Splunk (SPLK) Earns “Neutral” Rating from Wedbush

Wedbush reaffirmed their neutral rating on shares of Splunk (NASDAQ:SPLK) in a research note issued to investors on Wednesday morning. Wedbush currently has a $78.00 price objective on the software company’s stock, down from their prior price objective of $94.00.

Other analysts also recently issued reports about the company. Wells Fargo & Co reissued a buy rating and issued a $95.00 target price on shares of Splunk in a research report on Friday, November 17th. BidaskClub raised Splunk from a hold rating to a buy rating in a research report on Wednesday, February 7th. Jefferies Group reissued a buy rating and issued a $88.00 target price on shares of Splunk in a research report on Friday, November 17th. Maxim Group raised their target price on Splunk from $79.00 to $96.00 and gave the stock a buy rating in a research report on Friday, November 17th. Finally, Bank of America raised their target price on Splunk from $80.00 to $95.00 and gave the stock a buy rating in a research report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirty have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $84.59.

Splunk (NASDAQ SPLK) traded up $3.57 during trading hours on Wednesday, reaching $92.35. The company’s stock had a trading volume of 2,349,300 shares, compared to its average volume of 1,444,281. Splunk has a twelve month low of $54.17 and a twelve month high of $95.18. The stock has a market capitalization of $12,558.68, a P/E ratio of -21.50 and a beta of 2.04.

Splunk (NASDAQ:SPLK) last released its earnings results on Thursday, November 16th. The software company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.42) by $0.59. Splunk had a negative return on equity of 72.06% and a negative net margin of 32.72%. The business had revenue of $328.65 million during the quarter, compared to the consensus estimate of $309.01 million. equities analysts forecast that Splunk will post -1.3 earnings per share for the current fiscal year.

In other Splunk news, insider Douglas Merritt sold 10,126 shares of Splunk stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $80.05, for a total transaction of $810,586.30. Following the completion of the sale, the insider now owns 189,079 shares of the company’s stock, valued at $15,135,773.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Godfrey Sullivan sold 8,750 shares of Splunk stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $81.29, for a total value of $711,287.50. Following the sale, the director now directly owns 207,239 shares of the company’s stock, valued at approximately $16,846,458.31. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,720 shares of company stock valued at $2,477,118. 1.43% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the business. SeaCrest Wealth Management LLC bought a new stake in Splunk during the fourth quarter worth about $102,000. James Hambro & Partners bought a new stake in Splunk during the fourth quarter worth about $124,000. Patten Group Inc. lifted its stake in Splunk by 1,048.8% during the third quarter. Patten Group Inc. now owns 24,746 shares of the software company’s stock worth $143,000 after purchasing an additional 22,592 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in Splunk during the third quarter worth about $201,000. Finally, MANA Advisors LLC bought a new stake in Splunk during the fourth quarter worth about $208,000.

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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.

Analyst Recommendations for Splunk (NASDAQ:SPLK)

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