Splunk (NASDAQ:SPLK) Price Target Raised to $185.00 at Raymond James

Splunk (NASDAQ:SPLK) had its target price lifted by Raymond James from $140.00 to $185.00 in a report issued on Friday morning, The Fly reports. The brokerage currently has an outperform rating on the software company’s stock.

Several other analysts have also issued reports on the company. Bank of America restated a buy rating and issued a $225.00 price objective on shares of Splunk in a research note on Thursday, March 5th. Oppenheimer upped their price objective on Splunk from $154.00 to $170.00 in a research note on Thursday, March 5th. Piper Sandler upped their price objective on Splunk from $150.00 to $185.00 and gave the company an overweight rating in a research note on Friday. Wedbush upped their price objective on Splunk from $180.00 to $204.00 and gave the company an outperform rating in a research note on Friday. Finally, Zacks Investment Research lowered Splunk from a hold rating to a sell rating and set a $158.00 price objective on the stock. in a research note on Monday, May 11th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the stock. Splunk has a consensus rating of Buy and an average target price of $175.06.

NASDAQ SPLK traded up $20.81 during trading hours on Friday, hitting $184.26. 8,753,828 shares of the company traded hands, compared to its average volume of 1,623,223. The business’s 50-day moving average is $135.50 and its 200-day moving average is $142.29. Splunk has a twelve month low of $93.92 and a twelve month high of $185.26. 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 stock has a market capitalization of $25.96 billion, a price-to-earnings ratio of -58.68 and a beta of 1.52.

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

In other Splunk news, SVP Scott Morgan sold 1,724 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $165.00, for a total value of $284,460.00. Following the sale, the senior vice president now owns 88,114 shares of the company’s stock, valued at approximately $14,538,810. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Timothy Tully sold 6,580 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $121.80, for a total value of $801,444.00. Following the completion of the sale, the senior vice president now directly owns 88,417 shares in the company, valued at approximately $10,769,190.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 105,607 shares of company stock worth $13,184,846. Corporate insiders own 0.34% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Valeo Financial Advisors LLC boosted its holdings in shares of Splunk by 553.3% in the 4th quarter. Valeo Financial Advisors LLC now owns 196 shares of the software company’s stock valued at $29,000 after purchasing an additional 166 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of Splunk by 42.4% in the 4th quarter. Meeder Asset Management Inc. now owns 198 shares of the software company’s stock valued at $30,000 after purchasing an additional 59 shares in the last quarter. Orion Portfolio Solutions LLC acquired a new stake in shares of Splunk in the 4th quarter valued at $35,000. Golden State Wealth Management LLC acquired a new stake in shares of Splunk in the 1st quarter valued at $30,000. Finally, Harbor Investment Advisory LLC boosted its holdings in shares of Splunk by 1,513.3% in the 1st quarter. Harbor Investment Advisory LLC now owns 242 shares of the software company’s stock valued at $31,000 after purchasing an additional 227 shares in the last quarter. 93.81% of the stock is currently owned by hedge funds and other institutional investors.

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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