Splunk Inc (NASDAQ:SPLK) gapped up prior to trading on Tuesday . The stock had previously closed at $112.14, but opened at $114.82. Splunk shares last traded at $118.74, with a volume of 1,724,917 shares changing hands.

A number of equities research analysts have recently commented on SPLK shares. Wedbush reiterated an “outperform” rating and issued a $158.00 target price (down from $163.00) on shares of Splunk in a research report on Tuesday, August 20th. BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 target price on shares of Splunk in a research report on Thursday, August 22nd. Rosenblatt Securities started coverage on shares of Splunk in a research report on Monday, September 9th. They issued a “buy” rating and a $150.00 target price for the company. UBS Group reduced their target price on shares of Splunk from $165.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, Argus set a $156.00 target price on shares of Splunk and gave the company a “buy” rating in a research report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-four have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $144.38.

The company has a debt-to-equity ratio of 1.30, a current ratio of 3.06 and a quick ratio of 3.06. The stock’s fifty day moving average is $120.40 and its 200-day moving average is $126.35. The stock has a market cap of $17.20 billion, a PE ratio of -74.68 and a beta of 2.05.

Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Wednesday, August 21st. The software company reported ($0.35) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.51) by $0.16. Splunk had a negative net margin of 15.16% and a negative return on equity of 12.73%. The firm had revenue of $516.56 million during the quarter, compared to analyst estimates of $488.97 million. During the same quarter in the prior year, the firm posted $0.08 earnings per share. Splunk’s quarterly revenue was up 33.0% on a year-over-year basis. On average, sell-side analysts expect that Splunk Inc will post -0.87 EPS for the current fiscal year.

In other Splunk news, CEO Douglas Merritt sold 13,341 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $115.20, for a total transaction of $1,536,883.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Timothy Tully sold 4,391 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $115.21, for a total transaction of $505,887.11. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Cable Hill Partners LLC purchased a new position in Splunk during the first quarter worth about $25,000. Parkside Financial Bank & Trust purchased a new position in Splunk during the second quarter worth about $25,000. Motco purchased a new position in shares of Splunk in the second quarter valued at approximately $27,000. HM Payson & Co. purchased a new position in shares of Splunk in the second quarter valued at approximately $28,000. Finally, Manchester Financial Inc. purchased a new position in shares of Splunk in the second quarter valued at approximately $29,000. 91.07% of the stock is owned by institutional investors.

About Splunk (NASDAQ:SPLK)

Splunk, Inc engages in the development and marketing of software solutions. Its products include Splunk cloud, Splunk light, and Splunk enterprise. It also offers solutions for information technology operations, security, internet-of-things, application analytics, business analytics, and industries. The company was founded by Erik M.

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