Jefferies Group LLC Reaffirms “Buy” Rating for Splunk Inc. (SPLK)
Jefferies Group LLC reissued their buy rating on shares of Splunk Inc. (NASDAQ:SPLK) in a report published on Friday, The Fly reports. The firm currently has a $88.00 price target on the software company’s stock.
SPLK has been the subject of several other reports. Zacks Investment Research raised Splunk from a hold rating to a buy rating and set a $74.00 target price for the company in a research report on Wednesday, October 4th. Royal Bank Of Canada reaffirmed a buy rating and set a $75.00 target price on shares of Splunk in a research report on Monday, July 31st. Needham & Company LLC assumed coverage on Splunk in a research report on Monday, October 23rd. They set a buy rating and a $95.00 target price for the company. Drexel Hamilton reaffirmed a buy rating and set a $93.00 target price on shares of Splunk in a research report on Thursday, November 16th. Finally, Mitsubishi UFJ Financial Group reaffirmed a buy rating and set a $75.00 target price on shares of Splunk in a research report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-nine have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $81.61.
Splunk (NASDAQ SPLK) opened at $81.35 on Friday. Splunk has a 12 month low of $50.64 and a 12 month high of $81.99.
Splunk (NASDAQ:SPLK) last announced its quarterly earnings results on Thursday, November 16th. The software company reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.59. Splunk had a negative return on equity of 71.89% and a negative net margin of 32.72%. The company had revenue of $328.65 million during the quarter, compared to analysts’ expectations of $309.01 million. sell-side analysts forecast that Splunk will post -1.43 EPS for the current fiscal year.
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In other Splunk news, Director Godfrey Sullivan sold 40,000 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $68.62, for a total transaction of $2,744,800.00. Following the sale, the director now owns 585,790 shares of the company’s stock, valued at approximately $40,196,909.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas M. Neustaetter sold 3,614 shares of the business’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $67.70, for a total transaction of $244,667.80. Following the sale, the director now directly owns 12,871 shares in the company, valued at approximately $871,366.70. The disclosure for this sale can be found here. Insiders sold a total of 599,197 shares of company stock worth $40,200,725 in the last ninety days. 1.43% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP raised its holdings in Splunk by 189.2% during the 3rd quarter. GSA Capital Partners LLP now owns 14,417 shares of the software company’s stock valued at $958,000 after acquiring an additional 9,432 shares during the period. Moors & Cabot Inc. bought a new stake in Splunk during the 3rd quarter valued at $532,000. IFM Investors Pty Ltd bought a new stake in Splunk during the 3rd quarter valued at $300,000. California Public Employees Retirement System raised its holdings in Splunk by 5.7% during the 3rd quarter. California Public Employees Retirement System now owns 224,190 shares of the software company’s stock valued at $14,893,000 after acquiring an additional 11,990 shares during the period. Finally, Bamco Inc. NY raised its holdings in Splunk by 6.0% during the 3rd quarter. Bamco Inc. NY now owns 54,844 shares of the software company’s stock valued at $3,643,000 after acquiring an additional 3,112 shares during the period.
Splunk Company Profile
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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