Splunk (NASDAQ:SPLK) has been given a consensus recommendation of “Buy” by the thirty-eight research firms that are presently covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation, thirty-one have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $101.42.

A number of research analysts recently commented on the company. Zacks Investment Research raised Splunk from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 13th. BidaskClub raised shares of Splunk from a “buy” rating to a “strong-buy” rating in a research note on Friday. Argus raised shares of Splunk from a “hold” rating to a “buy” rating in a research note on Thursday, March 8th. They noted that the move was a valuation call. Stephens reissued a “buy” rating and issued a $115.00 price target on shares of Splunk in a research note on Friday, March 2nd. Finally, Bank of America increased their price target on shares of Splunk from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, March 2nd.

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SPLK traded up $3.12 during trading on Thursday, reaching $106.98. The stock had a trading volume of 760,197 shares, compared to its average volume of 1,851,801. The stock has a market cap of $15,001.11, a PE ratio of -81.47 and a beta of 1.84. Splunk has a one year low of $54.17 and a one year high of $112.66.

Splunk (NASDAQ:SPLK) last released its earnings results on Thursday, March 1st. The software company reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.04. The business had revenue of $419.70 million for the quarter, compared to analysts’ expectations of $390.79 million. Splunk had a negative return on equity of 31.42% and a negative net margin of 20.39%. The firm’s revenue was up 37.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share. equities research analysts predict that Splunk will post -1.14 EPS for the current year.

In other news, Director Godfrey Sullivan sold 8,750 shares of Splunk stock in a transaction on Monday, March 12th. The shares were sold at an average price of $107.60, for a total transaction of $941,500.00. Following the transaction, the director now owns 161,700 shares in the company, valued at approximately $17,398,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David F. Conte sold 12,969 shares of Splunk stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $107.62, for a total transaction of $1,395,723.78. Following the transaction, the chief financial officer now owns 106,582 shares in the company, valued at approximately $11,470,354.84. The disclosure for this sale can be found here. Insiders sold 163,912 shares of company stock worth $16,716,531 in the last 90 days. 1.43% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of SPLK. Penserra Capital Management LLC increased its holdings in shares of Splunk by 18.6% in the 4th quarter. Penserra Capital Management LLC now owns 4,060 shares of the software company’s stock worth $336,000 after buying an additional 638 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Splunk by 7.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 10,473 shares of the software company’s stock worth $866,000 after acquiring an additional 698 shares during the period. LPL Financial LLC increased its stake in shares of Splunk by 2.2% in the fourth quarter. LPL Financial LLC now owns 45,990 shares of the software company’s stock worth $3,809,000 after acquiring an additional 1,008 shares during the period. Gradient Investments LLC increased its stake in shares of Splunk by 19.7% in the fourth quarter. Gradient Investments LLC now owns 6,650 shares of the software company’s stock worth $551,000 after acquiring an additional 1,096 shares during the period. Finally, State of Wisconsin Investment Board increased its stake in shares of Splunk by 0.8% in the fourth quarter. State of Wisconsin Investment Board now owns 144,005 shares of the software company’s stock worth $11,929,000 after acquiring an additional 1,191 shares during the period. Institutional investors and hedge funds own 99.37% of the company’s stock.

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About Splunk

Splunk Inc provides software solutions that enable organizations to gain real-time operational intelligence in the United States and internationally. The company's products enable users to collect, index, search, explore, monitor, and analyze data regardless of format or source. It offers Splunk Enterprise, a machine data platform with collection, indexing, search, reporting, analysis, alerting, monitoring, and data management capabilities; and Splunk Cloud service.

Analyst Recommendations for Splunk (NASDAQ:SPLK)

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