Splunk (NASDAQ:SPLK) Price Target Cut to $142.00

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Splunk (NASDAQ:SPLK) had its price target cut by Barclays from $158.00 to $142.00 in a research note published on Friday morning, BenzingaRatingsTable reports. They currently have an overweight rating on the software company’s stock.

A number of other equities research analysts have also issued reports on SPLK. BMO Capital Markets reaffirmed an outperform rating and set a $155.00 target price on shares of Splunk in a research report on Thursday, August 22nd. Needham & Company LLC cut their target price on Splunk from $165.00 to $160.00 and set a buy rating on the stock in a research report on Thursday, August 22nd. Mitsubishi UFJ Financial Group boosted their target price on Splunk to $159.00 and gave the stock an overweight rating in a research report on Friday, May 24th. Maxim Group set a $148.00 target price on Splunk and gave the stock a buy rating in a research report on Thursday, September 5th. Finally, Northland Securities reaffirmed a buy rating and set a $160.00 target price on shares of Splunk in a research report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $144.87.

SPLK opened at $113.65 on Friday. Splunk has a one year low of $83.69 and a one year high of $143.70. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.06 and a current ratio of 3.06. The stock’s fifty day moving average is $122.45 and its 200-day moving average is $126.77. The company has a market capitalization of $17.24 billion, a PE ratio of -71.48 and a beta of 2.04.

Splunk (NASDAQ:SPLK) last posted its quarterly earnings data on Wednesday, August 21st. The software company reported ($0.35) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.51) by $0.16. Splunk had a negative return on equity of 12.73% and a negative net margin of 15.16%. The company had revenue of $516.56 million for the quarter, compared to the consensus estimate of $488.97 million. During the same quarter in the previous year, the business earned $0.08 EPS. The company’s quarterly revenue was up 33.0% compared to the same quarter last year. On average, equities research analysts forecast that Splunk will post -0.87 EPS for the current fiscal year.

In other Splunk news, SVP Timothy Tully sold 4,391 shares of Splunk stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $115.21, for a total value of $505,887.11. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Douglas Merritt sold 13,341 shares of Splunk stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $115.20, for a total value of $1,536,883.20. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cable Hill Partners LLC bought a new position in shares of Splunk in the 1st quarter valued at about $25,000. Parkside Financial Bank & Trust bought a new position in shares of Splunk in the 2nd quarter valued at about $25,000. Motco bought a new position in shares of Splunk in the 2nd quarter valued at about $27,000. HM Payson & Co. bought a new position in shares of Splunk in the 2nd quarter valued at about $28,000. Finally, Manchester Financial Inc. bought a new position in shares of Splunk in the 2nd quarter valued at about $29,000. Institutional investors own 92.16% of the company’s stock.

Splunk Company Profile

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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