Splunk (NASDAQ:SPLK) Price Target Raised to $190.00

Splunk (NASDAQ:SPLK) had its price objective boosted by Oppenheimer from $145.00 to $190.00 in a report released on Friday morning, The Fly reports. They currently have an outperform rating on the software company’s stock.

Other research analysts have also issued reports about the stock. Needham & Company LLC upped their target price on shares of Splunk from $168.00 to $192.00 and gave the company a buy rating in a report on Friday. Zacks Investment Research lowered shares of Splunk from a hold rating to a sell rating and set a $158.00 target price on the stock. in a report on Monday, May 11th. Royal Bank of Canada upped their target price on shares of Splunk from $180.00 to $190.00 and gave the company an outperform rating in a report on Friday. Cowen lowered shares of Splunk from an outperform rating to a market perform rating and reduced their target price for the company from $165.00 to $140.00 in a report on Friday, April 24th. Finally, BMO Capital Markets upped their price objective on shares of Splunk from $155.00 to $177.00 and gave the company an outperform rating in a research note on Thursday, March 5th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. Splunk presently has a consensus rating of Buy and a consensus price target of $175.06.

Shares of Splunk stock traded up $20.81 on Friday, hitting $184.26. The company’s stock had a trading volume of 8,753,828 shares, compared to its average volume of 1,623,223. Splunk has a 52-week low of $93.92 and a 52-week high of $185.26. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.98. The firm has a fifty day moving average price of $135.50 and a 200-day moving average price of $142.29. The company has a market capitalization of $25.96 billion, a P/E ratio of -58.68 and a beta of 1.52.

Splunk (NASDAQ:SPLK) last released its quarterly earnings data on Thursday, May 21st. The software company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.01. The business had revenue of $434.08 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.02 EPS. As a group, analysts expect that Splunk will post -3.23 earnings per share for the current year.

In other Splunk news, SVP Timothy Tully sold 6,580 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $121.80, for a total value of $801,444.00. Following the completion of the transaction, the senior vice president now owns 88,417 shares in the company, valued at approximately $10,769,190.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Scott Morgan sold 1,724 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $165.00, for a total value of $284,460.00. Following the completion of the transaction, the senior vice president now owns 88,114 shares of the company’s stock, valued at approximately $14,538,810. The disclosure for this sale can be found here. In the last 90 days, insiders sold 105,607 shares of company stock valued at $13,184,846. 0.34% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. boosted its stake in shares of Splunk by 42.4% during the 4th quarter. Meeder Asset Management Inc. now owns 198 shares of the software company’s stock valued at $30,000 after buying an additional 59 shares during the last quarter. FinTrust Capital Advisors LLC boosted its stake in shares of Splunk by 2.5% during the 1st quarter. FinTrust Capital Advisors LLC now owns 2,785 shares of the software company’s stock valued at $351,000 after buying an additional 67 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Splunk by 3.5% during the 1st quarter. Rockefeller Capital Management L.P. now owns 2,034 shares of the software company’s stock valued at $257,000 after buying an additional 68 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Splunk by 0.8% during the 1st quarter. Commonwealth Equity Services LLC now owns 8,566 shares of the software company’s stock valued at $1,081,000 after buying an additional 68 shares during the last quarter. Finally, CSat Investment Advisory L.P. boosted its stake in shares of Splunk by 16.2% during the 4th quarter. CSat Investment Advisory L.P. now owns 494 shares of the software company’s stock valued at $74,000 after buying an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 93.81% of the company’s stock.

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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