Splunk (SPLK) PT Raised to $130.00 at Credit Suisse Group

Splunk (NASDAQ:SPLK) had its target price upped by Credit Suisse Group from $125.00 to $130.00 in a report published on Friday morning. They currently have an outperform rating on the software company’s stock.

Several other equities research analysts also recently commented on the stock. Citigroup downgraded shares of Splunk from a neutral rating to a sell rating in a research report on Friday, June 15th. Bank of America boosted their target price on shares of Splunk from $128.00 to $135.00 and gave the stock a buy rating in a research report on Thursday, August 16th. Wedbush raised shares of Splunk from a neutral rating to an outperform rating and boosted their target price for the stock from $103.00 to $118.00 in a research report on Friday, April 27th. Maxim Group boosted their target price on shares of Splunk to $126.00 and gave the stock a buy rating in a research report on Friday, May 25th. Finally, Piper Jaffray Companies boosted their target price on shares of 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 assigned a hold rating, thirty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $119.00.

SPLK opened at $121.18 on Friday. Splunk has a 1-year low of $62.39 and a 1-year high of $126.43. The firm has a market capitalization of $17.94 billion, a price-to-earnings ratio of -92.50 and a beta of 1.81.

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

In related news, CFO David F. Conte sold 15,517 shares of the business’s stock in a transaction dated Wednesday, June 13th. The shares were sold at an average price of $117.93, for a total transaction of $1,829,919.81. Following the transaction, the chief financial officer now directly owns 152,333 shares in the company, valued at $17,964,630.69. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Graham Smith sold 4,000 shares of the business’s stock in a transaction dated Thursday, June 14th. The stock was sold at an average price of $121.01, for a total transaction of $484,040.00. Following the transaction, the director now owns 53,226 shares in the company, valued at $6,440,878.26. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 70,426 shares of company stock worth $8,319,665. 0.36% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in SPLK. BNP Paribas Arbitrage SA boosted its stake in Splunk by 119.5% in the second quarter. BNP Paribas Arbitrage SA now owns 23,673 shares of the software company’s stock valued at $2,346,000 after acquiring an additional 12,888 shares during the last quarter. First Trust Advisors LP boosted its stake in Splunk by 46.6% in the second quarter. First Trust Advisors LP now owns 984,523 shares of the software company’s stock valued at $97,576,000 after acquiring an additional 312,893 shares during the last quarter. Baillie Gifford & Co. boosted its stake in Splunk by 20.5% in the second quarter. Baillie Gifford & Co. now owns 249,001 shares of the software company’s stock valued at $24,679,000 after acquiring an additional 42,367 shares during the last quarter. Dupont Capital Management Corp boosted its stake in Splunk by 81.5% in the second quarter. Dupont Capital Management Corp now owns 5,671 shares of the software company’s stock valued at $562,000 after acquiring an additional 2,546 shares during the last quarter. Finally, Bank Hapoalim BM boosted its stake in Splunk by 19.2% in the second quarter. Bank Hapoalim BM now owns 4,565 shares of the software company’s stock valued at $452,000 after acquiring an additional 735 shares during the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.

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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