Splunk Inc. (NASDAQ:SPLK) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Wednesday.
A number of other research analysts have also commented on the company. Zacks Investment Research upgraded Splunk from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a report on Wednesday, October 4th. Robert W. Baird set a $75.00 price target on Splunk and gave the stock a “buy” rating in a report on Sunday, October 1st. Morgan Stanley lowered Splunk from an “overweight” rating to an “equal weight” rating and set a $77.00 price target for the company. in a report on Monday, October 2nd. Cowen and Company reiterated a “buy” rating and set a $72.00 price target on shares of Splunk in a report on Thursday, September 28th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $71.00 price target on shares of Splunk in a report on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-seven have assigned a buy rating to the company. Splunk has an average rating of “Buy” and an average price target of $73.06.
Shares of Splunk (NASDAQ:SPLK) opened at 63.49 on Wednesday. The stock’s 50 day moving average is $66.60 and its 200-day moving average is $62.57. The firm’s market cap is $8.89 billion. Splunk has a 52-week low of $50.64 and a 52-week high of $69.61.
Splunk (NASDAQ:SPLK) last issued its quarterly earnings results on Thursday, August 24th. The software company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. Splunk had a negative return on equity of 75.81% and a negative net margin of 36.81%. The company had revenue of $279.96 million during the quarter, compared to analyst estimates of $268.72 million. During the same period in the previous year, the company earned $0.05 earnings per share. The company’s quarterly revenue was up 31.6% compared to the same quarter last year. Equities analysts anticipate that Splunk will post $0.54 earnings per share for the current fiscal year.
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In other Splunk news, CFO David F. Conte sold 21,589 shares of the stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $68.99, for a total value of $1,489,425.11. Following the transaction, the chief financial officer now owns 161,022 shares of the company’s stock, valued at $11,108,907.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Godfrey Sullivan sold 40,000 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $58.84, for a total value of $2,353,600.00. Following the completion of the transaction, the director now directly owns 744,540 shares in the company, valued at approximately $43,808,733.60. The disclosure for this sale can be found here. Insiders have sold 588,881 shares of company stock worth $37,776,052 in the last ninety days. 1.43% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB lifted its stake in Splunk by 0.3% in the second quarter. Xact Kapitalforvaltning AB now owns 18,241 shares of the software company’s stock valued at $1,038,000 after buying an additional 62 shares during the period. Patten Group Inc. lifted its stake in Splunk by 3.6% in the first quarter. Patten Group Inc. now owns 2,154 shares of the software company’s stock valued at $131,000 after buying an additional 75 shares during the period. Aperio Group LLC lifted its stake in Splunk by 1.3% in the second quarter. Aperio Group LLC now owns 13,005 shares of the software company’s stock valued at $740,000 after buying an additional 164 shares during the period. Chevy Chase Trust Holdings Inc. lifted its stake in Splunk by 0.6% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 30,039 shares of the software company’s stock valued at $1,709,000 after buying an additional 175 shares during the period. Finally, Prudential Financial Inc. lifted its stake in Splunk by 2.9% in the second quarter. Prudential Financial Inc. now owns 7,140 shares of the software company’s stock valued at $406,000 after buying an additional 200 shares during the period.
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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