Splunk (NASDAQ:SPLK) PT Lowered to $142.00 at Barclays

Splunk (NASDAQ:SPLK) had its target price cut by Barclays from $158.00 to $142.00 in a research note published on Friday, BenzingaRatingsTable reports. They currently have an overweight rating on the software company’s stock.

SPLK has been the subject of several other research reports. Mitsubishi UFJ Financial Group boosted their price objective on shares of Splunk to $159.00 and gave the stock an overweight rating in a research note on Friday, May 24th. Wedbush reiterated an outperform rating and set a $158.00 price objective (down previously from $163.00) on shares of Splunk in a research note on Tuesday, August 20th. Citigroup reduced their price objective on shares of Splunk from $106.00 to $102.00 and set a sell rating for the company in a research note on Friday, August 23rd. Guggenheim reduced their price objective on shares of Splunk from $125.00 to $115.00 and set a neutral rating for the company in a research note on Friday, May 24th. Finally, Northland Securities reiterated a buy rating and set a $160.00 price objective on shares of Splunk in a research note on Friday, May 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the stock. Splunk currently has an average rating of Buy and an average target price of $144.87.

NASDAQ SPLK opened at $114.82 on Friday. 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 firm has a market cap of $17.24 billion, a PE ratio of -72.21 and a beta of 2.04. The company has a 50 day moving average price of $120.86 and a 200 day moving average price of $126.46. Splunk has a 52 week low of $83.69 and a 52 week high of $143.70.

Splunk (NASDAQ:SPLK) last posted its quarterly earnings data on Wednesday, August 21st. The software company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.51) by $0.16. The firm had revenue of $516.56 million during the quarter, compared to analyst estimates of $488.97 million. Splunk had a negative net margin of 15.16% and a negative return on equity of 12.73%. Splunk’s revenue was up 33.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.08 EPS. On average, equities research analysts anticipate that Splunk will post -0.87 earnings per share for the current fiscal year.

In other news, CEO Douglas Merritt sold 13,341 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $115.20, for a total value of $1,536,883.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Timothy Tully sold 4,391 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $115.21, for a total transaction of $505,887.11. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in SPLK. Price T Rowe Associates Inc. MD boosted its holdings in shares of Splunk by 8.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 24,287,809 shares of the software company’s stock valued at $3,054,191,000 after acquiring an additional 1,942,047 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Splunk by 231.1% in the 2nd quarter. Invesco Ltd. now owns 1,141,819 shares of the software company’s stock valued at $143,584,000 after acquiring an additional 796,914 shares during the last quarter. Pictet Asset Management Ltd. boosted its holdings in shares of Splunk by 28.9% in the 1st quarter. Pictet Asset Management Ltd. now owns 2,598,685 shares of the software company’s stock valued at $323,796,000 after acquiring an additional 582,919 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Splunk by 910.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 644,226 shares of the software company’s stock valued at $81,011,000 after acquiring an additional 580,476 shares during the last quarter. Finally, FIL Ltd boosted its holdings in shares of Splunk by 137.0% in the 1st quarter. FIL Ltd now owns 762,619 shares of the software company’s stock valued at $95,023,000 after acquiring an additional 440,879 shares during the last quarter. 91.07% of the stock is currently owned by institutional investors and hedge funds.

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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