Zacks Investment Research upgraded shares of Splunk (NASDAQ:SPLK) from a hold rating to a buy rating in a research report report published on Friday. Zacks Investment Research currently has $100.00 price objective on the software company’s stock.
According to Zacks, “Splunk Inc. provides a software platform, which collects and indexes data and enables users to search, correlate, analyze, monitor and report on this data, all in real time. Its software is designed to help users in various roles, including IT and business professionals. Splunk Inc. is based in San Francisco, California. “
Several other research analysts have also weighed in on the company. Deutsche Bank lifted their price objective on Splunk to $100.00 and gave the stock a buy rating in a research report on Monday, January 15th. Barclays raised Splunk from an equal weight rating to an overweight rating and lifted their price objective for the stock from $80.00 to $105.00 in a research report on Monday, January 8th. Robert W. Baird lifted their price objective on Splunk from $85.00 to $90.00 and gave the stock an outperform rating in a research report on Monday, December 18th. Citigroup reissued a hold rating and issued a $73.00 price objective on shares of Splunk in a research report on Monday, November 27th. Finally, Bank of America lifted their price objective on Splunk from $80.00 to $95.00 and gave the stock a buy rating in a research report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $84.29.
Splunk (NASDAQ:SPLK) last announced its earnings results on Thursday, November 16th. The software company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.42) by $0.59. The business had revenue of $328.65 million during the quarter, compared to analyst estimates of $309.01 million. Splunk had a negative return on equity of 72.06% and a negative net margin of 32.72%. research analysts predict that Splunk will post -1.3 EPS for the current year.
In other Splunk news, insider Ledger Susan St. sold 10,316 shares of Splunk stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $70.17, for a total transaction of $723,873.72. Following the transaction, the insider now owns 253,102 shares of the company’s stock, valued at approximately $17,760,167.34. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Godfrey Sullivan sold 8,750 shares of Splunk stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $81.29, for a total transaction of $711,287.50. Following the transaction, the director now directly owns 207,239 shares in the company, valued at approximately $16,846,458.31. The disclosure for this sale can be found here. In the last three months, insiders have sold 201,036 shares of company stock worth $14,132,192. Insiders own 1.43% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Zions Bancorporation bought a new position in shares of Splunk during the 3rd quarter worth approximately $591,000. Royal Bank of Canada raised its holdings in shares of Splunk by 13.5% in the 2nd quarter. Royal Bank of Canada now owns 52,243 shares of the software company’s stock worth $2,972,000 after purchasing an additional 6,212 shares during the period. Motley Fool Asset Management LLC raised its holdings in shares of Splunk by 8.4% in the 3rd quarter. Motley Fool Asset Management LLC now owns 167,500 shares of the software company’s stock worth $11,127,000 after purchasing an additional 13,000 shares during the period. Advisor Group Inc. raised its holdings in shares of Splunk by 51.4% in the 3rd quarter. Advisor Group Inc. now owns 6,126 shares of the software company’s stock worth $406,000 after purchasing an additional 2,080 shares during the period. Finally, Sit Investment Associates Inc. raised its holdings in shares of Splunk by 23.4% in the 3rd quarter. Sit Investment Associates Inc. now owns 24,275 shares of the software company’s stock worth $1,613,000 after purchasing an additional 4,600 shares during the period.
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Splunk Company Profile
Splunk Inc (Splunk) is engaged in the development and marketing of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. Its offerings address diverse data sets that are referred to as big data and are specifically used for machine data.
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