Splunk Inc. (SPLK) Given New $95.00 Price Target at BTIG Research
Splunk Inc. (NASDAQ:SPLK) had its price target raised by BTIG Research from $80.00 to $95.00 in a research report sent to investors on Friday. BTIG Research currently has a buy rating on the software company’s stock.
A number of other equities analysts have also weighed in on SPLK. KeyCorp reiterated a buy rating on shares of Splunk in a report on Friday, October 27th. ValuEngine lowered shares of Splunk from a hold rating to a sell rating in a report on Wednesday, October 11th. Maxim Group reiterated a buy rating and issued a $79.00 price target on shares of Splunk in a report on Friday, October 27th. Credit Suisse Group started coverage on shares of Splunk in a report on Tuesday, September 5th. They issued an outperform rating and a $80.00 price target on the stock. Finally, Needham & Company LLC started coverage on shares of Splunk in a report on Monday, October 23rd. They issued a buy rating and a $95.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirty have given a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $80.92.
Shares of Splunk (NASDAQ SPLK) traded up $12.40 during trading on Friday, reaching $81.70. 13,198,619 shares of the company’s stock were exchanged, compared to its average volume of 1,627,646. Splunk has a 12 month low of $50.64 and a 12 month high of $81.99.
Splunk (NASDAQ:SPLK) last released its quarterly earnings results on Thursday, November 16th. The software company reported $0.17 EPS for the quarter, beating the consensus estimate of ($0.42) by $0.59. Splunk had a negative net margin of 36.81% and a negative return on equity of 75.81%. The business had revenue of $328.65 million for the quarter, compared to analyst estimates of $309.01 million. equities research analysts anticipate that Splunk will post -1.47 EPS for the current year.
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In other Splunk news, Director Godfrey Sullivan sold 120,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $68.22, for a total transaction of $8,186,400.00. Following the completion of the transaction, the director now directly owns 585,790 shares of the company’s stock, valued at approximately $39,962,593.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David F. Conte sold 10,525 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $66.03, for a total transaction of $694,965.75. The disclosure for this sale can be found here. Insiders sold a total of 599,197 shares of company stock valued at $40,200,725 over the last ninety days. Company insiders own 1.43% of the company’s stock.
A number of institutional investors have recently bought and sold shares of SPLK. Carmignac Gestion acquired a new position in Splunk during the 3rd quarter valued at about $198,193,000. Bank of New York Mellon Corp boosted its stake in Splunk by 40.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,942,003 shares of the software company’s stock valued at $224,259,000 after purchasing an additional 1,128,410 shares during the period. Harbour Capital Advisors LLC boosted its stake in Splunk by 6,237.5% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,061,852 shares of the software company’s stock valued at $18,665,000 after purchasing an additional 1,045,097 shares during the period. ETF Managers Group LLC acquired a new position in Splunk during the 2nd quarter valued at about $39,864,000. Finally, Vanguard Group Inc. boosted its stake in Splunk by 5.1% during the 2nd quarter. Vanguard Group Inc. now owns 11,347,936 shares of the software company’s stock valued at $645,584,000 after purchasing an additional 546,338 shares during the period.
Splunk Inc (Splunk) is engaged in the development and marketing of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. Its offerings address diverse data sets that are referred to as big data and are specifically used for machine data.
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