Splunk (NASDAQ:SPLK) Given New $115.00 Price Target at Mizuho

Splunk (NASDAQ:SPLK – Get Rating) had its price target upped by Mizuho from $110.00 to $115.00 in a research note released on Thursday, The Fly reports.

A number of other brokerages also recently weighed in on SPLK. William Blair began coverage on shares of Splunk in a research note on Wednesday, April 19th. They set an outperform rating for the company. Bank of America raised their target price on shares of Splunk from $110.00 to $125.00 and gave the company a buy rating in a research note on Wednesday, February 22nd. StockNews.com raised shares of Splunk from a hold rating to a buy rating in a research report on Wednesday, May 17th. Citigroup raised their price target on shares of Splunk from $105.00 to $110.00 and gave the company a neutral rating in a research report on Friday, March 3rd. Finally, Barclays raised their price target on shares of Splunk from $122.00 to $130.00 in a research report on Thursday. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $118.19.

Splunk Price Performance

SPLK stock opened at $95.70 on Thursday. Splunk has a 1 year low of $65.00 and a 1 year high of $116.84. The firm has a 50-day moving average of $90.47 and a 200 day moving average of $90.70.

Splunk (NASDAQ:SPLK – Get Rating) last announced its earnings results on Wednesday, March 1st. The software company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $1.41. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.07 billion. On average, sell-side analysts expect that Splunk will post -0.55 EPS for the current fiscal year.

Insider Transactions at Splunk

In other news, SVP Scott Morgan sold 2,000 shares of Splunk stock in a transaction on Monday, March 6th. The shares were sold at an average price of $101.04, for a total transaction of $202,080.00. Following the transaction, the senior vice president now owns 115,907 shares in the company, valued at approximately $11,711,243.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Scott Morgan sold 2,000 shares of the firm’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $101.04, for a total transaction of $202,080.00. Following the sale, the senior vice president now directly owns 115,907 shares in the company, valued at approximately $11,711,243.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Elisa Steele sold 3,050 shares of the firm’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $105.00, for a total transaction of $320,250.00. Following the sale, the director now owns 14,481 shares in the company, valued at $1,520,505. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Institutional Trading of Splunk

Institutional investors and hedge funds have recently modified their holdings of the company. Trifecta Capital Advisors LLC bought a new stake in Splunk in the 4th quarter valued at $25,000. New England Capital Financial Advisors LLC bought a new stake in Splunk in the 4th quarter valued at $25,000. Proficio Capital Partners LLC bought a new stake in Splunk in the 1st quarter valued at $30,000. Key Financial Inc increased its holdings in Splunk by 1,153.8% in the 1st quarter. Key Financial Inc now owns 326 shares of the software company’s stock valued at $31,000 after acquiring an additional 300 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in Splunk by 54.1% in the 1st quarter. Allworth Financial LP now owns 353 shares of the software company’s stock valued at $34,000 after acquiring an additional 124 shares during the last quarter. 85.71% of the stock is currently owned by institutional investors.

Splunk Company Profile

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Splunk, Inc engages in the development and marketing of cloud software solutions. Its products include Splunk cloud, Splunk light and Splunk enterprise. It also offers solutions for Information Technology operations, security, internet-of-things, application analytics, business analytics, and industries.