Splunk Inc. (NASDAQ:SPLK) Receives Consensus Recommendation of “Buy” from Analysts

Splunk Inc. (NASDAQ:SPLKGet Rating) has been assigned a consensus rating of “Buy” from the twenty-nine ratings firms that are covering the company, Marketbeat reports. Eleven investment analysts have rated the stock with a hold recommendation and eighteen have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $160.07.

A number of analysts have issued reports on the company. StockNews.com assumed coverage on Splunk in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Needham & Company LLC cut their price objective on Splunk from $181.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday, March 4th. Daiwa Capital Markets raised Splunk from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $134.00 to $140.00 in a research report on Friday, March 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $185.00 price objective on shares of Splunk in a research report on Thursday, March 3rd. Finally, The Goldman Sachs Group upped their price objective on Splunk from $205.00 to $232.00 and gave the stock a “buy” rating in a research report on Monday, March 7th.

Shares of NASDAQ SPLK opened at $129.00 on Tuesday. The firm has a market cap of $20.73 billion, a price-to-earnings ratio of -15.64 and a beta of 1.27. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 14.09. Splunk has a 52-week low of $105.45 and a 52-week high of $176.66. The business’s 50 day moving average is $129.45 and its two-hundred day moving average is $130.75.

Splunk (NASDAQ:SPLKGet Rating) last announced its earnings results on Wednesday, March 2nd. The software company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.85. The company had revenue of $901.12 million for the quarter, compared to analyst estimates of $774.08 million. Splunk had a negative return on equity of 128.38% and a negative net margin of 50.08%. During the same quarter in the previous year, the company earned ($0.61) earnings per share. Analysts anticipate that Splunk will post -4.83 EPS for the current fiscal year.

In other Splunk news, CAO Timothy Emanuelson sold 257 shares of Splunk stock in a transaction that occurred on Thursday, April 14th. The stock was sold at an average price of $141.00, for a total transaction of $36,237.00. Following the transaction, the chief accounting officer now owns 22,239 shares of the company’s stock, valued at $3,135,699. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Scott Morgan sold 1,588 shares of the business’s stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $112.25, for a total value of $178,253.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,269 shares of company stock worth $392,490. 0.27% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Toronto Dominion Bank boosted its position in Splunk by 0.3% during the third quarter. Toronto Dominion Bank now owns 23,624 shares of the software company’s stock worth $3,418,000 after purchasing an additional 68 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in Splunk by 2.3% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,535 shares of the software company’s stock worth $512,000 after buying an additional 80 shares during the period. Hanson & Doremus Investment Management lifted its position in Splunk by 0.7% during the first quarter. Hanson & Doremus Investment Management now owns 11,193 shares of the software company’s stock worth $1,663,000 after buying an additional 82 shares during the period. Camden Capital LLC lifted its position in Splunk by 6.0% during the third quarter. Camden Capital LLC now owns 1,497 shares of the software company’s stock worth $217,000 after buying an additional 85 shares during the period. Finally, Krilogy Financial LLC increased its stake in Splunk by 0.8% during the fourth quarter. Krilogy Financial LLC now owns 11,414 shares of the software company’s stock worth $1,321,000 after acquiring an additional 93 shares during the last quarter. 85.09% of the stock is currently owned by hedge funds and other institutional investors.

Splunk Company Profile (Get Rating)

Splunk Inc, together with its subsidiaries, provides software and cloud solutions that deliver and operationalize insights from the data generated by digital systems in the United States and internationally. The company offers Splunk Platform, a real-time data platform comprising collection, streaming, indexing, search, reporting, analysis, machine learning, alerting, monitoring, and data management capabilities.

Further Reading

Analyst Recommendations for Splunk (NASDAQ:SPLK)

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