Splunk Inc. (SPLK) Now Covered by Mizuho
Mizuho initiated coverage on shares of Splunk Inc. (NASDAQ:SPLK) in a report released on Wednesday. The brokerage set a “neutral” rating and a $60.00 price target on the software company’s stock. Mizuho’s price target points to a potential upside of 1.47% from the stock’s current price.
SPLK has been the topic of a number of other reports. Drexel Hamilton restated a “buy” rating and issued a $90.00 price objective (up from $85.00) on shares of Splunk in a report on Monday, August 29th. Summit Redstone set a $72.00 target price on Splunk and gave the company a “buy” rating in a research note on Monday. RBC Capital Markets reiterated a “buy” rating and issued a $70.00 target price (up previously from $60.00) on shares of Splunk in a research note on Friday, August 19th. Wedbush reiterated an “outperform” rating and issued a $70.00 target price (up previously from $60.00) on shares of Splunk in a research note on Friday, August 19th. Finally, Citigroup Inc. increased their target price on Splunk from $62.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, August 26th. Eleven equities research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $68.15.
Shares of Splunk (NASDAQ:SPLK) opened at 59.13 on Wednesday. The stock’s market cap is $7.96 billion. Splunk has a 52 week low of $29.85 and a 52 week high of $66.90. The firm has a 50-day moving average price of $61.11 and a 200-day moving average price of $55.11.
Splunk (NASDAQ:SPLK) last released its quarterly earnings data on Thursday, August 25th. The software company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $212.80 million for the quarter, compared to the consensus estimate of $200.52 million. Splunk had a negative return on equity of 38.45% and a negative net margin of 42.84%. The company’s quarterly revenue was up 43.5% compared to the same quarter last year. During the same period last year, the business posted $0.03 EPS. On average, analysts forecast that Splunk will post $0.29 earnings per share for the current fiscal year.
In other news, CMO Steven R. Sommer sold 5,000 shares of Splunk stock in a transaction on Monday, July 18th. The stock was sold at an average price of $58.66, for a total transaction of $293,300.00. Following the transaction, the chief marketing officer now owns 220,127 shares in the company, valued at $12,912,649.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Godfrey Sullivan sold 40,000 shares of Splunk stock in a transaction on Monday, July 11th. The shares were sold at an average price of $57.47, for a total value of $2,298,800.00. Following the transaction, the director now owns 505,426 shares in the company, valued at approximately $29,046,832.22. The disclosure for this sale can be found here. 3.00% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. LS Investment Advisors LLC increased its position in shares of Splunk by 5.5% in the second quarter. LS Investment Advisors LLC now owns 2,367 shares of the software company’s stock worth $128,000 after buying an additional 123 shares in the last quarter. Advisor Group Inc. acquired a new position in shares of Splunk during the second quarter worth $157,000. Seven Eight Capital LLC acquired a new position in shares of Splunk during the second quarter worth $193,000. Shelton Capital Management acquired a new position in shares of Splunk during the second quarter worth $206,000. Finally, Pacer Advisors Inc. increased its position in shares of Splunk by 986.4% in the second quarter. Pacer Advisors Inc. now owns 3,846 shares of the software company’s stock worth $208,000 after buying an additional 3,492 shares in the last quarter. Institutional investors and hedge funds own 99.57% of the company’s stock.
Splunk Inc is a provider of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. It operates through the development and marketing of software solutions segment, which enables its customers to gain real-time operational intelligence by harnessing the value of their data.
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