Splunk (NASDAQ:SPLK) Given New $190.00 Price Target at Credit Suisse Group

Splunk (NASDAQ:SPLK) had its price target hoisted by Credit Suisse Group from $160.00 to $190.00 in a research report released on Friday, The Fly reports. Credit Suisse Group currently has an outperform rating on the software company’s stock.

A number of other equities analysts have also recently commented on the stock. Zacks Investment Research cut shares of Splunk from a hold rating to a sell rating and set a $158.00 target price on the stock. in a report on Monday, May 11th. JPMorgan Chase & Co. lifted their target price on shares of Splunk from $152.00 to $174.00 and gave the company an overweight rating in a report on Tuesday, March 3rd. Wedbush boosted their price objective on shares of Splunk from $195.00 to $200.00 and gave the company an outperform rating in a research note on Thursday, March 5th. ValuEngine raised shares of Splunk from a hold rating to a buy rating in a research note on Tuesday, March 10th. Finally, SunTrust Banks dropped their price objective on shares of Splunk from $190.00 to $180.00 and set a buy rating on the stock in a research note on Tuesday, April 14th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $175.06.

Shares of Splunk stock traded up $20.81 during trading on Friday, reaching $184.26. The company’s stock had a trading volume of 8,753,828 shares, compared to its average volume of 1,623,223. The company has a 50-day moving average price of $135.50 and a two-hundred day moving average price of $142.29. The firm has a market cap of $25.96 billion, a PE ratio of -58.68 and a beta of 1.52. Splunk has a fifty-two week low of $93.92 and a fifty-two week high of $185.26. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.98.

Splunk (NASDAQ:SPLK) last announced its earnings results on Thursday, May 21st. The software company reported ($0.56) EPS for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.01. The business had revenue of $434.08 million for the quarter, compared to analysts’ expectations of $443.60 million. Splunk had a negative net margin of 20.56% and a negative return on equity of 17.54%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.02 EPS. On average, analysts predict that Splunk will post -3.23 earnings per share for the current fiscal year.

In related news, SVP Timothy Tully sold 6,580 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $121.80, for a total value of $801,444.00. Following the sale, the senior vice president now directly owns 88,417 shares in the company, valued at approximately $10,769,190.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ledger Susan St. sold 17,338 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $122.06, for a total transaction of $2,116,276.28. Following the completion of the transaction, the insider now owns 162,650 shares in the company, valued at $19,853,059. The disclosure for this sale can be found here. Insiders sold a total of 105,607 shares of company stock worth $13,184,846 over the last quarter. Insiders own 0.34% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Clearbridge Investments LLC lifted its holdings in Splunk by 0.9% in the 1st quarter. Clearbridge Investments LLC now owns 4,845,224 shares of the software company’s stock valued at $611,613,000 after purchasing an additional 44,910 shares in the last quarter. APG Asset Management N.V. lifted its holdings in Splunk by 59.1% in the 1st quarter. APG Asset Management N.V. now owns 201,445 shares of the software company’s stock valued at $25,428,000 after purchasing an additional 74,800 shares in the last quarter. Sandler Capital Management purchased a new position in Splunk in the 1st quarter valued at about $9,379,000. Capital Asset Advisory Services LLC lifted its holdings in Splunk by 22.7% in the 1st quarter. Capital Asset Advisory Services LLC now owns 1,561 shares of the software company’s stock valued at $233,000 after purchasing an additional 289 shares in the last quarter. Finally, Verity Asset Management Inc. purchased a new position in Splunk in the 1st quarter valued at about $365,000. Institutional investors own 93.81% of the company’s stock.

Splunk Company Profile

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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Analyst Recommendations for Splunk (NASDAQ:SPLK)

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