Splunk Inc. (NASDAQ:SPLK – Get Rating) has earned an average recommendation of “Moderate Buy” from the thirty-one ratings firms that are currently covering the company, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $125.79.
A number of equities research analysts have recently commented on SPLK shares. Rosenblatt Securities lowered their target price on Splunk from $152.00 to $142.00 and set a “buy” rating on the stock in a research note on Thursday, August 25th. Argus decreased their price objective on Splunk from $171.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday, August 31st. Citigroup reissued a “neutral” rating and issued a $118.00 price objective (down previously from $120.00) on shares of Splunk in a report on Wednesday, August 3rd. Loop Capital decreased their price objective on Splunk from $160.00 to $135.00 in a report on Thursday, August 25th. Finally, Wells Fargo & Company assumed coverage on Splunk in a report on Tuesday, October 11th. They issued an “overweight” rating and a $95.00 price objective for the company.
Institutional Trading of Splunk
Several hedge funds and other institutional investors have recently bought and sold shares of SPLK. Assenagon Asset Management S.A. lifted its position in Splunk by 7,606.2% in the third quarter. Assenagon Asset Management S.A. now owns 1,369,626 shares of the software company’s stock valued at $102,996,000 after purchasing an additional 1,351,853 shares during the last quarter. Whale Rock Capital Management LLC lifted its position in Splunk by 68.5% in the second quarter. Whale Rock Capital Management LLC now owns 2,748,086 shares of the software company’s stock valued at $243,096,000 after purchasing an additional 1,117,545 shares during the last quarter. Point72 Asset Management L.P. lifted its position in Splunk by 984.2% in the second quarter. Point72 Asset Management L.P. now owns 818,324 shares of the software company’s stock valued at $72,389,000 after purchasing an additional 742,850 shares during the last quarter. XN LP purchased a new position in shares of Splunk during the first quarter valued at approximately $101,262,000. Finally, Clearbridge Investments LLC increased its stake in shares of Splunk by 12.3% during the first quarter. Clearbridge Investments LLC now owns 5,753,569 shares of the software company’s stock valued at $855,038,000 after buying an additional 628,288 shares during the period. Institutional investors own 85.49% of the company’s stock.
Splunk Trading Up 5.1 %
Shares of NASDAQ:SPLK opened at $85.67 on Friday. The stock’s fifty day simple moving average is $81.35 and its two-hundred day simple moving average is $94.61. Splunk has a 1-year low of $65.00 and a 1-year high of $168.10. The stock has a market cap of $13.94 billion, a PE ratio of -13.77 and a beta of 1.43.
Splunk (NASDAQ:SPLK – Get Rating) last released its earnings results on Wednesday, August 24th. The software company reported ($0.94) EPS for the quarter, topping analysts’ consensus estimates of ($1.58) by $0.64. The company had revenue of $798.75 million for the quarter, compared to analysts’ expectations of $747.92 million. Splunk had a negative return on equity of 396.11% and a negative net margin of 32.85%. The business’s revenue for the quarter was up 31.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.63) EPS. On average, sell-side analysts forecast that Splunk will post -2.97 earnings per share for the current fiscal year.
Splunk Inc, together with its subsidiaries, provides software and cloud solutions that deliver and operationalize insights from the data generated by digital systems in the United States and internationally. The company offers Splunk Platform, a real-time data platform comprising collection, streaming, indexing, search, reporting, analysis, machine learning, alerting, monitoring, and data management capabilities.
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