Robert W. Baird restated their outperform rating on shares of Splunk Inc. (NASDAQ:SPLK) in a research report sent to investors on Monday, July 10th. Robert W. Baird currently has a $71.00 target price on the software company’s stock.
Several other equities analysts also recently commented on SPLK. UBS AG set a $72.00 price target on shares of Splunk and gave the company a buy rating in a research note on Tuesday, March 21st. BidaskClub cut shares of Splunk from a buy rating to a hold rating in a report on Saturday, June 10th. BMO Capital Markets restated an outperform rating and set a $71.00 price target on shares of Splunk in a report on Thursday, March 30th. Susquehanna Bancshares Inc initiated coverage on shares of Splunk in a research report on Wednesday, June 7th. They issued a neutral rating and a $68.00 price target for the company. Finally, MKM Partners restated a neutral rating and set a $63.00 price objective (up from $60.00) on shares of Splunk in a research note on Tuesday, May 30th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $70.77.
Shares of Splunk (NASDAQ:SPLK) traded down 0.17% during midday trading on Monday, hitting $58.89. 958,271 shares of the company traded hands. Splunk has a 12-month low of $50.64 and a 12-month high of $69.23. The stock’s 50-day moving average is $58.98 and its 200 day moving average is $61.15. The stock’s market capitalization is $8.15 billion.
Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Thursday, May 25th. The software company reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.03. Splunk had a negative net margin of 35.19% and a negative return on equity of 40.82%. The business had revenue of $242.40 million for the quarter, compared to analyst estimates of $233.79 million. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. The firm’s revenue for the quarter was up 30.4% on a year-over-year basis. On average, analysts expect that Splunk will post $0.52 earnings per share for the current year.
In other Splunk news, SVP Leonard R. Stein sold 4,851 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $58.20, for a total value of $282,328.20. Following the completion of the sale, the senior vice president now owns 103,909 shares in the company, valued at approximately $6,047,503.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO David F. Conte sold 1,044 shares of the firm’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $62.20, for a total transaction of $64,936.80. Following the transaction, the chief financial officer now owns 207,965 shares in the company, valued at approximately $12,935,423. The disclosure for this sale can be found here. In the last 90 days, insiders sold 358,056 shares of company stock worth $20,784,524. Company insiders own 3.00% of the company’s stock.
Several institutional investors have recently made changes to their positions in SPLK. DnB Asset Management AS acquired a new stake in shares of Splunk during the first quarter valued at approximately $685,000. Bank of Montreal Can boosted its position in shares of Splunk by 293.5% in the first quarter. Bank of Montreal Can now owns 103,462 shares of the software company’s stock worth $6,445,000 after buying an additional 77,166 shares in the last quarter. Gulf International Bank UK Ltd boosted its position in shares of Splunk by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 41,660 shares of the software company’s stock worth $2,595,000 after buying an additional 500 shares in the last quarter. Chevy Chase Trust Holdings Inc. bought a new position in Splunk during the first quarter valued at $1,860,000. Finally, Deane Retirement Strategies Inc. boosted its position in Splunk by 5.3% in the first quarter. Deane Retirement Strategies Inc. now owns 30,691 shares of the software company’s stock valued at $1,913,000 after buying an additional 1,535 shares during the period.
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.
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