Splunk (NASDAQ:SPLK) Cut to Hold at BidaskClub

BidaskClub lowered shares of Splunk (NASDAQ:SPLK) from a buy rating to a hold rating in a research note published on Saturday morning, BidAskClub reports.

Several other equities research analysts also recently issued reports on SPLK. Wedbush restated an outperform rating and set a $158.00 price objective (down from $163.00) on shares of Splunk in a research report on Tuesday, August 20th. BMO Capital Markets reiterated an outperform rating and issued a $155.00 price target on shares of Splunk in a research report on Thursday, August 22nd. Jefferies Financial Group reiterated a buy rating and issued a $157.00 price target on shares of Splunk in a research report on Tuesday, October 8th. SunTrust Banks initiated coverage on shares of Splunk in a research report on Wednesday, October 2nd. They issued a buy rating and a $160.00 price target for the company. Finally, Robert W. Baird downgraded shares of Splunk from an outperform rating to a neutral rating and set a $127.00 price target for the company. in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-three have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $147.13.

SPLK stock traded down $2.25 during mid-day trading on Friday, hitting $110.95. 1,527,567 shares of the company were exchanged, compared to its average volume of 1,444,821. The business has a 50 day simple moving average of $116.22 and a 200-day simple moving average of $125.13. The company has a current ratio of 3.06, a quick ratio of 3.06 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $17.13 billion, a PE ratio of -69.78 and a beta of 2.06. Splunk has a 1-year low of $83.69 and a 1-year high of $143.70.

Splunk (NASDAQ:SPLK) last issued its quarterly earnings data on Wednesday, August 21st. The software company reported ($0.35) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.51) by $0.16. The firm had revenue of $516.56 million during the quarter, compared to the consensus estimate of $488.97 million. Splunk had a negative net margin of 15.16% and a negative return on equity of 12.73%. The business’s revenue for the quarter was up 33.0% compared to the same quarter last year. During the same period last year, the business posted $0.08 earnings per share. Equities research analysts expect that Splunk will post -0.83 earnings per share for the current year.

In other Splunk news, CEO Douglas Merritt sold 13,341 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $115.20, for a total transaction of $1,536,883.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Timothy Emanuelson sold 529 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $120.46, for a total transaction of $63,723.34. Following the sale, the chief accounting officer now directly owns 27,394 shares in the company, valued at approximately $3,299,881.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,261 shares of company stock worth $2,106,494. Insiders own 0.34% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust acquired a new position in Splunk in the second quarter valued at $25,000. Motco acquired a new position in Splunk in the second quarter valued at $27,000. HM Payson & Co. acquired a new position in Splunk in the second quarter valued at $28,000. Manchester Financial Inc. acquired a new position in Splunk in the second quarter valued at $29,000. Finally, Assetmark Inc. lifted its holdings in Splunk by 102.3% in the second quarter. Assetmark Inc. now owns 265 shares of the software company’s stock valued at $33,000 after buying an additional 134 shares during the period. 90.95% of the stock is currently owned by institutional investors.

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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