Splunk’s (SPLK) “Buy” Rating Reiterated at Piper Jaffray Companies

Piper Jaffray Companies reaffirmed their buy rating on shares of Splunk Inc. (NASDAQ:SPLK) in a research note issued to investors on Wednesday morning. They currently have a $80.00 target price on the software company’s stock.

A number of other equities research analysts have also recently weighed in on the stock. KeyCorp reissued a buy rating on shares of Splunk in a research report on Friday, October 27th. ValuEngine cut shares of Splunk from a hold rating to a sell rating in a research report on Wednesday, October 11th. Maxim Group reissued a buy rating and issued a $79.00 price target on shares of Splunk in a research report on Friday, October 27th. Credit Suisse Group started coverage on shares of Splunk in a research report on Tuesday, September 5th. They issued an outperform rating and a $80.00 price target for the company. Finally, Needham & Company LLC started coverage on shares of Splunk in a research report on Monday, October 23rd. They issued a buy rating and a $95.00 price target for the company. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and thirty have issued a buy rating to the stock. Splunk has an average rating of Buy and an average target price of $80.92.

Shares of Splunk (NASDAQ SPLK) traded up $12.40 on Wednesday, reaching $81.70. 13,198,619 shares of the company were exchanged, compared to its average volume of 1,627,646. Splunk has a 52-week low of $50.64 and a 52-week high of $81.99.

Splunk (NASDAQ:SPLK) last announced its quarterly earnings results on Thursday, November 16th. The software company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.59. Splunk had a negative net margin of 36.81% and a negative return on equity of 75.81%. The firm had revenue of $328.65 million during the quarter, compared to analysts’ expectations of $309.01 million. equities analysts predict that Splunk will post -1.47 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Splunk’s (SPLK) “Buy” Rating Reiterated at Piper Jaffray Companies” was published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this piece of content can be viewed at https://sportsperspectives.com/2017/11/18/splunks-splk-buy-rating-reiterated-at-piper-jaffray-companies.html.

In related news, CFO David F. Conte sold 21,589 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $68.99, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David F. Conte sold 10,525 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $66.03, for a total transaction of $694,965.75. The disclosure for this sale can be found here. Insiders have sold 599,197 shares of company stock worth $40,200,725 in the last three months. Insiders own 1.43% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB lifted its stake in shares of Splunk by 0.3% during 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. Aperio Group LLC lifted its stake in shares of Splunk by 1.3% during 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 shares of Splunk by 0.6% during 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. Prudential Financial Inc. lifted its stake in shares of Splunk by 2.9% during 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. Finally, IFP Advisors Inc lifted its stake in shares of Splunk by 6.2% during the second quarter. IFP Advisors Inc now owns 3,508 shares of the software company’s stock valued at $200,000 after buying an additional 204 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.

Analyst Recommendations for Splunk (NASDAQ:SPLK)

Receive News & Ratings for Splunk Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Splunk Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply