Splunk (NASDAQ:SPLK – Free Report) had its target price hoisted by Robert W. Baird from $130.00 to $135.00 in a report issued on Thursday morning, Marketbeat.com reports. Robert W. Baird currently has an outperform rating on the software company’s stock.
Other equities research analysts also recently issued research reports about the company. Capital One Financial initiated coverage on Splunk in a research report on Wednesday, August 9th. They issued an overweight rating and a $125.00 price objective on the stock. Wells Fargo & Company raised their price target on Splunk from $125.00 to $135.00 and gave the company an overweight rating in a research report on Thursday. Morgan Stanley restated an equal weight rating and set a $110.00 price target on shares of Splunk in a research report on Friday, June 30th. Deutsche Bank Aktiengesellschaft raised their price target on Splunk from $95.00 to $110.00 in a research report on Thursday, May 25th. Finally, TheStreet downgraded Splunk from a c- rating to a d rating in a research report on Thursday, May 25th. Twelve research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $123.26.
Read Our Latest Report on Splunk
Splunk Stock Up 12.9 %
Splunk (NASDAQ:SPLK – Get Free Report) last issued its quarterly earnings data on Wednesday, August 23rd. The software company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.25. Splunk had a negative return on equity of 17.89% and a negative net margin of 0.61%. The company had revenue of $910.59 million for the quarter, compared to the consensus estimate of $889.29 million. During the same quarter last year, the business posted ($0.94) earnings per share. The firm’s revenue was up 14.0% compared to the same quarter last year. On average, research analysts predict that Splunk will post -0.17 EPS for the current fiscal year.
Insider Buying and Selling at Splunk
In other news, SVP Christian Smith sold 1,500 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $105.64, for a total transaction of $158,460.00. Following the sale, the senior vice president now owns 109,453 shares of the company’s stock, valued at $11,562,614.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Splunk news, SVP Scott Morgan sold 4,996 shares of the company’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $104.19, for a total value of $520,533.24. Following the completion of the transaction, the senior vice president now owns 122,889 shares in the company, valued at $12,803,804.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Christian Smith sold 1,500 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $105.64, for a total transaction of $158,460.00. Following the completion of the transaction, the senior vice president now owns 109,453 shares of the company’s stock, valued at approximately $11,562,614.92. The disclosure for this sale can be found here. Insiders have sold a total of 16,384 shares of company stock valued at $1,712,330 over the last quarter. 0.17% of the stock is owned by company insiders.
Institutional Investors Weigh In On Splunk
Hedge funds have recently made changes to their positions in the business. Key Financial Inc boosted its stake in shares of Splunk by 1,153.8% during the first quarter. Key Financial Inc now owns 326 shares of the software company’s stock worth $31,000 after buying an additional 300 shares during the period. CENTRAL TRUST Co lifted its position in Splunk by 204.1% in the second quarter. CENTRAL TRUST Co now owns 298 shares of the software company’s stock valued at $32,000 after purchasing an additional 200 shares during the period. Allworth Financial LP lifted its position in Splunk by 54.1% in the first quarter. Allworth Financial LP now owns 353 shares of the software company’s stock valued at $34,000 after purchasing an additional 124 shares during the period. Brown Brothers Harriman & Co. lifted its position in shares of Splunk by 191.2% during the 1st quarter. Brown Brothers Harriman & Co. now owns 364 shares of the software company’s stock valued at $35,000 after acquiring an additional 239 shares during the period. Finally, Pacer Advisors Inc. raised its position in shares of Splunk by 171.7% during the 2nd quarter. Pacer Advisors Inc. now owns 326 shares of the software company’s stock worth $35,000 after purchasing an additional 206 shares during the last quarter. Institutional investors and hedge funds own 86.58% of the company’s stock.
About Splunk
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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