Zacks Investment Research upgraded shares of Splunk (NASDAQ:SPLK) from a hold rating to a buy rating in a research note issued to investors on Friday morning. They currently have $100.00 target price on the software company’s stock.

According to Zacks, “Splunk Inc. provides a software platform, which collects and indexes data and enables users to search, correlate, analyze, monitor and report on this data, all in real time. Its software is designed to help users in various roles, including IT and business professionals. Splunk Inc. is based in San Francisco, California. “

A number of other analysts have also issued reports on SPLK. Morgan Stanley lowered shares of Splunk from an overweight rating to an equal weight rating and set a $77.00 target price for the company. in a research note on Monday, October 2nd. Cowen reissued a buy rating and set a $72.00 target price on shares of Splunk in a research note on Thursday, September 28th. BMO Capital Markets reissued a buy rating and set a $71.00 target price on shares of Splunk in a research note on Wednesday, September 27th. Robert W. Baird set a $75.00 target price on shares of Splunk and gave the company a buy rating in a research note on Sunday, October 1st. Finally, UBS Group set a $80.00 price objective on shares of Splunk and gave the stock a buy rating in a research note on Friday, November 17th. One investment analyst has rated the stock with a sell rating, seven have issued 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 $84.29.

Shares of Splunk (SPLK) traded down $1.49 on Friday, hitting $89.94. 1,212,400 shares of the stock were exchanged, compared to its average volume of 1,487,369. The stock has a market capitalization of $12,720.00, a price-to-earnings ratio of -40.33 and a beta of 2.07. Splunk has a 1 year low of $52.89 and a 1 year high of $92.10.

Splunk (NASDAQ:SPLK) last issued its earnings results on Thursday, November 16th. The software company reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.59. The firm had revenue of $328.65 million during the quarter, compared to analyst estimates of $309.01 million. Splunk had a negative net margin of 32.72% and a negative return on equity of 72.06%. sell-side analysts predict that Splunk will post -1.3 earnings per share for the current fiscal year.

In other news, insider Ledger Susan St. sold 10,316 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $70.17, for a total transaction of $723,873.72. Following the transaction, the insider now owns 253,102 shares in the company, valued at $17,760,167.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Leonard R. Stein sold 4,851 shares of the company’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $80.54, for a total transaction of $390,699.54. Following the transaction, the senior vice president now owns 89,157 shares in the company, valued at approximately $7,180,704.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 201,036 shares of company stock valued at $14,132,192. Insiders own 1.43% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of SPLK. Comerica Bank increased its holdings in shares of Splunk by 26.3% during the second quarter. Comerica Bank now owns 8,433 shares of the software company’s stock valued at $517,000 after acquiring an additional 1,754 shares in the last quarter. Prudential Financial Inc. increased its holdings in shares of Splunk by 2.9% during the second quarter. Prudential Financial Inc. now owns 7,140 shares of the software company’s stock valued at $406,000 after acquiring an additional 200 shares in the last quarter. TIAA CREF Investment Management LLC increased its holdings in shares of Splunk by 2.7% during the second quarter. TIAA CREF Investment Management LLC now owns 345,568 shares of the software company’s stock valued at $19,659,000 after acquiring an additional 9,113 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Splunk by 2.1% during the second quarter. BlackRock Inc. now owns 7,075,105 shares of the software company’s stock valued at $402,503,000 after acquiring an additional 143,138 shares in the last quarter. Finally, Amalgamated Bank increased its holdings in shares of Splunk by 35.5% during the second quarter. Amalgamated Bank now owns 25,921 shares of the software company’s stock valued at $1,475,000 after acquiring an additional 6,792 shares in the last quarter.

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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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