Splunk (NASDAQ:SPLK) Given New $138.00 Price Target at Morgan Stanley

Splunk (NASDAQ:SPLKGet Rating) had its price target decreased by investment analysts at Morgan Stanley from $152.00 to $138.00 in a report issued on Thursday, Stock Target Advisor reports. The firm presently has an “equal weight” rating on the software company’s stock. Morgan Stanley’s price objective suggests a potential upside of 43.27% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Citigroup boosted their price objective on shares of Splunk from $120.00 to $145.00 and gave the company a “neutral” rating in a research report on Thursday, March 10th. Mizuho lowered their price objective on shares of Splunk from $130.00 to $110.00 and set a “neutral” rating for the company in a research report on Wednesday. Needham & Company LLC lowered their price objective on shares of Splunk from $181.00 to $145.00 and set a “buy” rating for the company in a research report on Friday, March 4th. JPMorgan Chase & Co. lowered their price objective on shares of Splunk from $140.00 to $133.00 and set a “neutral” rating for the company in a research report on Thursday, March 3rd. Finally, Oppenheimer lowered their price objective on shares of Splunk from $203.00 to $175.00 and set an “outperform” rating for the company in a research report on Thursday, March 3rd. Eleven research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $158.78.

Shares of NASDAQ SPLK traded up $0.64 during midday trading on Thursday, reaching $96.32. The company’s stock had a trading volume of 34,433 shares, compared to its average volume of 2,105,285. The company has a debt-to-equity ratio of 14.09, a quick ratio of 1.56 and a current ratio of 1.56. Splunk has a fifty-two week low of $84.63 and a fifty-two week high of $176.66. The business’s 50 day moving average price is $125.16 and its two-hundred day moving average price is $124.61. The company has a market cap of $15.50 billion, a P/E ratio of -11.68 and a beta of 1.32.

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

In other Splunk news, SVP Scott Morgan sold 1,588 shares of the company’s stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $112.25, for a total transaction of $178,253.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Timothy Emanuelson sold 257 shares of the company’s stock in a transaction on Thursday, April 14th. The shares were sold at an average price of $141.00, for a total transaction of $36,237.00. Following the sale, the chief accounting officer now directly owns 22,239 shares in the company, valued at approximately $3,135,699. The disclosure for this sale can be found here. Insiders have sold 2,491 shares of company stock worth $295,240 in the last ninety days. Insiders own 0.27% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Worldquant Millennium Advisors LLC acquired a new position in shares of Splunk during the first quarter valued at about $4,786,000. Wealthfront Advisers LLC raised its holdings in shares of Splunk by 49.4% during the first quarter. Wealthfront Advisers LLC now owns 6,371 shares of the software company’s stock valued at $946,000 after purchasing an additional 2,107 shares during the period. Mirabella Financial Services LLP raised its holdings in shares of Splunk by 78.1% during the first quarter. Mirabella Financial Services LLP now owns 14,476 shares of the software company’s stock valued at $2,151,000 after purchasing an additional 6,348 shares during the period. Meiji Yasuda Life Insurance Co raised its holdings in shares of Splunk by 3.6% during the first quarter. Meiji Yasuda Life Insurance Co now owns 3,062 shares of the software company’s stock valued at $455,000 after purchasing an additional 105 shares during the period. Finally, Wealth Architects LLC acquired a new position in shares of Splunk during the first quarter valued at about $490,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

About Splunk (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.

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