Splunk (NASDAQ:SPLK) PT Lowered to $130.00

Splunk (NASDAQ:SPLKGet Rating) had its price target cut by investment analysts at Piper Sandler from $150.00 to $130.00 in a report released on Thursday, The Fly reports. Piper Sandler’s price objective points to a potential upside of 39.60% from the stock’s previous close.

A number of other research firms have also recently issued reports on SPLK. Deutsche Bank Aktiengesellschaft boosted their price objective on Splunk from $140.00 to $145.00 and gave the company a “hold” rating in a report on Thursday, March 3rd. Rosenblatt Securities restated a “buy” rating and set a $185.00 price objective on shares of Splunk in a report on Thursday, March 3rd. Morgan Stanley lowered their target price on Splunk from $152.00 to $138.00 and set an “equal weight” rating for the company in a report on Thursday, May 19th. The Goldman Sachs Group upped their target price on Splunk from $205.00 to $232.00 and gave the stock a “buy” rating in a report on Monday, March 7th. Finally, JPMorgan Chase & Co. lowered their target price on Splunk from $140.00 to $133.00 and set a “neutral” rating for the company in a report on Thursday, March 3rd. Eleven equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $148.00.

Shares of Splunk stock opened at $93.12 on Thursday. The stock has a market cap of $14.99 billion, a price-to-earnings ratio of -11.29 and a beta of 1.32. The company has a debt-to-equity ratio of 14.09, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a 50 day moving average price of $122.99 and a 200-day moving average price of $122.16. Splunk has a one year low of $84.63 and a one year high of $176.66.

Splunk (NASDAQ:SPLKGet Rating) last announced its earnings results on Wednesday, May 25th. The software company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($1.87) by $1.55. The firm had revenue of $674.08 million during the quarter, compared to analysts’ expectations of $629.73 million. Splunk had a negative return on equity of 128.38% and a negative net margin of 50.08%. The company’s quarterly revenue was up 34.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.84) EPS. Sell-side analysts predict that Splunk will post -4.83 earnings per share for the current fiscal year.

In other Splunk news, CAO Timothy Emanuelson sold 389 shares of the business’s stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $125.00, for a total transaction of $48,625.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Scott Morgan sold 1,588 shares of the company’s stock in a transaction dated Wednesday, March 16th. The stock was 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 quarter, insiders have sold 2,491 shares of company stock worth $295,240. Company insiders own 0.27% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of SPLK. Consolidated Planning Corp purchased a new position in Splunk during the third quarter worth approximately $29,000. Sterling Investment Advisors Ltd. purchased a new position in Splunk during the first quarter worth approximately $30,000. Wolverine Asset Management LLC boosted its position in Splunk by 109.2% during the first quarter. Wolverine Asset Management LLC now owns 235 shares of the software company’s stock worth $34,000 after purchasing an additional 2,800 shares in the last quarter. SJS Investment Consulting Inc. boosted its position in Splunk by 66.4% during the first quarter. SJS Investment Consulting Inc. now owns 228 shares of the software company’s stock worth $34,000 after purchasing an additional 91 shares in the last quarter. Finally, First Command Bank purchased a new position in Splunk during the third quarter worth approximately $43,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

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.

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