Splunk Inc. (SPLK) PT Set at $65.00 by Piper Jaffray Companies
Splunk Inc. (NASDAQ:SPLK) has been assigned a $65.00 price objective by investment analysts at Piper Jaffray Companies in a report released on Friday. The brokerage presently has a “buy” rating on the software company’s stock. Piper Jaffray Companies’ price target would suggest a potential upside of 15.39% from the company’s current price.
Other research analysts have also recently issued reports about the company. Jefferies Group reissued a “buy” rating and set a $81.00 price objective on shares of Splunk in a report on Friday. Wells Fargo & Company started coverage on Splunk in a report on Wednesday. They set an “outperform” rating for the company. RBC Capital Markets reissued an “outperform” rating and set a $70.00 price objective on shares of Splunk in a report on Wednesday. William Blair reissued an “outperform” rating on shares of Splunk in a report on Tuesday. Finally, Wedbush reissued a “buy” rating and set a $75.00 price objective on shares of Splunk in a report on Tuesday. Ten research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $68.30.
Shares of Splunk (NASDAQ:SPLK) traded down 0.64% during midday trading on Friday, reaching $55.97. 1,819,608 shares of the company’s stock were exchanged. Splunk has a 1-year low of $29.85 and a 1-year high of $65.75. The company’s market capitalization is $7.59 billion. The firm has a 50-day moving average of $55.41 and a 200-day moving average of $58.46.
Splunk (NASDAQ:SPLK) last issued its earnings results on Tuesday, November 29th. The software company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.08 by $0.04. The firm earned $245 million during the quarter. Splunk had a negative return on equity of 41.28% and a negative net margin of 41.72%. The firm’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period last year, the business earned $0.05 earnings per share. Equities analysts expect that Splunk will post $0.32 earnings per share for the current fiscal year.
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In other Splunk news, Director Godfrey Sullivan sold 40,000 shares of the company’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $59.48, for a total value of $2,379,200.00. Following the transaction, the director now directly owns 291,676 shares of the company’s stock, valued at approximately $17,348,888.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Leonard R. Stein sold 15,000 shares of the company’s stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $53.22, for a total value of $798,300.00. Following the completion of the transaction, the senior vice president now directly owns 97,249 shares in the company, valued at $5,175,591.78. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of SPLK. LS Investment Advisors LLC raised 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. purchased a new position in shares of Splunk during the second quarter worth approximately $157,000. Seven Eight Capital LLC purchased a new position in shares of Splunk during the second quarter worth approximately $193,000. Mn Services Vermogensbeheer B.V. raised its position in shares of Splunk by 5.5% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 3,397 shares of the software company’s stock worth $199,000 after buying an additional 177 shares in the last quarter. Finally, Pacer Advisors Inc. raised 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. 97.75% of the stock is currently owned by hedge funds and other 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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