Splunk Inc (NASDAQ:SPLK) Given Consensus Rating of “Buy” by Analysts

Splunk Inc (NASDAQ:SPLK) has been given an average rating of “Buy” by the thirty-two ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and twenty-four have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $146.83.

A number of research firms recently commented on SPLK. BidaskClub raised shares of Splunk from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Zacks Investment Research raised shares of Splunk from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Guggenheim decreased their target price on shares of Splunk from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. Northland Securities reissued a “buy” rating and issued a $160.00 target price on shares of Splunk in a report on Friday, May 24th. Finally, Mitsubishi UFJ Financial Group raised their target price on shares of Splunk to $159.00 and gave the company an “overweight” rating in a report on Friday, May 24th.

In other news, CEO Douglas Merritt sold 13,342 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $115.21, for a total value of $1,537,131.82. Following the sale, the chief executive officer now directly owns 296,211 shares in the company, valued at approximately $34,126,469.31. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Timothy Tully sold 4,624 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $115.59, for a total transaction of $534,488.16. Following the completion of the sale, the senior vice president now owns 117,261 shares in the company, valued at $13,554,198.99. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,813 shares of company stock worth $3,676,685. 0.34% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its stake 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 purchasing an additional 1,942,047 shares in the last quarter. Vanguard Group Inc. boosted its position in Splunk by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 13,535,699 shares of the software company’s stock worth $1,702,114,000 after buying an additional 370,125 shares during the period. BlackRock Inc. boosted its position in Splunk by 5.1% during the 1st quarter. BlackRock Inc. now owns 8,494,532 shares of the software company’s stock worth $1,058,421,000 after buying an additional 408,840 shares during the period. Clearbridge Investments LLC boosted its position in Splunk by 2.3% during the 1st quarter. Clearbridge Investments LLC now owns 4,766,131 shares of the software company’s stock worth $593,860,000 after buying an additional 104,910 shares during the period. Finally, Pictet Asset Management Ltd. boosted its position in Splunk by 8.4% during the 2nd quarter. Pictet Asset Management Ltd. now owns 2,815,854 shares of the software company’s stock worth $354,094,000 after buying an additional 217,169 shares during the period. Institutional investors own 92.38% of the company’s stock.

NASDAQ:SPLK traded up $0.17 during mid-day trading on Friday, reaching $118.56. 5,929,722 shares of the company’s stock were exchanged, compared to its average volume of 2,239,026. Splunk has a one year low of $83.69 and a one year high of $143.70. The firm has a market capitalization of $17.78 billion, a PE ratio of -74.57 and a beta of 2.02. The business’s fifty day simple moving average is $131.97 and its two-hundred day simple moving average is $128.86. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.20 and a current ratio of 3.20.

Splunk (NASDAQ:SPLK) last released its quarterly earnings results on Wednesday, August 21st. The software company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.16. Splunk had a negative net margin of 15.16% and a negative return on equity of 12.69%. The business had revenue of $516.56 million for the quarter, compared to analyst estimates of $488.97 million. During the same period last year, the firm earned $0.08 earnings per share. Splunk’s revenue for the quarter was up 33.0% compared to the same quarter last year. As a group, equities research analysts forecast that Splunk will post -0.99 EPS for the current year.

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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Analyst Recommendations for Splunk (NASDAQ:SPLK)

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