Splunk Inc. (SPLK) Price Target Raised to $80.00 at Barclays PLC

Splunk Inc. (NASDAQ:SPLK) had its price target hoisted by Barclays PLC from $73.00 to $80.00 in a research report released on Friday. They currently have an equal weight rating on the software company’s stock.

Several other research firms have also recently issued reports on SPLK. Bank of America Corporation lifted their price objective on Splunk from $80.00 to $95.00 and gave the stock a buy rating in a report on Friday. Drexel Hamilton reiterated a buy rating and issued a $93.00 price objective on shares of Splunk in a report on Thursday. Jefferies Group LLC reiterated a buy rating and issued a $88.00 price objective on shares of Splunk in a report on Friday. Wells Fargo & Company reiterated a buy rating and issued a $95.00 price objective on shares of Splunk in a report on Friday. Finally, Mizuho upgraded Splunk from a neutral rating to a buy rating and lifted their price objective for the stock from $60.00 to $90.00 in a report on Friday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirty have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $80.92.

Splunk (NASDAQ SPLK) traded up $12.40 during mid-day trading on Friday, reaching $81.70. The company had a trading volume of 13,198,619 shares, compared to its average volume of 1,627,646. Splunk has a 12 month low of $50.64 and a 12 month high of $81.99.

Splunk (NASDAQ:SPLK) last posted its quarterly earnings data 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. Splunk had a negative return on equity of 75.81% and a negative net margin of 36.81%. The company had revenue of $328.65 million for the quarter, compared to analysts’ expectations of $309.01 million. equities research analysts anticipate that Splunk will post -1.47 earnings per share for the current year.

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In related news, CFO David F. Conte sold 10,525 shares of the business’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $66.03, for a total transaction of $694,965.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Godfrey Sullivan sold 120,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $68.22, for a total transaction of $8,186,400.00. Following the transaction, the director now owns 585,790 shares of the company’s stock, valued at approximately $39,962,593.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 599,197 shares of company stock valued at $40,200,725. Insiders own 1.43% of the company’s stock.

Several hedge funds have recently modified their holdings of SPLK. Carmignac Gestion acquired a new position in shares of Splunk during the third quarter worth $198,193,000. Bank of New York Mellon Corp grew its stake in shares of Splunk by 40.1% during the second quarter. Bank of New York Mellon Corp now owns 3,942,003 shares of the software company’s stock worth $224,259,000 after purchasing an additional 1,128,410 shares in the last quarter. Harbour Capital Advisors LLC grew its stake in shares of Splunk by 6,237.5% during the second quarter. Harbour Capital Advisors LLC now owns 1,061,852 shares of the software company’s stock worth $18,665,000 after purchasing an additional 1,045,097 shares in the last quarter. ETF Managers Group LLC acquired a new position in shares of Splunk during the second quarter worth $39,864,000. Finally, Vanguard Group Inc. grew its stake in shares of Splunk by 5.1% during the second quarter. Vanguard Group Inc. now owns 11,347,936 shares of the software company’s stock worth $645,584,000 after purchasing an additional 546,338 shares in the last quarter.

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.

Analyst Recommendations for Splunk (NASDAQ:SPLK)

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