Barclays Trims Splunk (NASDAQ:SPLK) Target Price to $160.00

Splunk (NASDAQ:SPLK) had its target price lowered by Barclays from $184.00 to $160.00 in a research note published on Wednesday morning, The Fly reports.

SPLK has been the topic of several other research reports. Needham & Company LLC reduced their target price on shares of Splunk from $203.00 to $181.00 and set a buy rating on the stock in a research note on Thursday, December 2nd. Morgan Stanley cut their price target on shares of Splunk from $160.00 to $152.00 and set an equal weight rating on the stock in a research report on Thursday, December 2nd. Mizuho cut their price target on shares of Splunk from $165.00 to $135.00 and set a neutral rating on the stock in a research report on Thursday, December 2nd. Robert W. Baird cut their price target on shares of Splunk from $185.00 to $135.00 and set an outperform rating on the stock in a research report on Thursday, December 2nd. Finally, BMO Capital Markets cut their price target on shares of Splunk from $170.00 to $142.00 and set an outperform rating on the stock in a research report on Thursday, December 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Buy and a consensus price target of $166.07.

Shares of NASDAQ:SPLK opened at $122.62 on Wednesday. Splunk has a 12 month low of $105.45 and a 12 month high of $178.18. The company’s 50-day moving average price is $123.89 and its two-hundred day moving average price is $140.71. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 17.42. The firm has a market cap of $19.47 billion, a P/E ratio of -14.90 and a beta of 1.30.

Splunk (NASDAQ:SPLK) last issued its earnings results on Wednesday, December 1st. The software company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.36) by $0.99. The company had revenue of $664.75 million for the quarter, compared to analyst estimates of $646.52 million. Splunk had a negative net margin of 53.14% and a negative return on equity of 89.54%. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.96) EPS. As a group, equities analysts predict that Splunk will post -5.9 earnings per share for the current fiscal year.

In other news, Director Graham Smith sold 1,500 shares of Splunk stock in a transaction on Tuesday, October 26th. The stock was sold at an average price of $170.00, for a total transaction of $255,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Scott Morgan sold 838 shares of Splunk stock in a transaction on Thursday, December 16th. The stock was sold at an average price of $112.05, for a total value of $93,897.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,697 shares of company stock valued at $403,645. Company insiders own 0.27% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Spire Wealth Management lifted its holdings in shares of Splunk by 33.2% during the fourth quarter. Spire Wealth Management now owns 9,444 shares of the software company’s stock worth $1,093,000 after buying an additional 2,355 shares in the last quarter. Scout Investments Inc. raised its stake in Splunk by 54.0% in the fourth quarter. Scout Investments Inc. now owns 489,134 shares of the software company’s stock valued at $56,603,000 after purchasing an additional 171,529 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in Splunk by 1.2% in the fourth quarter. Louisiana State Employees Retirement System now owns 8,600 shares of the software company’s stock valued at $995,000 after purchasing an additional 100 shares in the last quarter. Sycomore Asset Management raised its stake in Splunk by 47.7% in the fourth quarter. Sycomore Asset Management now owns 32,500 shares of the software company’s stock valued at $3,754,000 after purchasing an additional 10,500 shares in the last quarter. Finally, Stratos Wealth Partners LTD. raised its stake in Splunk by 11.3% in the fourth quarter. Stratos Wealth Partners LTD. now owns 1,791 shares of the software company’s stock valued at $207,000 after purchasing an additional 182 shares in the last quarter. 83.80% of the stock is owned by institutional investors.

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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