Todays Report: The Splunk Inc. (SPLK) Now Covered by Analysts at JPMorgan Chase & Co.

The Splunk Inc. (SPLK) Now Covered by Analysts at JPMorgan Chase & Co.

Research analysts at JPMorgan Chase & Co. initiated coverage on shares of Splunk Inc. (NASDAQ:SPLK) in a research note issued to investors on Friday. The firm set an “overweight” rating on the software company’s stock.

Other equities analysts also recently issued research reports about the stock. Vetr upgraded shares of Splunk from a “sell” rating to a “buy” rating and set a $67.00 price target for the company in a research note on Tuesday, September 6th. Summit Redstone restated a “buy” rating and issued a $72.00 price target on shares of Splunk in a research note on Tuesday, September 6th. Citigroup Inc. downgraded shares of Splunk from a “buy” rating to a “neutral” rating and set a $62.00 price target for the company. in a research note on Wednesday, July 20th. Stifel Nicolaus boosted their price target on shares of Splunk from $56.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, June 16th. Finally, Drexel Hamilton restated a “buy” rating and issued a $85.00 price target on shares of Splunk in a research note on Wednesday, July 13th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $67.55.

Shares of Splunk (NASDAQ:SPLK) traded up 1.7275% during trading on Friday, reaching $57.3133. The company had a trading volume of 333,989 shares. The firm’s market capitalization is $7.71 billion. Splunk has a 1-year low of $29.85 and a 1-year high of $66.90. The firm has a 50-day moving average of $59.40 and a 200 day moving average of $56.33.

Splunk (NASDAQ:SPLK) last posted its quarterly earnings results on Thursday, August 25th. The software company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.02. The business earned $212.80 million during the quarter, compared to the consensus estimate of $200.52 million. Splunk had a negative net margin of 42.84% and a negative return on equity of 38.45%. The company’s quarterly revenue was up 43.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 earnings per share. Analysts expect that Splunk will post $0.29 earnings per share for the current year.

In other Splunk news, SVP Steven R. Sommer sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $63.80, for a total transaction of $319,000.00. Following the transaction, the senior vice president now owns 212,527 shares of the company’s stock, valued at $13,559,222.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Godfrey Sullivan sold 40,000 shares of the stock in a transaction that occurred on Wednesday, October 12th. The stock was sold at an average price of $57.66, for a total transaction of $2,306,400.00. Following the transaction, the director now directly owns 311,676 shares in the company, valued at approximately $17,971,238.16. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the company. LS Investment Advisors LLC increased its position in Splunk by 5.5% in the second quarter. LS Investment Advisors LLC now owns 2,367 shares of the software company’s stock worth $128,000 after buying an additional 123 shares in the last quarter. Advisor Group Inc. acquired a new position in shares of Splunk during the second quarter worth approximately $157,000. Seven Eight Capital LLC acquired a new position in shares of Splunk during the second quarter worth approximately $193,000. Shelton Capital Management acquired a new position in shares of Splunk during the second quarter worth approximately $206,000. Finally, Pacer Advisors Inc. increased its position in shares of Splunk by 986.4% in the second quarter. Pacer Advisors Inc. now owns 3,846 shares of the software company’s stock worth $208,000 after buying an additional 3,492 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors.

Splunk Company Profile

Related posts

Leave a Comment