Splunk Inc (NASDAQ:SPLK) Receives Average Recommendation of “Buy” from Analysts

Shares of Splunk Inc (NASDAQ:SPLK) have been assigned an average rating of “Buy” from the thirty-seven analysts that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, twenty-seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $182.30.

Several research firms have recently issued reports on SPLK. Mizuho reaffirmed a “buy” rating and set a $195.00 price target on shares of Splunk in a research note on Wednesday, June 17th. Jefferies Financial Group lifted their target price on shares of Splunk from $150.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Royal Bank of Canada increased their price target on shares of Splunk from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, May 22nd. Cowen cut shares of Splunk from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $165.00 to $140.00 in a research note on Friday, April 24th. Finally, Raymond James upped their target price on Splunk from $140.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday, May 22nd.

In related news, SVP Timothy Tully sold 5,402 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $108.37, for a total value of $585,414.74. Following the transaction, the senior vice president now owns 146,039 shares in the company, valued at $15,826,246.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Timothy Emanuelson sold 324 shares of Splunk stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $123.84, for a total transaction of $40,124.16. Following the transaction, the chief accounting officer now directly owns 26,090 shares in the company, valued at $3,230,985.60. The disclosure for this sale can be found here. Insiders sold a total of 141,401 shares of company stock worth $22,265,131 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

A number of institutional investors have recently made changes to their positions in SPLK. Principal Financial Group Inc. raised its holdings in shares of Splunk by 1.7% during the 4th quarter. Principal Financial Group Inc. now owns 15,738 shares of the software company’s stock valued at $2,357,000 after buying an additional 267 shares during the period. American International Group Inc. raised its stake in shares of Splunk by 263.4% during the fourth quarter. American International Group Inc. now owns 13,313 shares of the software company’s stock valued at $1,994,000 after purchasing an additional 9,650 shares during the period. Victory Capital Management Inc. lifted its position in shares of Splunk by 64.8% during the fourth quarter. Victory Capital Management Inc. now owns 107,033 shares of the software company’s stock worth $16,030,000 after purchasing an additional 42,084 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Splunk during the 4th quarter valued at $62,000. Finally, Sowell Financial Services LLC grew its holdings in Splunk by 511.0% during the 4th quarter. Sowell Financial Services LLC now owns 1,167 shares of the software company’s stock valued at $175,000 after purchasing an additional 976 shares in the last quarter. 92.86% of the stock is owned by hedge funds and other institutional investors.

Shares of SPLK stock traded up $3.76 during midday trading on Friday, reaching $196.80. 3,280,326 shares of the company traded hands, compared to its average volume of 1,834,945. The firm’s 50 day simple moving average is $176.00 and its two-hundred day simple moving average is $151.31. The firm has a market cap of $30.67 billion, a PE ratio of -62.67 and a beta of 1.61. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.27 and a quick ratio of 2.27. Splunk has a 1-year low of $93.92 and a 1-year high of $197.70.

Splunk (NASDAQ:SPLK) last released its quarterly earnings data on Thursday, May 21st. The software company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.01. The firm had revenue of $434.08 million during the quarter, compared to the consensus estimate of $443.60 million. Splunk had a negative return on equity of 17.40% and a negative net margin of 20.56%. Splunk’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the business posted $0.02 EPS. As a group, research analysts anticipate that Splunk will post -3.31 earnings per share for the current fiscal 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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