Analysts Set Splunk Inc (SPLK) Price Target at $127.35

Shares of Splunk Inc (NASDAQ:SPLK) have earned an average recommendation of “Buy” from the thirty-nine analysts that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $127.35.

Several equities analysts have issued reports on the stock. BidaskClub raised shares of Splunk from a “buy” rating to a “strong-buy” rating in a report on Monday, January 7th. ValuEngine raised shares of Splunk from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 5th. Zacks Investment Research raised shares of Splunk from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a report on Wednesday, December 26th. Guggenheim assumed coverage on shares of Splunk in a report on Monday, December 10th. They set a “neutral” rating on the stock. Finally, TheStreet raised shares of Splunk from a “d” rating to a “c-” rating in a report on Friday, November 30th.

In other news, insider Ledger Susan St. sold 1,761 shares of the firm’s stock in a transaction dated Friday, January 18th. The shares were sold at an average price of $119.97, for a total value of $211,267.17. Following the transaction, the insider now directly owns 215,798 shares of the company’s stock, valued at $25,889,286.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark T. Carges sold 2,105 shares of the firm’s stock in a transaction dated Monday, January 7th. The stock was sold at an average price of $110.00, for a total transaction of $231,550.00. Following the completion of the transaction, the director now directly owns 13,168 shares in the company, valued at $1,448,480. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,965 shares of company stock worth $4,786,938. Insiders own 0.36% of the company’s stock.

Large investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in Splunk by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 1,338,165 shares of the software company’s stock worth $140,208,000 after purchasing an additional 42,563 shares during the period. Captrust Financial Advisors raised its stake in Splunk by 244.4% during the fourth quarter. Captrust Financial Advisors now owns 427 shares of the software company’s stock worth $45,000 after purchasing an additional 303 shares during the period. California State Teachers Retirement System raised its stake in Splunk by 3.1% during the fourth quarter. California State Teachers Retirement System now owns 238,672 shares of the software company’s stock worth $25,025,000 after purchasing an additional 7,265 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in Splunk by 21.0% during the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,015 shares of the software company’s stock worth $211,000 after purchasing an additional 350 shares during the period. Finally, Ibex Investors LLC raised its stake in Splunk by 71.7% during the fourth quarter. Ibex Investors LLC now owns 39,812 shares of the software company’s stock worth $4,174,000 after purchasing an additional 16,625 shares during the period. 90.75% of the stock is currently owned by hedge funds and other institutional investors.

SPLK stock traded down $0.46 during midday trading on Wednesday, hitting $133.81. 877,164 shares of the stock traded hands, compared to its average volume of 1,533,764. The firm has a market cap of $19.84 billion, a PE ratio of -102.15 and a beta of 2.11. The company has a debt-to-equity ratio of 1.14, a quick ratio of 3.84 and a current ratio of 3.84. Splunk has a 1-year low of $83.69 and a 1-year high of $135.00.

Splunk (NASDAQ:SPLK) last released its quarterly earnings results on Thursday, November 29th. The software company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.61. The company had revenue of $480.98 million for the quarter, compared to analyst estimates of $433.60 million. Splunk had a negative net margin of 18.92% and a negative return on equity of 20.60%. The firm’s revenue was up 40.4% on a year-over-year basis. During the same quarter last year, the business earned $0.17 earnings per share. Research analysts predict that Splunk will post -1.07 earnings per share for the current fiscal year.

About Splunk

Splunk Inc provides software solutions that enable organizations to gain real-time operational intelligence in the United States and internationally. Its products enable users to collect, index, search, explore, monitor, correlate, and analyze data regardless of format or source. The company offers Splunk Enterprise, a machine data platform with collection, indexing, search, reporting, analysis, alerting, monitoring, and data management capabilities; and Splunk Cloud.

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Analyst Recommendations for Splunk (NASDAQ:SPLK)

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