Splunk’s (SPLK) “Overweight” Rating Reaffirmed at JPMorgan Chase & Co.
Other equities analysts also recently issued reports about the stock. RBC Capital Markets restated a buy rating and set a $70.00 price objective (up from $60.00) on shares of Splunk in a research note on Friday, August 19th. DA Davidson reiterated a buy rating and issued a $83.00 target price on shares of Splunk in a research note on Wednesday, August 24th. Drexel Hamilton reiterated a buy rating and issued a $85.00 target price on shares of Splunk in a research note on Tuesday, August 23rd. Maxim Group raised their target price on shares of Splunk from $75.00 to $84.00 and gave the company a buy rating in a research note on Thursday, July 21st. Finally, Stifel Nicolaus raised their target price on shares of Splunk from $56.00 to $62.00 and gave the company a buy rating in a research note on Thursday, June 16th. Eleven investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. Splunk currently has a consensus rating of Buy and a consensus price target of $67.55.
Shares of Splunk (NASDAQ:SPLK) traded down 0.53% during midday trading on Friday, reaching $56.41. 517,966 shares of the company traded hands. Splunk has a 1-year low of $29.85 and a 1-year high of $66.90. The stock has a 50 day moving average price of $59.16 and a 200 day moving average price of $56.40. The firm’s market capitalization is $7.59 billion.
Splunk (NASDAQ:SPLK) last posted its quarterly earnings data on Thursday, August 25th. The software company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.02. Splunk had a negative net margin of 42.84% and a negative return on equity of 38.45%. The company earned $212.80 million during the quarter, compared to the consensus estimate of $200.52 million. During the same period in the prior year, the business posted $0.03 EPS. The company’s quarterly revenue was up 43.5% on a year-over-year basis. Analysts expect that Splunk will post $0.29 earnings per share for the current fiscal year.
In other news, SVP Steven R. Sommer sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $63.80, for a total transaction of $319,000.00. Following the completion of the sale, the senior vice president now directly owns 212,527 shares of the company’s stock, valued at $13,559,222.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO David F. Conte sold 10,575 shares of the business’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $63.87, for a total transaction of $675,425.25. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of SPLK. Winslow Capital Management LLC increased its stake in Splunk by 488.5% in the second quarter. Winslow Capital Management LLC now owns 4,021,073 shares of the software company’s stock valued at $217,863,000 after buying an additional 3,337,773 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Splunk during the first quarter valued at approximately $93,277,000. JPMorgan Chase & Co. increased its stake in Splunk by 31.7% in the second quarter. JPMorgan Chase & Co. now owns 4,642,643 shares of the software company’s stock valued at $251,538,000 after buying an additional 1,118,339 shares during the last quarter. Fiera Capital Corp acquired a new stake in Splunk during the second quarter valued at approximately $46,849,000. Finally, 1832 Asset Management L.P. acquired a new stake in Splunk during the second quarter valued at approximately $60,529,000. 98.28% of the stock is owned by institutional investors.
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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