Splunk (NASDAQ:SPLK) had its target price hoisted by equities researchers at Barclays to $125.00 in a research note issued on Friday, The Fly reports. The brokerage currently has an “overweight” rating on the software company’s stock. Barclays’ price objective would suggest a potential upside of 8.83% from the company’s current price.
Several other brokerages have also issued reports on SPLK. Wedbush reaffirmed a “buy” rating and issued a $118.00 target price (down previously from $122.00) on shares of Splunk in a research note on Friday. Zacks Investment Research raised shares of Splunk from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 13th. Vetr lowered shares of Splunk from a “hold” rating to a “sell” rating and set a $103.98 target price on the stock. in a research note on Wednesday, April 18th. BidaskClub raised shares of Splunk from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 13th. Finally, Argus raised shares of Splunk from a “hold” rating to a “buy” rating in a research note on Thursday, March 8th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and two have given a strong buy rating to the company’s stock. Splunk has an average rating of “Buy” and an average target price of $101.86.
SPLK opened at $114.86 on Friday. The stock has a market capitalization of $16.70 billion, a price-to-earnings ratio of -87.68 and a beta of 1.85. Splunk has a 1-year low of $113.73 and a 1-year high of $115.82.
Splunk (NASDAQ:SPLK) last posted its quarterly earnings data on Thursday, March 1st. The software company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.04. The firm had revenue of $419.70 million during the quarter, compared to analysts’ expectations of $390.79 million. Splunk had a negative net margin of 20.39% and a negative return on equity of 31.42%. The company’s quarterly revenue was up 37.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 EPS. equities research analysts forecast that Splunk will post -1.14 earnings per share for the current fiscal year.
In other Splunk news, CFO David F. Conte sold 12,969 shares of the firm’s stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $107.62, for a total transaction of $1,395,723.78. Following the sale, the chief financial officer now directly owns 106,582 shares in the company, valued at approximately $11,470,354.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ledger Susan St. sold 10,424 shares of the firm’s stock in a transaction that occurred on Tuesday, April 3rd. The stock was sold at an average price of $97.65, for a total transaction of $1,017,903.60. Following the sale, the insider now owns 308,593 shares in the company, valued at $30,134,106.45. The disclosure for this sale can be found here. Insiders have sold a total of 163,912 shares of company stock worth $16,716,531 over the last 90 days. Corporate insiders own 0.36% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Atria Investments LLC acquired a new stake in Splunk during the 4th quarter worth approximately $270,000. Teachers Advisors LLC raised its holdings in Splunk by 5.4% during the 4th quarter. Teachers Advisors LLC now owns 154,624 shares of the software company’s stock worth $12,809,000 after buying an additional 7,987 shares during the period. TIAA CREF Investment Management LLC raised its holdings in Splunk by 6.5% during the 4th quarter. TIAA CREF Investment Management LLC now owns 361,808 shares of the software company’s stock worth $29,972,000 after buying an additional 22,225 shares during the period. Spence Asset Management acquired a new stake in Splunk during the 4th quarter worth approximately $4,560,000. Finally, BlackRock Inc. raised its holdings in Splunk by 4.2% during the 4th quarter. BlackRock Inc. now owns 7,517,442 shares of the software company’s stock worth $622,742,000 after buying an additional 302,410 shares during the period. Hedge funds and other institutional investors own 98.25% of the company’s stock.
Splunk Company Profile
Splunk Inc provides software solutions that enable organizations to gain real-time operational intelligence in the United States and internationally. Its products enable users to collect, index, search, explore, monitor, correlate, and analyze data regardless of format or source. The company offers Splunk Enterprise, a machine data platform with collection, indexing, search, reporting, analysis, alerting, monitoring, and data management capabilities; and Splunk Cloud.
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