Splunk (NASDAQ:SPLK) had its target price increased by Wells Fargo & Co from $175.00 to $200.00 in a report released on Thursday morning, The Fly reports. Wells Fargo & Co currently has an overweight rating on the software company’s stock.

Other equities analysts have also recently issued reports about the stock. SunTrust Banks raised their price objective on shares of Splunk from $175.00 to $190.00 and gave the company a buy rating in a research note on Tuesday. ValuEngine cut shares of Splunk from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Northland Securities reissued a buy rating and set a $160.00 price target on shares of Splunk in a research report on Friday, November 22nd. Jefferies Financial Group reissued a buy rating and set a $180.00 price target (up from $165.00) on shares of Splunk in a research report on Thursday, January 9th. Finally, BidaskClub raised shares of Splunk from a hold rating to a buy rating in a research report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-nine have assigned a buy rating to the company. Splunk has an average rating of Buy and an average price target of $160.06.

SPLK stock traded down $2.36 during midday trading on Thursday, reaching $157.96. The company’s stock had a trading volume of 1,640,951 shares, compared to its average volume of 1,422,109. Splunk has a 52 week low of $107.16 and a 52 week high of $161.49. The stock has a market cap of $25.00 billion, a PE ratio of -99.35 and a beta of 2.06. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 1.06. The business’s 50-day simple moving average is $150.57 and its 200-day simple moving average is $130.70.

Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Thursday, November 21st. The software company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. Splunk had a negative net margin of 14.24% and a negative return on equity of 11.03%. The firm had revenue of $626.00 million for the quarter, compared to analysts’ expectations of $605.20 million. During the same period last year, the firm earned $0.38 earnings per share. The business’s revenue for the quarter was up 30.1% on a year-over-year basis. As a group, equities analysts forecast that Splunk will post -0.86 earnings per share for the current fiscal year.

In related news, CAO Timothy Emanuelson sold 1,057 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $156.79, for a total transaction of $165,727.03. Following the sale, the chief accounting officer now directly owns 28,928 shares in the company, valued at $4,535,621.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Scott Morgan sold 306 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $150.00, for a total transaction of $45,900.00. Following the sale, the senior vice president now owns 50,104 shares in the company, valued at $7,515,600. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,759 shares of company stock worth $8,474,257. 0.34% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the stock. HM Payson & Co. acquired a new stake in Splunk in the 2nd quarter valued at $28,000. Quest Capital Management Inc. ADV acquired a new stake in Splunk in the 3rd quarter valued at $27,000. Assetmark Inc. increased its stake in Splunk by 102.3% in the 2nd quarter. Assetmark Inc. now owns 265 shares of the software company’s stock valued at $33,000 after buying an additional 134 shares during the last quarter. Lenox Wealth Management Inc. acquired a new stake in Splunk in the 3rd quarter valued at $31,000. Finally, Commonwealth Bank of Australia increased its stake in Splunk by 43.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 325 shares of the software company’s stock valued at $39,000 after buying an additional 98 shares during the last quarter. Institutional investors and hedge funds own 90.75% of the company’s stock.

Splunk Company Profile

Splunk, Inc engages in the development and marketing of software solutions. Its products include Splunk cloud, Splunk light, and Splunk enterprise. It also offers solutions for information technology operations, security, internet-of-things, application analytics, business analytics, and industries. The company was founded by Erik M.

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Analyst Recommendations for Splunk (NASDAQ:SPLK)

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