Splunk (NASDAQ:SPLK) Upgraded by BidaskClub to “Buy”

BidaskClub upgraded shares of Splunk (NASDAQ:SPLK) from a hold rating to a buy rating in a report released on Friday morning, BidAskClub reports.

A number of other brokerages have also weighed in on SPLK. Piper Jaffray Companies set a $30.00 price objective on shares of Under Armour and gave the company a buy rating in a report on Monday, June 24th. BMO Capital Markets restated a buy rating on shares of Toronto-Dominion Bank in a report on Friday, May 24th. Morgan Stanley set a CHF 104 price objective on shares of Nestlé and gave the company a buy rating in a report on Tuesday, March 19th. Guggenheim restated a buy rating and issued a $60.00 price objective on shares of Foot Locker in a report on Friday, May 24th. Finally, Northland Securities set a $6.00 price objective on shares of EMCORE and gave the company a buy rating in a report on Friday, May 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $144.27.

Shares of SPLK opened at $138.49 on Friday. Splunk has a twelve month low of $83.69 and a twelve month high of $143.70. The firm has a fifty day moving average price of $122.54. The firm has a market cap of $20.55 billion, a price-to-earnings ratio of -87.10 and a beta of 2.06. The company has a debt-to-equity ratio of 1.29, a current ratio of 3.20 and a quick ratio of 3.20.

Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Thursday, May 23rd. The software company reported ($0.85) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.77) by ($0.08). Splunk had a negative net margin of 16.31% and a negative return on equity of 14.98%. The firm had revenue of $424.90 million during the quarter, compared to analyst estimates of $395.92 million. During the same quarter in the previous year, the business posted ($0.07) earnings per share. Splunk’s revenue for the quarter was up 36.4% compared to the same quarter last year. Equities research analysts expect that Splunk will post -0.99 EPS for the current year.

In other Splunk news, CEO Douglas Merritt sold 13,342 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $115.21, for a total transaction of $1,537,131.82. Following the transaction, the chief executive officer now directly owns 296,211 shares of the company’s stock, valued at approximately $34,126,469.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ledger Susan St. sold 2,221 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $119.96, for a total transaction of $266,431.16. Following the transaction, the insider now directly owns 235,094 shares in the company, valued at $28,201,876.24. The disclosure for this sale can be found here. Insiders sold a total of 31,813 shares of company stock worth $3,676,685 over the last ninety days. Insiders own 0.34% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Cable Hill Partners LLC purchased a new position in Splunk during the 1st quarter worth $25,000. Bessemer Group Inc. grew its position in Splunk by 192.2% during the 4th quarter. Bessemer Group Inc. now owns 301 shares of the software company’s stock worth $32,000 after purchasing an additional 198 shares during the last quarter. Trustcore Financial Services LLC purchased a new position in Splunk during the 1st quarter worth $37,000. Icon Wealth Partners LLC purchased a new position in Splunk during the 1st quarter worth $44,000. Finally, Captrust Financial Advisors grew its position in Splunk by 244.4% during the 4th 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 last quarter. 91.86% of the stock is currently owned by institutional investors.

Splunk Company Profile

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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Analyst Recommendations for Splunk (NASDAQ:SPLK)

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