StockNews.com started coverage on shares of Splunk (NASDAQ:SPLK – Get Rating) in a report published on Thursday morning. The firm issued a hold rating on the software company’s stock.
Other equities analysts have also issued research reports about the stock. Royal Bank of Canada upped their price target on shares of Splunk from $110.00 to $120.00 and gave the stock an outperform rating in a research report on Tuesday, February 21st. Barclays increased their target price on shares of Splunk from $110.00 to $122.00 and gave the company an overweight rating in a research report on Wednesday, February 15th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Splunk from $117.00 to $90.00 in a research report on Thursday, December 1st. Citigroup increased their target price on shares of Splunk from $105.00 to $110.00 and gave the company a neutral rating in a research report on Friday, March 3rd. Finally, Piper Sandler increased their target price on shares of Splunk from $105.00 to $118.00 in a research report on Thursday, March 2nd. Ten equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Splunk has an average rating of Moderate Buy and a consensus price target of $115.23.
Splunk Stock Performance
Splunk stock opened at $89.15 on Thursday. The company has a 50-day simple moving average of $97.53 and a 200-day simple moving average of $87.91. Splunk has a one year low of $65.00 and a one year high of $150.79.
Insider Transactions at Splunk
Hedge Funds Weigh In On Splunk
A number of hedge funds have recently added to or reduced their stakes in SPLK. MetLife Investment Management LLC acquired a new position in Splunk in the first quarter worth approximately $1,527,000. Raymond James Trust N.A. grew its holdings in Splunk by 34.4% during the first quarter. Raymond James Trust N.A. now owns 4,957 shares of the software company’s stock valued at $737,000 after purchasing an additional 1,268 shares during the last quarter. Prudential PLC acquired a new position in Splunk during the first quarter valued at approximately $357,000. National Pension Service grew its holdings in Splunk by 8.1% during the first quarter. National Pension Service now owns 251,984 shares of the software company’s stock valued at $37,447,000 after purchasing an additional 18,834 shares during the last quarter. Finally, Loomis Sayles & Co. L P acquired a new position in Splunk during the first quarter valued at approximately $89,000. Institutional investors and hedge funds own 85.71% of the company’s stock.
Splunk, Inc engages in the development and marketing of cloud 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.
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