Splunk (NASDAQ:SPLK) Price Target Raised to $190.00 at Credit Suisse Group

Splunk (NASDAQ:SPLK) had its price objective increased by Credit Suisse Group from $160.00 to $190.00 in a report issued on Friday, The Fly reports. The firm currently has an outperform rating on the software company’s stock.

Several other research firms also recently commented on SPLK. Monness Crespi & Hardt downgraded shares of Splunk from a buy rating to a neutral rating in a report on Thursday, March 5th. Bank of America reaffirmed a buy rating and issued a $225.00 price objective on shares of Splunk in a report on Thursday, March 5th. Wells Fargo & Co reaffirmed a buy rating and issued a $200.00 price objective on shares of Splunk in a report on Thursday, March 5th. UBS Group increased their price target on shares of Splunk from $176.00 to $186.00 and gave the stock a buy rating in a report on Thursday, March 5th. Finally, Maxim Group increased their price target on shares of Splunk from $155.00 to $185.00 and gave the stock a buy rating in a report on Thursday, March 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $175.06.

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

Splunk (NASDAQ:SPLK) last released its quarterly earnings data on Thursday, May 21st. The software company reported ($0.56) EPS for the quarter, beating the consensus estimate of ($0.57) by $0.01. The business had revenue of $434.08 million for the quarter, compared to the consensus estimate of $443.60 million. Splunk had a negative net margin of 20.56% and a negative return on equity of 17.54%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.02 EPS. As a group, equities research analysts predict that Splunk will post -3.23 earnings per share for the current year.

In other news, SVP Timothy Tully sold 6,580 shares of the stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $121.80, for a total value of $801,444.00. Following the completion of the sale, the senior vice president now directly owns 88,417 shares in the company, valued at $10,769,190.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ledger Susan St. sold 2,047 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $163.19, for a total transaction of $334,049.93. Following the completion of the sale, the insider now owns 213,042 shares of the company’s stock, valued at $34,766,323.98. The disclosure for this sale can be found here. Insiders sold 105,607 shares of company stock valued at $13,184,846 over the last quarter. Company insiders own 0.34% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Clearbridge Investments LLC increased its position in Splunk by 0.9% during the first quarter. Clearbridge Investments LLC now owns 4,845,224 shares of the software company’s stock worth $611,613,000 after purchasing an additional 44,910 shares during the last quarter. APG Asset Management N.V. increased its position in Splunk by 59.1% during the first quarter. APG Asset Management N.V. now owns 201,445 shares of the software company’s stock worth $25,428,000 after purchasing an additional 74,800 shares during the last quarter. Sandler Capital Management acquired a new stake in Splunk during the first quarter worth about $9,379,000. Capital Asset Advisory Services LLC increased its position in Splunk by 22.7% during the first quarter. Capital Asset Advisory Services LLC now owns 1,561 shares of the software company’s stock worth $233,000 after purchasing an additional 289 shares during the last quarter. Finally, Verity Asset Management Inc. acquired a new stake in Splunk during the first quarter worth about $365,000. Hedge funds and other institutional investors own 93.81% of the company’s stock.

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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