Splunk Inc. (NASDAQ:SPLK) had its target price reduced by stock analysts at Citigroup Inc. from $65.00 to $63.00 in a research report issued on Wednesday. The brokerage currently has a “neutral” rating on the software company’s stock. Citigroup Inc.’s price target points to a potential upside of 11.82% from the stock’s previous close.
Other analysts also recently issued research reports about the stock. DA Davidson reissued a “buy” rating and issued a $83.00 price objective on shares of Splunk in a research note on Wednesday, August 24th. Drexel Hamilton reissued a “buy” rating and issued a $85.00 price objective on shares of Splunk in a research note on Tuesday, August 23rd. RBC Capital Markets reissued a “buy” rating and issued a $70.00 price objective (up previously from $60.00) on shares of Splunk in a research note on Friday, August 19th. Maxim Group raised their price objective on shares of Splunk from $75.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, July 21st. Finally, Stifel Nicolaus lifted their price target on shares of Splunk from $56.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, June 16th. Twelve equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Splunk presently has a consensus rating of “Buy” and a consensus target price of $67.55.
Shares of Splunk (NASDAQ:SPLK) opened at 56.34 on Wednesday. The stock’s market cap is $7.58 billion. Splunk has a 1-year low of $29.85 and a 1-year high of $66.90. The company has a 50 day moving average price of $59.40 and a 200 day moving average price of $56.33.
Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Thursday, August 25th. The software company reported $0.05 earnings per share (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 firm’s quarterly revenue was up 43.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.03 earnings per share. On average, equities analysts anticipate that Splunk will post $0.29 EPS for the current year.
In related 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 completion of the transaction, the senior vice president now owns 212,527 shares of the company’s stock, valued at approximately $13,559,222.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Godfrey Sullivan sold 128,750 shares of the stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $58.93, for a total transaction of $7,587,237.50. Following the transaction, the director now directly owns 440,426 shares of the company’s stock, valued at approximately $25,954,304.18. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. LS Investment Advisors LLC boosted 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 during the last quarter. Advisor Group Inc. acquired a new stake in Splunk during the second quarter worth about $157,000. Seven Eight Capital LLC acquired a new stake in Splunk during the second quarter worth about $193,000. Shelton Capital Management acquired a new stake in Splunk during the second quarter worth about $206,000. Finally, Pacer Advisors Inc. raised its stake in 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 during the period. 98.34% of the stock is owned by hedge funds and other institutional investors.