Splunk Inc. (NASDAQ:SPLK)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $53.90, but opened at $54.00. Splunk shares last traded at $54.97, with a volume of 517,732 shares.

A number of equities analysts have recently issued reports on the company. Vetr downgraded Splunk from a “sell” rating to a “strong sell” rating and set a $48.68 price objective for the company. in a research report on Thursday, May 26th. Morgan Stanley raised their price objective on Splunk from $53.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, May 27th. Needham & Company LLC restated a “hold” rating on shares of Splunk in a research report on Friday, May 27th. Barclays PLC raised their price objective on Splunk from $45.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Friday, May 27th. Finally, Macquarie reaffirmed a “buy” rating on shares of Splunk in a research note on Sunday, May 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirty have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $66.26.

The firm’s 50 day moving average price is $56.41 and its 200-day moving average price is $49.62. The company’s market capitalization is $7.52 billion.

Splunk (NASDAQ:SPLK) last announced its earnings results on Thursday, May 26th. The software company reported ($0.02) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.02). The company earned $186 million during the quarter, compared to the consensus estimate of $174.12 million. Splunk’s revenue for the quarter was up 48.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.01) earnings per share. On average, equities research analysts expect that Splunk Inc. will post $0.27 earnings per share for the current year.

In other Splunk news, CMO Steven R. Sommer sold 465 shares of the firm’s stock in a transaction dated Monday, June 20th. The stock was sold at an average price of $58.51, for a total transaction of $27,207.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Leonard R. Stein sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $60.00, for a total value of $60,000.00. Following the sale, the senior vice president now directly owns 147,595 shares in the company, valued at $8,855,700. The disclosure for this sale can be found here.

Other large investors have bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Splunk by 10.3% in the fourth quarter. Vanguard Group Inc. now owns 8,887,540 shares of the software company’s stock worth $522,677,000 after buying an additional 833,059 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Splunk by 14.6% in the fourth quarter. Wells Fargo & Company MN now owns 7,573,350 shares of the software company’s stock worth $445,389,000 after buying an additional 965,815 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in Splunk during the fourth quarter worth approximately $41,769,000. GAM Holding AG boosted its stake in Splunk by 132.8% in the fourth quarter. GAM Holding AG now owns 461,527 shares of the software company’s stock worth $27,142,000 after buying an additional 263,275 shares in the last quarter. Finally, OppenheimerFunds Inc. boosted its stake in Splunk by 4.5% in the fourth quarter. OppenheimerFunds Inc. now owns 387,000 shares of the software company’s stock worth $22,759,000 after buying an additional 16,800 shares in the last quarter.

Splunk Inc is a provider of software products that allow organizations to gain real-time operational intelligence by harnessing the value of their data. The Company’s products allow users to collect, index, search, explore, monitor and analyze data regardless of format or source. The Company’s products address diverse data sets referred to as big data and are specifically tailored for machine-generated data.

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