Splunk (NASDAQ:SPLK) Price Target Increased to $172.00 by Analysts at Morgan Stanley

Splunk (NASDAQ:SPLK) had its price target upped by Morgan Stanley from $158.00 to $172.00 in a research note published on Friday morning, AnalystRatings.com reports. They currently have an overweight rating on the software company’s stock.

Other equities research analysts also recently issued research reports about the company. Piper Sandler boosted their target price on Splunk from $150.00 to $185.00 and gave the stock an overweight rating in a research report on Friday. Royal Bank of Canada boosted their target price on Splunk from $180.00 to $190.00 and gave the stock an outperform rating in a research report on Friday. Stifel Nicolaus boosted their target price on Splunk from $160.00 to $190.00 and gave the stock a buy rating in a research report on Friday. Rosenblatt Securities restated a buy rating and set a $200.00 target price on shares of Splunk in a research report on Tuesday. Finally, Jefferies Financial Group boosted their target price on Splunk from $145.00 to $150.00 and gave the stock a buy rating in a research report on Monday, April 13th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $175.06.

Splunk stock traded up $20.81 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 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 cap of $25.96 billion, a price-to-earnings ratio of -58.68 and a beta of 1.52. The business’s fifty day moving average price is $135.50 and its 200 day moving average price is $142.29. Splunk has a twelve month low of $93.92 and a twelve month high of $185.26.

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

In other news, insider Ledger Susan St. sold 300 shares of the company’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $125.16, for a total transaction of $37,548.00. Following the completion of the transaction, the insider now directly owns 188,167 shares of the company’s stock, valued at $23,550,981.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Timothy Tully sold 6,580 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $121.80, for a total value of $801,444.00. Following the transaction, the senior vice president now directly owns 88,417 shares of the company’s stock, valued at $10,769,190.60. The disclosure for this sale can be found here. Insiders have sold 105,607 shares of company stock valued at $13,184,846 over the last ninety days. 0.34% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. CSS LLC IL acquired a new position in Splunk during the fourth quarter valued at approximately $231,000. Baillie Gifford & Co. boosted its position in Splunk by 4.2% during the fourth quarter. Baillie Gifford & Co. now owns 353,377 shares of the software company’s stock valued at $52,926,000 after purchasing an additional 14,088 shares during the last quarter. Beck Bode LLC boosted its position in Splunk by 1.4% during the fourth quarter. Beck Bode LLC now owns 47,994 shares of the software company’s stock valued at $7,188,000 after purchasing an additional 659 shares during the last quarter. Aviva PLC boosted its position in Splunk by 2.5% during the fourth quarter. Aviva PLC now owns 54,102 shares of the software company’s stock valued at $8,103,000 after purchasing an additional 1,303 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Splunk by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 505,117 shares of the software company’s stock valued at $75,652,000 after purchasing an additional 16,295 shares during the last quarter. 93.81% of the stock is owned by hedge funds and other institutional investors.

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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