Vetr lowered shares of Splunk Inc. (NASDAQ:SPLK) from a strong-buy rating to a buy rating in a report published on Wednesday morning. The brokerage currently has $66.00 price objective on the software company’s stock.
A number of other equities analysts have also recently weighed in on the company. Mizuho began coverage on Splunk in a research note on Wednesday, September 21st. They issued a neutral rating and a $60.00 price target on the stock. Summit Redstone set a $72.00 price target on Splunk and gave the stock a buy rating in a research note on Monday, September 19th. Oppenheimer Holdings Inc. reissued an outperform rating and issued a $80.00 price target on shares of Splunk in a research note on Monday, August 29th. Drexel Hamilton reissued a buy rating and issued a $90.00 price target (up previously from $85.00) on shares of Splunk in a research note on Monday, August 29th. Finally, Wedbush reissued an outperform rating and issued a $72.00 price target (up previously from $70.00) on shares of Splunk in a research note on Sunday, August 28th. Eleven equities research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $67.48.
Splunk (NASDAQ:SPLK) opened at 58.15 on Wednesday. Splunk has a 1-year low of $29.85 and a 1-year high of $66.90. The stock’s 50 day moving average is $61.06 and its 200-day moving average is $55.19. The firm’s market capitalization is $7.82 billion.
Splunk (NASDAQ:SPLK) last issued its quarterly earnings results on Thursday, August 25th. The software company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.02. The firm had revenue of $212.80 million for the quarter, compared to analysts’ expectations of $200.52 million. Splunk had a negative return on equity of 38.45% and a negative net margin of 42.84%. Splunk’s revenue was up 43.5% on a year-over-year basis. During the same quarter last year, the business posted $0.03 EPS. Equities research analysts forecast that Splunk will post $0.29 EPS for the current year.
In other news, SVP Leonard R. Stein sold 7,000 shares of the company’s stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $59.00, for a total transaction of $413,000.00. Following the transaction, the senior vice president now owns 124,699 shares of the company’s stock, valued at $7,357,241. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David F. Conte sold 10,575 shares of the company’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $63.87, for a total value of $675,425.25. The disclosure for this sale can be found here. 3.00% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the stock. LS Investment Advisors LLC raised its position in shares of Splunk by 5.5% in the second quarter. LS Investment Advisors LLC now owns 2,367 shares of the software company’s stock valued at $128,000 after buying an additional 123 shares during the period. Advisor Group Inc. purchased a new position in shares of Splunk during the second quarter valued at about $157,000. Seven Eight Capital LLC purchased a new position in shares of Splunk during the second quarter valued at about $193,000. Shelton Capital Management purchased a new position in shares of Splunk during the second quarter valued at about $206,000. Finally, Pacer Advisors Inc. raised its position in shares of Splunk by 986.4% in the second quarter. Pacer Advisors Inc. now owns 3,846 shares of the software company’s stock valued at $208,000 after buying an additional 3,492 shares during the period. 99.57% of the stock is currently owned by institutional investors and hedge funds.
Splunk Inc is a provider of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. It operates through the development and marketing of software solutions segment, which enables its customers to gain real-time operational intelligence by harnessing the value of their data.
To view Vetr’s full report, visit Vetr’s official website.
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