Todays Report: Today, Splunk Inc. (SPLK) Rating Increased to Strong-Buy at Vetr Inc.

Today, Splunk Inc. (SPLK) Rating Increased to Strong-Buy at Vetr Inc.

Vetr upgraded shares of Splunk Inc. (NASDAQ:SPLK) from a buy rating to a strong-buy rating in a report published on Wednesday morning. Vetr currently has $66.00 price target on the software company’s stock.

Other research analysts have also issued reports about the stock. DA Davidson reiterated a buy rating and set a $83.00 price objective on shares of Splunk in a report on Wednesday, August 24th. Drexel Hamilton reiterated a buy rating and set a $85.00 price objective on shares of Splunk in a report on Tuesday, August 23rd. RBC Capital Markets reiterated a buy rating and set a $70.00 price objective (up from $60.00) on shares of Splunk in a report on Friday, August 19th. Stifel Nicolaus increased their price objective on shares of Splunk from $56.00 to $62.00 and gave the stock a buy rating in a report on Thursday, June 16th. Finally, Maxim Group increased their price objective on shares of Splunk from $75.00 to $84.00 and gave the stock a buy rating in a report on Thursday, July 21st. Eleven investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $67.55.

Splunk (NASDAQ:SPLK) opened at 56.89 on Wednesday. The firm’s market capitalization is $7.65 billion. Splunk has a one year low of $29.85 and a one year high of $66.90. The stock’s 50 day moving average price is $59.11 and its 200-day moving average price is $56.57.

Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Thursday, August 25th. The software company reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.02. The business had revenue of $212.80 million for the quarter, compared to analyst estimates 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 revenue was up 43.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 EPS. On average, equities research analysts anticipate that Splunk will post $0.29 earnings per share for the current fiscal year.

In other news, CFO David F. Conte sold 10,575 shares of Splunk stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $63.87, for a total transaction of $675,425.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Douglas Merritt sold 6,155 shares of Splunk stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $58.10, for a total value of $357,605.50. Following the sale, the insider now owns 164,117 shares of the company’s stock, valued at $9,535,197.70. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Aperio Group LLC raised its stake in shares of Splunk by 89.0% in the first quarter. Aperio Group LLC now owns 22,172 shares of the software company’s stock valued at $1,085,000 after buying an additional 10,443 shares in the last quarter. Ngam Advisors L.P. raised its stake in Splunk by 22.2% in the first quarter. Ngam Advisors L.P. now owns 22,227 shares of the software company’s stock valued at $1,088,000 after buying an additional 4,040 shares during the period. BlackRock Inc. raised its stake in Splunk by 17.1% in the first quarter. BlackRock Inc. now owns 96,675 shares of the software company’s stock valued at $4,731,000 after buying an additional 14,147 shares during the period. BlackRock Group LTD raised its stake in Splunk by 8.8% in the first quarter. BlackRock Group LTD now owns 746,224 shares of the software company’s stock valued at $36,514,000 after buying an additional 60,633 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Splunk by 2.3% in the first quarter. JPMorgan Chase & Co. now owns 3,524,304 shares of the software company’s stock valued at $172,444,000 after buying an additional 79,896 shares during the period. Institutional investors and hedge funds own 98.28% of the company’s stock.

About Splunk

Splunk Inc is a provider of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. It operates through the development and marketing of software solutions segment, which enables its customers to gain real-time operational intelligence by harnessing the value of their data.

Related posts

Leave a Comment