A number of other brokerages have also commented on SPLK. Royal Bank Of Canada raised their price objective on Splunk from $70.00 to $75.00 and gave the stock an outperform rating in a research report on Tuesday, May 23rd. Wedbush restated an outperform rating and set a $78.00 price objective on shares of Splunk in a research report on Monday, May 22nd. Zacks Investment Research lowered Splunk from a buy rating to a hold rating in a research report on Thursday, April 27th. Susquehanna Bancshares Inc assumed coverage on Splunk in a research report on Wednesday, June 7th. They set a neutral rating and a $68.00 price objective for the company. Finally, MKM Partners restated a neutral rating and set a $63.00 price objective (up from $60.00) on shares of Splunk in a research report on Tuesday, May 30th. Twelve analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $70.77.
Shares of Splunk (NASDAQ:SPLK) opened at 58.83 on Tuesday. The stock’s market capitalization is $8.14 billion. The company has a 50 day moving average of $59.29 and a 200 day moving average of $61.37. Splunk has a 52-week low of $50.64 and a 52-week high of $69.23.
Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Thursday, May 25th. The software company reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.03. Splunk had a negative return on equity of 40.82% and a negative net margin of 35.19%. The firm had revenue of $242.40 million during the quarter, compared to analyst estimates of $233.79 million. During the same period last year, the company posted ($0.02) EPS. The business’s quarterly revenue was up 30.4% compared to the same quarter last year. Analysts predict that Splunk will post $0.52 EPS for the current fiscal year.
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In other news, Director Godfrey Sullivan sold 128,750 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $57.58, for a total transaction of $7,413,425.00. Following the sale, the director now directly owns 843,290 shares in the company, valued at $48,556,638.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Leonard R. Stein sold 4,851 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $58.20, for a total value of $282,328.20. Following the sale, the senior vice president now owns 103,909 shares in the company, valued at $6,047,503.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 558,056 shares of company stock worth $32,554,124. 3.00% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Splunk by 5,553.3% in the first quarter. BlackRock Inc. now owns 6,931,967 shares of the software company’s stock worth $431,791,000 after buying an additional 6,809,349 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Splunk by 2,492.5% in the first quarter. Wellington Management Group LLP now owns 1,350,153 shares of the software company’s stock valued at $84,102,000 after buying an additional 1,298,074 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Splunk by 40.1% in the second quarter. Bank of New York Mellon Corp now owns 3,942,003 shares of the software company’s stock valued at $224,259,000 after buying an additional 1,128,410 shares in the last quarter. Harbour Capital Advisors LLC raised its stake in shares of Splunk by 6,237.5% in the second quarter. Harbour Capital Advisors LLC now owns 1,061,852 shares of the software company’s stock valued at $18,665,000 after buying an additional 1,045,097 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its stake in shares of Splunk by 113.8% in the first quarter. Pictet Asset Management Ltd. now owns 1,510,716 shares of the software company’s stock valued at $94,103,000 after buying an additional 804,201 shares in the last quarter.
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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