Splunk (NASDAQ:SPLK) Price Target Increased to $123.00 by Analysts at Piper Sandler

Splunk (NASDAQ:SPLK – Get Rating) had its target price upped by Piper Sandler from $118.00 to $123.00 in a report published on Thursday morning, The Fly reports.

Several other analysts have also weighed in on SPLK. Needham & Company LLC upped their target price on Splunk from $120.00 to $125.00 in a report on Thursday. TheStreet raised Splunk from a d rating to a c- rating in a research note on Thursday, March 2nd. StockNews.com raised Splunk from a hold rating to a buy rating in a research note on Wednesday, May 17th. Citigroup increased their price objective on Splunk from $105.00 to $110.00 and gave the company a neutral rating in a research note on Friday, March 3rd. Finally, Rosenblatt Securities reaffirmed a buy rating and set a $130.00 price objective on shares of Splunk in a research note on Tuesday, February 28th. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, Splunk presently has a consensus rating of Moderate Buy and a consensus target price of $118.19.

Splunk Stock Performance

Splunk 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 stock’s 50 day moving average price is $90.47 and its 200 day moving average price is $90.70.

Splunk (NASDAQ:SPLK – Get Rating) last posted its earnings results on Wednesday, March 1st. The software company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $1.41. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.07 billion. As a group, sell-side analysts forecast that Splunk will post -0.55 EPS for the current fiscal year.

Insider Activity at Splunk

In related news, Director Elisa Steele sold 3,050 shares of the firm’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $105.00, for a total transaction of $320,250.00. Following the sale, the director now directly owns 14,481 shares in the company, valued at approximately $1,520,505. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Elisa Steele sold 3,050 shares of the firm’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $105.00, for a total transaction of $320,250.00. Following the sale, the director now directly owns 14,481 shares in the company, valued at approximately $1,520,505. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Scott Morgan sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $101.04, for a total value of $202,080.00. Following the sale, the senior vice president now owns 115,907 shares of the company’s stock, valued at approximately $11,711,243.28. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Splunk

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

Splunk Company Profile

(Get Rating)

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.