Splunk Inc (NASDAQ:SPLK) Receives $146.01 Average PT from Brokerages

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Shares of Splunk Inc (NASDAQ:SPLK) have earned a consensus rating of “Buy” from the thirty-four ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-four have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $146.01.

A number of research analysts have recently commented on the company. BidaskClub raised Splunk from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. Piper Jaffray Companies upped their price target on Splunk to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $162.00 price target (up previously from $145.00) on shares of Splunk in a research report on Friday, March 1st. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $200.00 price target (up previously from $170.00) on shares of Splunk in a research report on Friday, March 1st. Finally, Maxim Group upped their price target on Splunk to $159.00 and gave the company a “buy” rating in a research report on Friday, March 1st.

SPLK stock traded up $2.57 during midday trading on Tuesday, hitting $121.89. The company’s stock had a trading volume of 12,820 shares, compared to its average volume of 2,587,370. The company’s 50-day moving average is $125.20. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 1.29. Splunk has a 1 year low of $83.69 and a 1 year high of $143.70. The stock has a market cap of $17.76 billion, a PE ratio of -76.71 and a beta of 2.14.

Splunk (NASDAQ:SPLK) last issued its quarterly earnings results on Thursday, May 23rd. The software company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.08). Splunk had a negative net margin of 16.31% and a negative return on equity of 14.98%. The firm had revenue of $424.90 million for the quarter, compared to analysts’ expectations of $395.92 million. During the same period in the prior year, the company earned ($0.07) EPS. The firm’s quarterly revenue was up 36.4% on a year-over-year basis. Research analysts expect that Splunk will post -0.99 earnings per share for the current year.

In other Splunk news, Director John G. Connors sold 42,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $124.10, for a total value of $5,212,200.00. Following the transaction, the director now directly owns 70,720 shares in the company, valued at approximately $8,776,352. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Timothy Tully sold 6,655 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $128.06, for a total value of $852,239.30. Following the completion of the transaction, the senior vice president now owns 127,727 shares in the company, valued at $16,356,719.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 98,174 shares of company stock worth $11,991,876. 0.36% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cable Hill Partners LLC bought a new position in Splunk in the 1st quarter worth about $25,000. Berman Capital Advisors LLC bought a new position in Splunk in the 4th quarter worth about $29,000. Trustcore Financial Services LLC bought a new position in Splunk in the 1st quarter worth about $37,000. Bessemer Group Inc. increased its stake in Splunk by 192.2% in the 4th quarter. Bessemer Group Inc. now owns 301 shares of the software company’s stock worth $32,000 after acquiring an additional 198 shares during the last quarter. Finally, Icon Wealth Partners LLC bought a new position in Splunk in the 1st quarter worth about $44,000.

About Splunk

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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Analyst Recommendations for Splunk (NASDAQ:SPLK)

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