Splunk (NASDAQ:SPLK) Given New $190.00 Price Target at Oppenheimer

Splunk (NASDAQ:SPLK) had its target price raised by Oppenheimer from $145.00 to $190.00 in a report issued on Friday, The Fly reports. The brokerage currently has an outperform rating on the software company’s stock.

Several other equities analysts also recently issued reports on the stock. Rosenblatt Securities reaffirmed a buy rating and set a $200.00 price objective on shares of Splunk in a report on Tuesday. Morgan Stanley increased their price objective on shares of Splunk from $158.00 to $172.00 and gave the company an overweight rating in a report on Friday. UBS Group increased their price objective on shares of Splunk from $176.00 to $186.00 and gave the company a buy rating in a report on Thursday, March 5th. Deutsche Bank reduced their target price on shares of Splunk from $170.00 to $140.00 and set a buy rating for the company in a research report on Friday, April 3rd. Finally, Jefferies Financial Group increased their target price on shares of Splunk from $145.00 to $150.00 and gave the company a buy rating in a research report on Monday, April 13th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $175.06.

NASDAQ SPLK traded up $20.81 during mid-day trading on Friday, reaching $184.26. 8,753,828 shares of the stock were exchanged, compared to its average volume of 1,623,223. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.15 and a current ratio of 2.15. The company has a market capitalization of $25.96 billion, a P/E ratio of -58.68 and a beta of 1.52. Splunk has a 1 year low of $93.92 and a 1 year high of $185.26. The business’s 50 day moving average is $135.50 and its 200-day moving average is $142.29.

Splunk (NASDAQ:SPLK) last posted its quarterly earnings data on Thursday, May 21st. The software company reported ($0.56) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.57) by $0.01. The business had revenue of $434.08 million for the quarter, compared to the consensus estimate 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 revenue was up 2.2% compared to the same quarter last year. During the same period last year, the firm posted $0.02 earnings per share. Equities analysts predict that Splunk will post -3.23 earnings per share for the current fiscal year.

In other Splunk news, CEO Douglas Merritt sold 7,001 shares of Splunk stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $100.07, for a total transaction of $700,590.07. Following the completion of the sale, the chief executive officer now directly owns 267,563 shares in the company, valued at $26,775,029.41. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ledger Susan St. sold 17,338 shares of Splunk 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 sale, the insider now owns 162,650 shares of the company’s stock, valued at $19,853,059. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 105,607 shares of company stock valued at $13,184,846. Company insiders own 0.34% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Clearbridge Investments LLC boosted its stake in shares of Splunk by 0.9% in the first 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 during the period. APG Asset Management N.V. boosted its stake in shares of Splunk by 59.1% in the first 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 during the period. Sandler Capital Management purchased a new position in shares of Splunk in the first quarter valued at approximately $9,379,000. Capital Asset Advisory Services LLC boosted its stake in shares of Splunk by 22.7% in the first 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 during the period. Finally, Verity Asset Management Inc. purchased a new position in shares of Splunk in the first quarter valued at approximately $365,000. 93.81% of the stock is owned by institutional investors and hedge funds.

About Splunk

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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