-time operational intelligence in the United States and internationally. Its products enable users to collect, index, search, explore, monitor, correlate, and analyze data regardless of format or source. The company offers Splunk Enterprise, a machine data platform with collection, indexing, search, reporting, analysis, alerting, monitoring, and data management capabilities; and Splunk Cloud.

See Also: Return on Investment (ROI)

Get a free copy of the Zacks research report on Splunk (SPLK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Splunk (NASDAQ:SPLK)

Receive News & Ratings for Splunk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Splunk and related companies with MarketBeat.com's FREE daily email newsletter.