Splunk Inc. (SPLK) Price Target Raised to $73.00

Splunk Inc. (NASDAQ:SPLK) had its price target upped by Citigroup Inc. from $70.00 to $73.00 in a research report sent to investors on Monday. They currently have a neutral rating on the software company’s stock.

SPLK has been the subject of a number of other research reports. Zacks Investment Research raised Splunk from a hold rating to a buy rating and set a $74.00 price target for the company in a research report on Wednesday, October 4th. Royal Bank Of Canada reaffirmed a buy rating and set a $75.00 price target on shares of Splunk in a research report on Monday, July 31st. Needham & Company LLC began coverage on Splunk in a research report on Monday, October 23rd. They set a buy rating and a $95.00 price target for the company. Drexel Hamilton reaffirmed a buy rating and set a $93.00 price target on shares of Splunk in a research report on Thursday, November 16th. Finally, BMO Capital Markets upped their price target on Splunk from $71.00 to $83.00 and gave the company an outperform rating in a research report on Friday, November 17th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and thirty have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $82.11.

Shares of Splunk (NASDAQ:SPLK) opened at $83.53 on Monday. Splunk has a 52 week low of $50.64 and a 52 week high of $84.88.

Splunk (NASDAQ:SPLK) last released its 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 return on equity of 71.89% and a negative net margin of 32.72%. The company had revenue of $328.65 million during the quarter, compared to analyst estimates of $309.01 million. analysts forecast that Splunk will post -1.3 EPS for the current fiscal year.

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In related news, Director Thomas M. Neustaetter sold 3,614 shares of the firm’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $67.70, for a total value of $244,667.80. Following the transaction, the director now directly owns 12,871 shares of the company’s stock, valued at approximately $871,366.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Godfrey Sullivan sold 120,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $68.22, for a total value of $8,186,400.00. Following the completion of the transaction, the director now directly owns 585,790 shares in the company, valued at $39,962,593.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 599,197 shares of company stock worth $40,200,725. Company insiders own 1.43% of the company’s stock.

A number of institutional investors have recently made changes to their positions in SPLK. Carmignac Gestion bought a new position in Splunk in the 3rd quarter worth $198,193,000. Bank of New York Mellon Corp raised its holdings in Splunk by 40.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,942,003 shares of the software company’s stock worth $224,259,000 after purchasing an additional 1,128,410 shares during the period. Harbour Capital Advisors LLC raised its holdings in Splunk by 6,237.5% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,061,852 shares of the software company’s stock worth $18,665,000 after purchasing an additional 1,045,097 shares during the period. ETF Managers Group LLC bought a new position in Splunk in the 2nd quarter worth $39,864,000. Finally, Vanguard Group Inc. raised its holdings in Splunk by 5.1% in the 2nd quarter. Vanguard Group Inc. now owns 11,347,936 shares of the software company’s stock worth $645,584,000 after purchasing an additional 546,338 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.

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