Splunk (NASDAQ:SPLK) had its target price boosted by JPMorgan Chase & Co. from $130.00 to $140.00 in a report issued on Tuesday morning, The Fly reports. They currently have an overweight rating on the software company’s stock.
A number of other brokerages have also issued reports on SPLK. Needham & Company LLC cut their target price on Splunk from $165.00 to $160.00 and set a buy rating on the stock in a research report on Thursday, August 22nd. Goldman Sachs Group boosted their target price on Splunk from $131.00 to $119.00 and gave the company a neutral rating in a research report on Thursday, August 22nd. Citigroup cut their target price on Splunk from $106.00 to $102.00 and set a sell rating on the stock in a research report on Friday, August 23rd. Wedbush reissued an outperform rating and issued a $158.00 target price (down previously from $163.00) on shares of Splunk in a research report on Tuesday, August 20th. Finally, BidaskClub lowered Splunk from a buy rating to a hold rating in a research report on Saturday, October 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $148.76.
SPLK stock opened at $125.03 on Tuesday. The firm has a market cap of $18.67 billion, a PE ratio of -78.64 and a beta of 2.03. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.06 and a current ratio of 3.06. The firm’s 50 day moving average price is $118.92 and its 200-day moving average price is $123.96. Splunk has a one year low of $83.69 and a one year high of $143.70.
Splunk (NASDAQ:SPLK) last announced its earnings results on Wednesday, August 21st. The software company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.16. The company had revenue of $516.56 million for the quarter, compared to analyst estimates of $488.97 million. Splunk had a negative return on equity of 12.73% and a negative net margin of 15.16%. The firm’s quarterly revenue was up 33.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.08 earnings per share. Equities research analysts predict that Splunk will post -0.88 EPS for the current fiscal year.
In other Splunk news, SVP Timothy Tully sold 4,391 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $115.21, for a total value of $505,887.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Timothy Emanuelson sold 529 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $120.46, for a total transaction of $63,723.34. Following the completion of the transaction, the chief accounting officer now owns 27,394 shares of the company’s stock, valued at approximately $3,299,881.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,261 shares of company stock valued at $2,106,494. Insiders own 0.34% of the company’s stock.
Several large investors have recently bought and sold shares of SPLK. World Asset Management Inc grew its stake in shares of Splunk by 1.6% during the second quarter. World Asset Management Inc now owns 4,937 shares of the software company’s stock worth $621,000 after purchasing an additional 80 shares in the last quarter. First Citizens Bank & Trust Co. raised its holdings in shares of Splunk by 0.7% in the second quarter. First Citizens Bank & Trust Co. now owns 13,230 shares of the software company’s stock valued at $1,664,000 after buying an additional 91 shares during the last quarter. FDx Advisors Inc. raised its holdings in shares of Splunk by 5.4% in the second quarter. FDx Advisors Inc. now owns 1,860 shares of the software company’s stock valued at $234,000 after buying an additional 95 shares during the last quarter. Abbrea Capital LLC raised its holdings in shares of Splunk by 1.5% in the second quarter. Abbrea Capital LLC now owns 6,325 shares of the software company’s stock valued at $795,000 after buying an additional 95 shares during the last quarter. Finally, Commonwealth Bank of Australia raised its holdings in shares of Splunk by 43.2% in the second 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 91.13% of the company’s stock.
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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