Splunk (NASDAQ:SPLK)‘s stock had its “buy” rating restated by research analysts at Bank of America in a note issued to investors on Wednesday, Fintech Zoom reports. They presently have a $180.00 target price on the software company’s stock. Bank of America‘s price objective points to a potential upside of 21.88% from the company’s previous close.
Other equities research analysts have also recently issued research reports about the company. Citigroup started coverage on Splunk in a research note on Wednesday, March 3rd. They issued a “neutral” rating and a $178.00 target price on the stock. Barclays lowered their price target on Splunk from $220.00 to $206.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 10th. DA Davidson lowered their price target on Splunk from $177.00 to $156.00 and set a “neutral” rating on the stock in a research report on Thursday, March 4th. Zacks Investment Research raised Splunk from a “strong sell” rating to a “hold” rating and set a $180.00 price target on the stock in a research report on Tuesday, February 2nd. Finally, Robert W. Baird lowered their price target on Splunk from $215.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 10th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $207.77.
NASDAQ:SPLK opened at $147.69 on Wednesday. Splunk has a fifty-two week low of $123.51 and a fifty-two week high of $225.89. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.43 and a quick ratio of 2.43. The stock has a market capitalization of $24.20 billion, a PE ratio of -29.60 and a beta of 1.44. The business’s 50-day simple moving average is $139.53 and its 200-day simple moving average is $172.44.
Splunk (NASDAQ:SPLK) last released its earnings results on Tuesday, March 2nd. The software company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.35. The firm had revenue of $745.08 million for the quarter, compared to analysts’ expectations of $677.24 million. Splunk had a negative return on equity of 34.13% and a negative net margin of 34.77%. The business’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.96 EPS. On average, research analysts expect that Splunk will post -4 earnings per share for the current year.
In related news, CAO Timothy Emanuelson sold 538 shares of the business’s stock in a transaction dated Friday, January 15th. The stock was sold at an average price of $171.10, for a total transaction of $92,051.80. Following the completion of the transaction, the chief accounting officer now directly owns 21,614 shares in the company, valued at $3,698,155.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Jason Child sold 1,582 shares of the business’s stock in a transaction dated Friday, April 9th. The stock was sold at an average price of $140.87, for a total value of $222,856.34. Following the transaction, the chief financial officer now owns 179,516 shares of the company’s stock, valued at $25,288,418.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,719 shares of company stock valued at $7,878,053. 0.34% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Royal London Asset Management Ltd. lifted its stake in Splunk by 2.7% during the first quarter. Royal London Asset Management Ltd. now owns 60,250 shares of the software company’s stock worth $8,163,000 after purchasing an additional 1,610 shares during the last quarter. Keudell Morrison Wealth Management lifted its stake in Splunk by 24.4% during the first quarter. Keudell Morrison Wealth Management now owns 3,219 shares of the software company’s stock worth $436,000 after purchasing an additional 632 shares during the last quarter. Gofen & Glossberg LLC IL lifted its stake in Splunk by 132.0% during the first quarter. Gofen & Glossberg LLC IL now owns 58,825 shares of the software company’s stock worth $7,970,000 after purchasing an additional 33,471 shares during the last quarter. Harbour Capital Advisors LLC lifted its stake in Splunk by 1.5% during the first quarter. Harbour Capital Advisors LLC now owns 19,182 shares of the software company’s stock worth $2,599,000 after purchasing an additional 287 shares during the last quarter. Finally, HighPoint Advisor Group LLC bought a new stake in Splunk during the first quarter worth about $332,000. 90.47% of the stock is owned by hedge funds and other institutional investors.
Splunk Company Profile
Splunk Inc develops and markets software solutions that enable organizations to gain real-time operational intelligence in the United States and internationally. The company offers Splunk Enterprise, a real-time data platform, which include collection, indexing, search, reporting, analysis, alerting, monitoring, and data management capabilities; and Splunk Cloud, a cloud service for machine data.
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