Splunk (NASDAQ:SPLK) Given New $190.00 Price Target at JPMorgan Chase & Co.

Splunk (NASDAQ:SPLK) had its target price upped by JPMorgan Chase & Co. from $174.00 to $190.00 in a research note published on Friday morning, The Fly reports. The firm currently has an overweight rating on the software company’s stock.

A number of other brokerages have also weighed in on SPLK. Wedbush increased their target price on Splunk from $180.00 to $204.00 and gave the stock an outperform rating in a research note on Friday. Oppenheimer increased their target price on Splunk from $145.00 to $190.00 and gave the stock an outperform rating in a research note on Friday. Raymond James increased their target price on Splunk from $140.00 to $185.00 and gave the stock an outperform rating in a research note on Friday. Bank of America restated a buy rating and set a $225.00 price objective on shares of Splunk in a research note on Thursday, March 5th. Finally, UBS Group raised their price objective on Splunk from $176.00 to $186.00 and gave the stock a buy rating in a research note on Thursday, March 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $175.06.

Shares of NASDAQ SPLK traded up $20.81 during trading hours on Friday, reaching $184.26. 8,753,828 shares of the stock were exchanged, compared to its average volume of 1,623,223. The firm has a market capitalization of $25.96 billion, a price-to-earnings ratio of -58.68 and a beta of 1.52. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.15 and a current ratio of 2.15. Splunk has a 52 week low of $93.92 and a 52 week high of $185.26. The stock’s fifty day simple moving average is $135.50 and its 200 day simple moving average is $142.29.

Splunk (NASDAQ:SPLK) last announced its earnings results on Thursday, May 21st. The software company reported ($0.56) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.57) by $0.01. The company had revenue of $434.08 million for the quarter, compared to analyst estimates of $443.60 million. Splunk had a negative return on equity of 17.54% and a negative net margin of 20.56%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.02 earnings per share. Research analysts predict that Splunk will post -3.23 EPS for the current fiscal year.

In related news, insider Ledger Susan St. sold 17,338 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $122.06, for a total transaction of $2,116,276.28. Following the sale, the insider now owns 162,650 shares of the company’s stock, valued at approximately $19,853,059. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Timothy Emanuelson sold 324 shares of the firm’s stock in a transaction on Monday, April 13th. The shares were sold at an average price of $123.84, for a total value of $40,124.16. Following the sale, the chief accounting officer now directly owns 26,090 shares in the company, valued at approximately $3,230,985.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 105,607 shares of company stock worth $13,184,846. 0.34% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Valeo Financial Advisors LLC boosted its holdings in shares of Splunk by 553.3% during the 4th quarter. Valeo Financial Advisors LLC now owns 196 shares of the software company’s stock valued at $29,000 after acquiring an additional 166 shares in the last quarter. Meeder Asset Management Inc. raised its position in Splunk by 42.4% during the 4th quarter. Meeder Asset Management Inc. now owns 198 shares of the software company’s stock worth $30,000 after purchasing an additional 59 shares during the last quarter. Golden State Wealth Management LLC bought a new position in Splunk during the 1st quarter worth $30,000. Harbor Investment Advisory LLC raised its position in Splunk by 1,513.3% during the 1st quarter. Harbor Investment Advisory LLC now owns 242 shares of the software company’s stock worth $31,000 after purchasing an additional 227 shares during the last quarter. Finally, Orion Portfolio Solutions LLC bought a new position in Splunk during the 4th quarter worth $35,000. 93.81% 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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