Vetr upgraded shares of Splunk Inc. (NASDAQ:SPLK) from a buy rating to a strong-buy rating in a research report released on Wednesday. Vetr currently has $66.00 price target on the software company’s stock.
Other equities research analysts have also issued reports about the company. RBC Capital Markets restated a buy rating and set a $70.00 price target (up from $60.00) on shares of Splunk in a research report on Friday, August 19th. DA Davidson reissued a buy rating and issued a $83.00 target price on shares of Splunk in a report on Wednesday, August 24th. Drexel Hamilton reissued a buy rating and issued a $85.00 target price on shares of Splunk in a report on Tuesday, August 23rd. Stifel Nicolaus boosted their target price on Splunk from $56.00 to $62.00 and gave the stock a buy rating in a report on Thursday, June 16th. Finally, Maxim Group boosted their target price on Splunk from $75.00 to $84.00 and gave the stock a buy rating in a report on Thursday, July 21st. Eleven research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the stock. Splunk presently has a consensus rating of Buy and a consensus target price of $67.55.
Shares of Splunk (NASDAQ:SPLK) opened at 56.71 on Wednesday. The stock has a 50 day moving average of $59.16 and a 200-day moving average of $56.40. Splunk has a 12-month low of $29.85 and a 12-month high of $66.90. The firm’s market capitalization is $7.63 billion.
Splunk (NASDAQ:SPLK) last released its earnings results on Thursday, August 25th. The software company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The business earned $212.80 million during the quarter, compared to the consensus estimate of $200.52 million. Splunk had a negative net margin of 42.84% and a negative return on equity of 38.45%. The company’s revenue for the quarter was up 43.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 EPS. On average, equities research analysts predict that Splunk will post $0.29 EPS for the current fiscal year.
In other Splunk news, CFO David F. Conte sold 10,575 shares of the firm’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $63.87, for a total transaction of $675,425.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Leonard R. Stein sold 1,075 shares of the firm’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $60.00, for a total value of $64,500.00. Following the transaction, the senior vice president now owns 115,262 shares in the company, valued at $6,915,720. The disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Splunk by 4.7% in the second quarter. Vanguard Group Inc. now owns 9,693,325 shares of the software company’s stock valued at $525,184,000 after buying an additional 438,237 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of Splunk by 0.9% in the second quarter. Baillie Gifford & Co. now owns 7,750,654 shares of the software company’s stock worth $419,930,000 after buying an additional 69,890 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Splunk by 31.7% in the second quarter. JPMorgan Chase & Co. now owns 4,642,643 shares of the software company’s stock worth $251,538,000 after buying an additional 1,118,339 shares in the last quarter. Winslow Capital Management LLC increased its position in shares of Splunk by 488.5% in the second quarter. Winslow Capital Management LLC now owns 4,021,073 shares of the software company’s stock worth $217,863,000 after buying an additional 3,337,773 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of Splunk by 4.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,359,248 shares of the software company’s stock worth $182,004,000 after buying an additional 143,029 shares in the last quarter. Institutional investors own 98.28% 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.
To view Vetr’s full report, visit Vetr’s official website.
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