Splunk Inc. (SPLK) PT Raised to $90.00

Splunk Inc. (NASDAQ:SPLK) had its price target raised by FBN Securities to $90.00 in a research note released on Friday. They currently have an outperform rating on the software company’s stock.

SPLK has been the subject of several other research reports. Zacks Investment Research raised shares of 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. Royal Bank Of Canada reissued a buy rating and issued a $75.00 price target on shares of Splunk in a report on Monday, July 31st. Needham & Company LLC started coverage on shares of Splunk in a report on Monday, October 23rd. They issued a buy rating and a $95.00 price target for the company. Drexel Hamilton reaffirmed a buy rating and set a $93.00 target price on shares of Splunk in a report on Thursday, November 16th. Finally, BMO Capital Markets upped their target price on shares of Splunk from $71.00 to $83.00 and gave the stock an outperform rating in a report on Friday. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-nine have issued a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $81.61.

Shares of Splunk (SPLK) opened at $81.35 on Friday. Splunk has a 1-year low of $50.64 and a 1-year high of $81.99.

Splunk (NASDAQ:SPLK) last issued its quarterly earnings results on Thursday, November 16th. The software company reported $0.17 EPS for the quarter, topping the consensus estimate of ($0.42) by $0.59. The company had revenue of $328.65 million during the quarter, compared to analyst estimates of $309.01 million. Splunk had a negative net margin of 32.72% and a negative return on equity of 71.89%. equities analysts anticipate that Splunk will post -1.43 earnings per share for the current fiscal year.

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In related news, Director Godfrey Sullivan sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $68.62, for a total transaction of $2,744,800.00. Following the sale, the director now directly owns 585,790 shares in the company, valued at $40,196,909.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David F. Conte sold 21,589 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $68.99, for a total transaction of $1,489,425.11. Following the sale, the chief financial officer now owns 161,022 shares in the company, valued at $11,108,907.78. The disclosure for this sale can be found here. Insiders have sold 599,197 shares of company stock worth $40,200,725 over the last 90 days. Insiders own 1.43% of the company’s stock.

A number of institutional investors have recently made changes to their positions in SPLK. Dimensional Fund Advisors LP increased its stake in Splunk by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 127,208 shares of the software company’s stock valued at $7,924,000 after purchasing an additional 349 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased 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 purchasing an additional 175 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in Splunk by 513.0% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 21,994 shares of the software company’s stock valued at $1,251,000 after purchasing an additional 18,406 shares during the last quarter. Diversified Trust Co increased its stake in Splunk by 11.7% in the second quarter. Diversified Trust Co now owns 3,806 shares of the software company’s stock valued at $217,000 after purchasing an additional 400 shares during the last quarter. Finally, Aperio Group LLC increased 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 purchasing an additional 164 shares during the last quarter.

About Splunk

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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