Splunk Inc (SPLK) Receives Average Rating of “Buy” from Analysts

Shares of Splunk Inc (NASDAQ:SPLK) have been assigned a consensus rating of “Buy” from the thirty-six brokerages that are covering the firm. Ten equities research analysts have rated the stock with a hold recommendation and twenty-six have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $71.26.

Several brokerages have recently commented on SPLK. Robert W. Baird reaffirmed an “outperform” rating and set a $71.00 target price (up from $68.00) on shares of Splunk in a report on Saturday, February 25th. Mitsubishi UFJ Financial Group set a $71.00 target price on Splunk and gave the company a “buy” rating in a report on Saturday, February 25th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Splunk in a report on Friday. BTIG Research initiated coverage on Splunk in a research note on Monday. They issued a “buy” rating and a $80.00 price objective for the company. Finally, Wedbush reissued a “buy” rating and issued a $75.00 price objective on shares of Splunk in a research note on Tuesday, January 10th.

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Splunk (NASDAQ:SPLK) traded up 0.66% during trading on Friday, hitting $62.44. 793,774 shares of the company traded hands. Splunk has a 52-week low of $45.07 and a 52-week high of $66.46. The firm’s market cap is $8.63 billion. The company’s 50-day moving average is $61.28 and its 200 day moving average is $58.91.

Splunk (NASDAQ:SPLK) last announced its earnings results on Thursday, February 23rd. The software company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.17 by $0.08. Splunk had a negative return on equity of 41.28% and a negative net margin of 41.72%. The business earned $306.50 million during the quarter, compared to the consensus estimate of $288.15 million. During the same period in the prior year, the business posted $0.11 earnings per share. Splunk’s revenue was up 39.3% compared to the same quarter last year. On average, equities analysts anticipate that Splunk will post $0.60 earnings per share for the current year.

In other Splunk news, Director John G. Connors sold 50,000 shares of Splunk stock in a transaction on Thursday, March 30th. The stock was sold at an average price of $62.87, for a total value of $3,143,500.00. Following the completion of the transaction, the director now owns 106,470 shares in the company, valued at approximately $6,693,768.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Leonard R. Stein sold 1,209 shares of Splunk stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $60.00, for a total value of $72,540.00. Following the completion of the transaction, the senior vice president now owns 90,240 shares of the company’s stock, valued at approximately $5,414,400. The disclosure for this sale can be found here. Insiders have sold a total of 429,255 shares of company stock valued at $26,484,687 in the last 90 days. 3.00% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of SPLK. Allianz Asset Management AG increased its position in shares of Splunk by 104.8% in the fourth quarter. Allianz Asset Management AG now owns 1,791,740 shares of the software company’s stock valued at $91,648,000 after buying an additional 916,800 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its stake in Splunk by 516.0% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 968,979 shares of the software company’s stock valued at $56,859,000 after buying an additional 811,681 shares during the period. Sands Capital Management LLC boosted its stake in Splunk by 7.9% in the fourth quarter. Sands Capital Management LLC now owns 10,086,257 shares of the software company’s stock valued at $515,912,000 after buying an additional 739,569 shares during the period. Criterion Capital Management LLC boosted its stake in Splunk by 20.3% in the third quarter. Criterion Capital Management LLC now owns 3,452,941 shares of the software company’s stock valued at $202,619,000 after buying an additional 582,633 shares during the period. Finally, Norges Bank purchased a new stake in Splunk during the fourth quarter valued at approximately $29,361,000. Hedge funds and other institutional investors own 97.80% of the company’s stock.

About Splunk

Splunk Inc (Splunk) is engaged in the development and marketing of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. Its offerings address diverse data sets that are referred to as big data and are specifically used for machine data.

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