Splunk (NASDAQ:SPLK) had its target price upped by analysts at Argus from $156.00 to $215.00 in a report issued on Tuesday, The Fly reports. The brokerage currently has a "buy" rating on the software company's stock. Argus' price target suggests a potential upside of 16.68% from the stock's previous close.
Several other equities research analysts also recently commented on SPLK. Stifel Nicolaus upped their target price on shares of Splunk from $160.00 to $190.00 and gave the company a "buy" rating in a research note on Friday. BMO Capital Markets upped their target price on shares of Splunk from $177.00 to $190.00 in a research note on Friday. Cowen cut shares of Splunk from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $165.00 to $140.00 in a report on Friday, April 24th. Oppenheimer upped their price target on shares of Splunk from $145.00 to $190.00 and gave the company an "outperform" rating in a report on Friday. Finally, JMP Securities upped their price target on shares of Splunk from $155.00 to $200.00 and gave the company an "outperform" rating in a report on Friday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. The stock currently has a consensus rating of "Buy" and a consensus target price of $178.22.
SPLK opened at $184.26 on Tuesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.15 and a quick ratio of 2.15. The company has a market cap of $29.27 billion, a price-to-earnings ratio of -58.68 and a beta of 1.52. The firm has a 50 day simple moving average of $140.21 and a 200 day simple moving average of $143.22. Splunk has a fifty-two week low of $93.92 and a fifty-two week high of $185.26.
Splunk (NASDAQ:SPLK) last posted its quarterly earnings results on Thursday, May 21st. The software company reported ($0.56) earnings per share for the quarter, topping the Zacks' consensus estimate of ($0.57) by $0.01. Splunk had a negative net margin of 20.56% and a negative return on equity of 17.54%. The business had revenue of $434.08 million during the quarter, compared to the consensus estimate of $443.60 million. During the same period in the previous year, the firm posted $0.02 earnings per share. Splunk's revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, analysts expect that Splunk will post -3.23 EPS for the current year.
In related news, insider Ledger Susan St. sold 2,047 shares of Splunk stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $163.19, for a total transaction of $334,049.93. Following the sale, the insider now directly owns 213,042 shares in the company, valued at approximately $34,766,323.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Douglas Merritt sold 7,001 shares of Splunk stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $100.07, for a total transaction of $700,590.07. Following the sale, the chief executive officer now owns 267,563 shares in the company, valued at $26,775,029.41. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 105,607 shares of company stock worth $13,184,846. 0.21% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in SPLK. Meeder Asset Management Inc. boosted its stake in Splunk by 42.4% in the fourth quarter. Meeder Asset Management Inc. now owns 198 shares of the software company's stock worth $30,000 after buying an additional 59 shares in the last quarter. FinTrust Capital Advisors LLC boosted its stake in Splunk by 2.5% in the first quarter. FinTrust Capital Advisors LLC now owns 2,785 shares of the software company's stock worth $351,000 after buying an additional 67 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in Splunk by 3.5% in the first quarter. Rockefeller Capital Management L.P. now owns 2,034 shares of the software company's stock worth $257,000 after buying an additional 68 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Splunk by 0.8% in the first quarter. Commonwealth Equity Services LLC now owns 8,566 shares of the software company's stock worth $1,081,000 after buying an additional 68 shares in the last quarter. Finally, CSat Investment Advisory L.P. boosted its stake in Splunk by 16.2% in the fourth quarter. CSat Investment Advisory L.P. now owns 494 shares of the software company's stock worth $74,000 after buying an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.
Splunk, Inc engages in the development and marketing of 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. The company was founded by Erik M.
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