Splunk (NASDAQ:SPLK) Price Target Raised to $130.00 at Bank of America

Splunk (NASDAQ:SPLK – Get Rating) had its price objective upped by Bank of America from $125.00 to $130.00 in a report published on Thursday morning, The Fly reports.

A number of other brokerages have also recently issued reports on SPLK. Rosenblatt Securities reaffirmed a buy rating and issued a $130.00 price objective on shares of Splunk in a research note on Tuesday, February 28th. Cowen upped their price objective on shares of Splunk from $95.00 to $100.00 and gave the company a market perform rating in a research note on Tuesday, February 21st. William Blair started coverage on shares of Splunk in a report on Wednesday, April 19th. They set an outperform rating for the company. Piper Sandler upped their price target on shares of Splunk from $118.00 to $123.00 in a report on Thursday. Finally, Citigroup upped their price target on shares of Splunk from $105.00 to $110.00 and gave the company a neutral rating in a report on Friday, March 3rd. Nine equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Splunk has a consensus 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 one year low of $65.00 and a one year high of $116.84. The firm has a 50 day simple moving average of $90.47 and a two-hundred day simple moving average of $90.70.

Splunk (NASDAQ:SPLK – Get Rating) last announced its quarterly earnings data on Wednesday, March 1st. The software company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $1.41. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.07 billion. As a group, sell-side analysts expect 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 that occurred 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 completion of the sale, the director now owns 14,481 shares of the company’s stock, valued at $1,520,505. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Splunk news, SVP Scott Morgan sold 2,000 shares of Splunk 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 completion of the sale, the senior vice president now owns 115,907 shares of the company’s stock, valued at approximately $11,711,243.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Elisa Steele sold 3,050 shares of Splunk stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $105.00, for a total transaction of $320,250.00. Following the completion of the sale, the director now directly owns 14,481 shares of the company’s stock, valued at approximately $1,520,505. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.

Institutional Investors Weigh In On Splunk

Large investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System grew its position in Splunk by 4.2% in the 4th quarter. Arizona State Retirement System now owns 46,053 shares of the software company’s stock worth $3,965,000 after purchasing an additional 1,875 shares during the period. Seven Eight Capital LP bought a new stake in shares of Splunk during the 3rd quarter valued at $688,000. Future Fund LLC grew its position in shares of Splunk by 6.2% during the 3rd quarter. Future Fund LLC now owns 3,358 shares of the software company’s stock valued at $253,000 after acquiring an additional 195 shares during the period. Hillsdale Investment Management Inc. bought a new stake in shares of Splunk during the 3rd quarter valued at $444,000. Finally, Biltmore Family Office LLC bought a new stake in shares of Splunk during the 4th quarter valued at $391,000. Institutional investors own 85.71% of the company’s stock.

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.