Splunk (NASDAQ:SPLK) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Splunk (NASDAQ:SPLKGet Free Report) in a report released on Saturday. The brokerage set a “buy” rating on the software company’s stock.

Several other equities analysts also recently issued reports on the company. Truist Financial upped their target price on Splunk from $130.00 to $157.00 and gave the company a “buy” rating in a research report on Friday, September 22nd. KeyCorp increased their price target on Splunk from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, August 24th. Barclays increased their price target on Splunk from $130.00 to $134.00 and gave the stock an “overweight” rating in a research report on Thursday, August 24th. Wedbush reaffirmed a “neutral” rating and set a $105.00 price target on shares of Splunk in a research report on Friday, September 22nd. Finally, William Blair downgraded Splunk from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 21st. Twenty-three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $132.68.

Get Our Latest Research Report on Splunk

Splunk Price Performance

NASDAQ SPLK opened at $147.00 on Friday. The stock’s fifty day moving average price is $140.52 and its 200 day moving average price is $114.54. Splunk has a 1 year low of $72.17 and a 1 year high of $148.50. The company has a market cap of $24.78 billion, a price-to-earnings ratio of -445.45, a PEG ratio of 12.05 and a beta of 1.09.

Splunk (NASDAQ:SPLKGet Free Report) last released its earnings results on Wednesday, August 23rd. The software company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.25. Splunk had a negative return on equity of 22.78% and a negative net margin of 0.61%. The firm had revenue of $910.59 million for the quarter, compared to the consensus estimate of $889.29 million. During the same period in the prior year, the firm earned ($0.94) EPS. The firm’s revenue was up 14.0% on a year-over-year basis. Research analysts expect that Splunk will post 0.41 earnings per share for the current year.

Insider Activity at Splunk

In other Splunk news, Director Elisa Steele sold 3,050 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $112.00, for a total value of $341,600.00. Following the transaction, the director now directly owns 13,920 shares of the company’s stock, valued at approximately $1,559,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Splunk news, SVP Scott Morgan sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $144.50, for a total value of $578,000.00. Following the transaction, the senior vice president now directly owns 114,535 shares of the company’s stock, valued at approximately $16,550,307.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Elisa Steele sold 3,050 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $112.00, for a total transaction of $341,600.00. Following the completion of the transaction, the director now directly owns 13,920 shares in the company, valued at $1,559,040. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,962 shares of company stock valued at $3,363,113. 0.17% of the stock is owned by corporate insiders.

Institutional Trading of Splunk

Institutional investors have recently made changes to their positions in the company. Financial Gravity Asset Management Inc. purchased a new stake in shares of Splunk during the 2nd quarter valued at approximately $710,000. Venturi Wealth Management LLC purchased a new stake in shares of Splunk during the 3rd quarter valued at approximately $42,000. CENTRAL TRUST Co raised its position in shares of Splunk by 204.1% during the 2nd quarter. CENTRAL TRUST Co now owns 298 shares of the software company’s stock valued at $32,000 after buying an additional 200 shares during the period. First Command Advisory Services Inc. purchased a new stake in shares of Splunk during the 3rd quarter valued at approximately $44,000. Finally, Key Financial Inc raised its position in shares of Splunk by 1,153.8% during the 1st quarter. Key Financial Inc now owns 326 shares of the software company’s stock valued at $31,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 87.56% of the company’s stock.

About Splunk

(Get Free Report)

Splunk Inc, together with its subsidiaries, develops and markets cloud services and licensed software solutions in the United States and internationally. The company offers unified security and observability platform, including Splunk Security that helps security leaders fortify their organization's digital resilience by mitigating cyber risk and meeting compliance requirements; and Splunk Observability, which provides visibility across the full stack of infrastructure, applications, and the digital customer experience.

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Analyst Recommendations for Splunk (NASDAQ:SPLK)

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