Splunk (NASDAQ:SPLK) Upgraded to “Overweight” by Barclays

Barclays upgraded shares of Splunk (NASDAQ:SPLK) from an equal weight rating to an overweight rating in a research report released on Monday, January 8th, MarketBeat Ratings reports. Barclays currently has $105.00 price objective on the software company’s stock, up from their prior price objective of $80.00.

Other equities research analysts also recently issued reports about the company. Robert W. Baird lifted their price objective on Splunk from $85.00 to $90.00 and gave the company an outperform rating in a report on Monday, December 18th. Citigroup reiterated a hold rating and issued a $73.00 target price on shares of Splunk in a research note on Monday, November 27th. Zacks Investment Research upgraded shares of Splunk from a hold rating to a buy rating and set a $92.00 price objective for the company in a research report on Tuesday, November 21st. Bank of America upped their target price on shares of Splunk from $80.00 to $95.00 and gave the company a buy rating in a research report on Friday, November 17th. Finally, FBN Securities upped their target price on shares of Splunk to $90.00 and gave the company an outperform rating in a research report on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Splunk presently has an average rating of Buy and a consensus target price of $83.62.

Shares of Splunk (SPLK) opened at $89.64 on Monday. Splunk has a 12-month low of $52.89 and a 12-month high of $90.69. The company has a market capitalization of $12,680.33, a price-to-earnings ratio of -20.65 and a beta of 2.07.

Splunk (NASDAQ:SPLK) last posted its quarterly earnings data on Thursday, November 16th. The software company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.59. Splunk had a negative return on equity of 72.06% and a negative net margin of 32.72%. The business had revenue of $328.65 million for the quarter, compared to analyst estimates of $309.01 million. equities research analysts predict that Splunk will post -1.3 earnings per share for the current fiscal year.

In other news, CFO David F. Conte sold 6,993 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $80.73, for a total transaction of $564,544.89. Following the completion of the transaction, the chief financial officer now owns 110,364 shares of the company’s stock, valued at $8,909,685.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Leonard R. Stein sold 4,851 shares of the firm’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $80.54, for a total transaction of $390,699.54. Following the transaction, the senior vice president now directly owns 89,157 shares of the company’s stock, valued at approximately $7,180,704.78. The disclosure for this sale can be found here. Insiders have sold a total of 201,036 shares of company stock worth $14,132,192 in the last quarter. 1.43% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Zions Bancorporation bought a new position in shares of Splunk during the third quarter valued at $591,000. Royal Bank of Canada raised its stake in Splunk by 13.5% during the second quarter. Royal Bank of Canada now owns 52,243 shares of the software company’s stock worth $2,972,000 after buying an additional 6,212 shares during the last quarter. Motley Fool Asset Management LLC raised its stake in Splunk by 8.4% during the third quarter. Motley Fool Asset Management LLC now owns 167,500 shares of the software company’s stock worth $11,127,000 after buying an additional 13,000 shares during the last quarter. Advisor Group Inc. raised its stake in Splunk by 51.4% during the third quarter. Advisor Group Inc. now owns 6,126 shares of the software company’s stock worth $406,000 after buying an additional 2,080 shares during the last quarter. Finally, Sit Investment Associates Inc. raised its stake in Splunk by 23.4% during the third quarter. Sit Investment Associates Inc. now owns 24,275 shares of the software company’s stock worth $1,613,000 after buying an additional 4,600 shares during the last quarter.

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Splunk Company Profile

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.

Analyst Recommendations for Splunk (NASDAQ:SPLK)

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