Analysts Set Splunk Inc (NASDAQ:SPLK) PT at $148.76

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Shares of Splunk Inc (NASDAQ:SPLK) have received a consensus recommendation of “Buy” from the thirty-two analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $148.76.

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Splunk from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Argus set a $156.00 price objective on shares of Splunk and gave the stock a “buy” rating in a report on Friday, August 23rd. BMO Capital Markets restated an “outperform” rating and set a $155.00 price objective on shares of Splunk in a report on Thursday, August 22nd. Zacks Investment Research lowered shares of Splunk from a “buy” rating to a “hold” rating and set a $119.00 target price for the company. in a research report on Thursday, October 17th. Finally, BidaskClub lowered shares of Splunk from a “buy” rating to a “hold” rating in a research report on Saturday, October 19th.

In other news, SVP Timothy Tully sold 4,391 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $115.21, for a total value of $505,887.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Timothy Emanuelson sold 529 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $120.46, for a total transaction of $63,723.34. Following the completion of the transaction, the chief accounting officer now owns 27,394 shares of the company’s stock, valued at $3,299,881.24. The disclosure for this sale can be found here. Insiders sold 18,261 shares of company stock valued at $2,106,494 over the last 90 days. 0.34% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. First Allied Advisory Services Inc. bought a new position in shares of Splunk in the third quarter valued at approximately $267,000. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Splunk by 598.8% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,167 shares of the software company’s stock valued at $138,000 after acquiring an additional 1,000 shares during the period. D.A. Davidson & CO. boosted its position in shares of Splunk by 23.5% in the third quarter. D.A. Davidson & CO. now owns 2,804 shares of the software company’s stock valued at $330,000 after acquiring an additional 534 shares during the period. HGI Capital Management LLC boosted its position in shares of Splunk by 7.8% in the third quarter. HGI Capital Management LLC now owns 13,810 shares of the software company’s stock valued at $1,628,000 after acquiring an additional 1,000 shares during the period. Finally, BBVA USA Bancshares Inc. boosted its position in shares of Splunk by 94.0% in the third quarter. BBVA USA Bancshares Inc. now owns 4,432 shares of the software company’s stock valued at $523,000 after acquiring an additional 2,148 shares during the period. Institutional investors own 91.13% of the company’s stock.

NASDAQ SPLK traded down $0.28 during trading hours on Friday, reaching $124.75. 990,410 shares of the company were exchanged, compared to its average volume of 1,753,732. Splunk has a 1 year low of $83.69 and a 1 year high of $143.70. The business’s 50 day simple moving average is $119.10 and its 200-day simple moving average is $123.92. The company has a quick ratio of 3.06, a current ratio of 3.06 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $18.67 billion, a P/E ratio of -78.46 and a beta of 2.03.

Splunk (NASDAQ:SPLK) last posted its quarterly earnings data on Wednesday, August 21st. The software company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.16. Splunk had a negative net margin of 15.16% and a negative return on equity of 12.73%. The business had revenue of $516.56 million during the quarter, compared to the consensus estimate of $488.97 million. During the same quarter last year, the company posted $0.08 earnings per share. The firm’s quarterly revenue was up 33.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Splunk will post -0.88 earnings per share for the current year.

About Splunk

Splunk, Inc engages in the development and marketing of software solutions. Its products include Splunk cloud, Splunk light, and Splunk enterprise. It also offers solutions for information technology operations, security, internet-of-things, application analytics, business analytics, and industries. The company was founded by Erik M.

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Analyst Recommendations for Splunk (NASDAQ:SPLK)

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