Wedbush restated their outperform rating on shares of Splunk (NASDAQ:SPLK) in a report issued on Tuesday morning, BenzingaRatingsTable reports. They currently have a $158.00 price target on the software company’s stock, down from their prior price target of $163.00. Wedbush also issued estimates for Splunk’s FY2022 earnings at ($1.64) EPS.
Several other research firms have also recently weighed in on SPLK. Piper Jaffray Companies restated an overweight rating and set a $160.00 price target on shares of Splunk in a report on Monday, June 24th. Zacks Investment Research upgraded Splunk from a sell rating to a hold rating in a report on Wednesday, May 29th. Mitsubishi UFJ Financial Group upped their target price on Splunk to $159.00 and gave the company an overweight rating in a report on Friday, May 24th. BidaskClub upgraded Splunk from a hold rating to a buy rating in a report on Friday, July 12th. Finally, UBS Group set a $165.00 target price on Splunk and gave the company a buy rating in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-five have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $143.45.
NASDAQ:SPLK opened at $118.56 on Tuesday. The stock has a market cap of $19.03 billion, a P/E ratio of -74.57 and a beta of 2.02. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 1.29. The stock’s 50-day moving average is $131.97 and its 200-day moving average is $128.86. Splunk has a 1-year low of $83.69 and a 1-year high of $143.70.
Splunk (NASDAQ:SPLK) last released its quarterly earnings results on Wednesday, August 21st. The software company reported ($0.35) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.51) by $0.16. The company had revenue of $516.56 million for the quarter, compared to analysts’ expectations of $488.97 million. Splunk had a negative return on equity of 14.98% and a negative net margin of 16.31%. The business’s quarterly revenue was up 33.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.08 earnings per share. As a group, equities analysts forecast that Splunk will post -0.99 EPS for the current year.
In other news, SVP Timothy Tully sold 4,624 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $115.59, for a total transaction of $534,488.16. Following the transaction, the senior vice president now directly owns 117,261 shares of the company’s stock, valued at $13,554,198.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ledger Susan St. sold 2,221 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $119.96, for a total value 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 have sold a total of 31,813 shares of company stock worth $3,676,685 over the last 90 days. Company insiders own 0.34% of the company’s stock.
Large investors have recently modified their holdings of the company. Cable Hill Partners LLC acquired a new position in shares of Splunk during the first quarter worth approximately $25,000. Parkside Financial Bank & Trust acquired a new position in shares of Splunk during the second quarter worth approximately $25,000. Motco acquired a new position in shares of Splunk during the second quarter worth approximately $27,000. HM Payson & Co. acquired a new position in shares of Splunk during the second quarter worth approximately $28,000. Finally, Manchester Financial Inc. acquired a new position in shares of Splunk during the second quarter worth approximately $29,000. 92.38% 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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