Splunk (SPLK) Price Target Raised to $138.00 at Stifel Nicolaus

Splunk (NASDAQ:SPLK) had its target price lifted by Stifel Nicolaus from $120.00 to $138.00 in a research note released on Friday, The Fly reports. They currently have a buy rating on the software company’s stock.

SPLK has been the topic of several other research reports. Jefferies Financial Group boosted their price target on Splunk to $136.00 and gave the company a buy rating in a research report on Friday, May 25th. Morgan Stanley boosted their price target on Splunk from $100.00 to $109.00 and gave the company a hold rating in a research report on Friday, May 25th. BidaskClub cut Splunk from a strong-buy rating to a buy rating in a research report on Saturday, June 23rd. Zacks Investment Research upgraded Splunk from a hold rating to a buy rating and set a $116.00 price target on the stock in a research report on Thursday, May 3rd. Finally, Piper Jaffray Companies boosted their target price on Splunk from $115.00 to $130.00 and gave the stock an overweight rating in a research report on Monday, May 21st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $119.00.

Shares of SPLK stock opened at $121.18 on Friday. The stock has a market capitalization of $17.94 billion, a P/E ratio of -92.50 and a beta of 1.81. Splunk has a 52-week low of $62.39 and a 52-week high of $126.43.

Splunk (NASDAQ:SPLK) last issued its quarterly earnings results on Thursday, August 23rd. The software company reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.03. The firm had revenue of $388.30 million for the quarter, compared to analysts’ expectations of $358.46 million. Splunk had a negative return on equity of 28.26% and a negative net margin of 20.55%. The firm’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 EPS. equities analysts expect that Splunk will post -1.25 earnings per share for the current fiscal year.

In other news, insider Douglas Merritt sold 32,949 shares of the business’s stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $117.90, for a total transaction of $3,884,687.10. Following the sale, the insider now owns 293,095 shares of the company’s stock, valued at approximately $34,555,900.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David F. Conte sold 15,517 shares of the business’s stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $117.93, for a total value of $1,829,919.81. Following the sale, the chief financial officer now directly owns 152,333 shares in the company, valued at approximately $17,964,630.69. The disclosure for this sale can be found here. Insiders have sold a total of 70,426 shares of company stock worth $8,319,665 in the last three months. Corporate insiders own 0.36% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Splunk by 2.3% during the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 21,994 shares of the software company’s stock worth $2,164,000 after acquiring an additional 500 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Splunk by 11.8% during the 1st quarter. IFP Advisors Inc now owns 4,831 shares of the software company’s stock worth $475,000 after acquiring an additional 510 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Splunk by 1.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 44,395 shares of the software company’s stock worth $4,400,000 after acquiring an additional 606 shares in the last quarter. Guggenheim Capital LLC boosted its stake in shares of Splunk by 1.1% during the 1st quarter. Guggenheim Capital LLC now owns 58,879 shares of the software company’s stock worth $5,793,000 after acquiring an additional 665 shares in the last quarter. Finally, Gulf International Bank UK Ltd boosted its stake in shares of Splunk by 1.6% during the 1st quarter. Gulf International Bank UK Ltd now owns 42,454 shares of the software company’s stock worth $4,177,000 after acquiring an additional 675 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.

Splunk Company Profile

Splunk Inc provides software solutions that enable organizations to gain real-time operational intelligence in the United States and internationally. Its products enable users to collect, index, search, explore, monitor, correlate, and analyze data regardless of format or source. The company offers Splunk Enterprise, a machine data platform with collection, indexing, search, reporting, analysis, alerting, monitoring, and data management capabilities; and Splunk Cloud.

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