Splunk Inc. (NASDAQ:SPLK) was downgraded by investment analysts at Guggenheim from a “buy” rating to a “neutral” rating in a report released on Tuesday.
Other equities research analysts have also issued research reports about the company. Drexel Hamilton reissued a “buy” rating and set a $85.00 price target on shares of Splunk in a research note on Wednesday, July 13th. Stifel Nicolaus boosted their price target on Splunk from $56.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, June 16th. RBC Capital Markets restated a “buy” rating and set a $70.00 price objective (up from $60.00) on shares of Splunk in a research report on Friday, August 19th. Maxim Group lifted their price objective on Splunk from $75.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, July 21st. Finally, DA Davidson restated a “buy” rating and set a $83.00 price objective on shares of Splunk in a research report on Wednesday, August 24th. Twelve research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $67.61.
Splunk (NASDAQ:SPLK) opened at 60.89 on Tuesday. The stock’s 50 day moving average price is $60.25 and its 200 day moving average price is $55.96. Splunk has a 52-week low of $29.85 and a 52-week high of $66.90. The stock’s market capitalization is $8.19 billion.
Splunk (NASDAQ:SPLK) last announced its quarterly earnings results on Thursday, August 25th. The software company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.02. The business had revenue of $212.80 million for the quarter, compared to analyst estimates of $200.52 million. Splunk had a negative return on equity of 38.45% and a negative net margin of 42.84%. The company’s quarterly revenue was up 43.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.03 EPS. On average, analysts forecast that Splunk will post $0.29 EPS for the current year.
In related news, SVP Leonard R. Stein sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $59.00, for a total transaction of $413,000.00. Following the completion of the sale, the senior vice president now directly owns 124,699 shares in the company, valued at $7,357,241. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David F. Conte sold 10,575 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $63.87, for a total transaction of $675,425.25. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of SPLK. LS Investment Advisors LLC boosted its stake 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 worth $128,000 after buying an additional 123 shares during the last quarter. Advisor Group Inc. acquired a new stake in shares of Splunk during the second quarter worth $157,000. Seven Eight Capital LLC acquired a new stake in shares of Splunk during the second quarter worth $193,000. Shelton Capital Management acquired a new stake in shares of Splunk during the second quarter worth $206,000. Finally, Pacer Advisors Inc. boosted its stake 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 worth $208,000 after buying an additional 3,492 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.
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.
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