Splunk (NASDAQ:SPLK) Price Target Raised to $175.00 at Mizuho

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Splunk (NASDAQ:SPLK) had its target price increased by investment analysts at Mizuho from $160.00 to $175.00 in a research note issued to investors on Thursday, The Fly reports. The firm currently has a “buy” rating on the software company’s stock. Mizuho’s price objective would suggest a potential upside of 1.44% from the stock’s previous close.

A number of other equities analysts have also recently commented on SPLK. Cowen reaffirmed a “buy” rating and set a $160.00 price objective on shares of Splunk in a research report on Monday, November 18th. Northland Securities reaffirmed a “buy” rating and set a $160.00 price objective on shares of Splunk in a research report on Friday, November 22nd. Wedbush reaffirmed an “outperform” rating on shares of Splunk in a research report on Friday, December 20th. Goldman Sachs Group raised shares of Splunk from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $147.00 to $180.00 in a research report on Monday, December 2nd. Finally, First Analysis cut shares of Splunk from an “outperform” rating to a “neutral” rating and set a $157.00 price objective for the company. in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company. Splunk currently has an average rating of “Buy” and an average price target of $161.55.

SPLK stock opened at $172.52 on Thursday. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.33 and a quick ratio of 2.33. The company has a fifty day moving average price of $157.20 and a two-hundred day moving average price of $134.15. Splunk has a one year low of $107.16 and a one year high of $173.84. The stock has a market cap of $26.91 billion, a price-to-earnings ratio of -82.94 and a beta of 2.02.

Splunk (NASDAQ:SPLK) last released its quarterly earnings data on Thursday, November 21st. The software company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.04. Splunk had a negative net margin of 14.24% and a negative return on equity of 11.03%. The firm had revenue of $626.00 million during the quarter, compared to analysts’ expectations of $605.20 million. During the same period in the previous year, the business posted $0.38 earnings per share. The company’s revenue for the quarter was up 30.1% compared to the same quarter last year. Research analysts anticipate that Splunk will post -0.86 EPS for the current fiscal year.

In related news, Director Graham Smith sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $148.64, for a total transaction of $1,486,400.00. Following the completion of the sale, the director now owns 45,179 shares of the company’s stock, valued at $6,715,406.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Timothy Emanuelson sold 3,260 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $146.90, for a total transaction of $478,894.00. Following the sale, the chief accounting officer now directly owns 31,042 shares of the company’s stock, valued at approximately $4,560,069.80. The disclosure for this sale can be found here. In the last three months, insiders sold 53,827 shares of company stock valued at $8,003,783. 0.34% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. lifted its position in Splunk by 42.4% during the fourth quarter. Meeder Asset Management Inc. now owns 198 shares of the software company’s stock worth $30,000 after purchasing an additional 59 shares during the period. CSat Investment Advisory L.P. lifted its position in Splunk by 16.2% during the fourth quarter. CSat Investment Advisory L.P. now owns 494 shares of the software company’s stock worth $74,000 after purchasing an additional 69 shares during the period. Nations Financial Group Inc. IA ADV lifted its position in Splunk by 4.7% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 1,755 shares of the software company’s stock worth $263,000 after purchasing an additional 79 shares during the period. CWM LLC lifted its position in Splunk by 17.1% during the fourth quarter. CWM LLC now owns 590 shares of the software company’s stock worth $88,000 after purchasing an additional 86 shares during the period. Finally, Jackson Wealth Management LLC lifted its position in Splunk by 0.7% during the fourth quarter. Jackson Wealth Management LLC now owns 12,981 shares of the software company’s stock worth $2,040,000 after purchasing an additional 87 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

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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