Splunk (NASDAQ:SPLK) Price Target Increased to $208.00 by Analysts at Bank of America

Splunk (NASDAQ:SPLK) had its price target lifted by Bank of America from $175.00 to $208.00 in a research report sent to investors on Friday, BenzingaRatingsTable reports. They currently have a buy rating on the software company’s stock.

Several other equities research analysts have also recently commented on SPLK. Wedbush lifted their price objective on shares of Splunk from $180.00 to $204.00 and gave the company an outperform rating in a research note on Friday. Raymond James boosted their price target on Splunk from $140.00 to $185.00 and gave the stock an outperform rating in a research report on Friday. Morgan Stanley increased their price objective on Splunk from $158.00 to $172.00 and gave the company an overweight rating in a report on Friday. Rosenblatt Securities restated a buy rating and issued a $200.00 target price on shares of Splunk in a report on Tuesday. Finally, UBS Group upped their target price on Splunk from $186.00 to $188.00 and gave the stock a buy rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. Splunk currently has a consensus rating of Buy and an average target price of $175.06.

Shares of SPLK traded up $20.81 during mid-day 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. Splunk has a 1 year low of $93.92 and a 1 year high of $185.26. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.98. 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 has a fifty day moving average of $135.50 and a 200 day moving average of $142.29.

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

In other news, CEO Douglas Merritt sold 7,001 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $100.07, for a total value of $700,590.07. Following the sale, the chief executive officer now owns 267,563 shares of the company’s stock, valued at approximately $26,775,029.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Timothy Tully sold 6,580 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $121.80, for a total transaction of $801,444.00. Following the sale, the senior vice president now owns 88,417 shares of the company’s stock, valued at approximately $10,769,190.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 105,607 shares of company stock valued at $13,184,846. 0.34% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. lifted its position in Splunk by 42.4% during the 4th 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 raised its stake in shares of 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 acquiring an additional 67 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of 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 acquiring an additional 68 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Splunk by 0.8% during the first quarter. Commonwealth Equity Services LLC now owns 8,566 shares of the software company’s stock worth $1,081,000 after purchasing an additional 68 shares in the last quarter. Finally, CSat Investment Advisory L.P. grew its stake in shares of Splunk by 16.2% during the fourth quarter. CSat Investment Advisory L.P. now owns 494 shares of the software company’s stock valued at $74,000 after purchasing an additional 69 shares during the last quarter. Hedge funds and other 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.

Featured Article: How do buyers and sellers choose a strike price?

Analyst Recommendations for Splunk (NASDAQ:SPLK)

Receive News & Ratings for Splunk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Splunk and related companies with MarketBeat.com's FREE daily email newsletter.