Splunk (NASDAQ:SPLK) Price Target Raised to $190.00 at DA Davidson

Splunk (NASDAQ:SPLK) had its price objective lifted by DA Davidson from $120.00 to $190.00 in a research report report published on Friday morning, The Fly reports.

A number of other equities research analysts have also recently commented on the stock. Royal Bank of Canada increased their target price on shares of Splunk from $180.00 to $190.00 and gave the company an outperform rating in a research report on Friday. Needham & Company LLC raised their price objective on shares of Splunk from $168.00 to $192.00 and gave the stock a buy rating in a research report on Friday. Deutsche Bank cut their price objective 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. Raymond James raised their price objective on shares of Splunk from $140.00 to $185.00 and gave the stock an outperform rating in a research report on Friday. Finally, Oppenheimer raised their price objective on shares of Splunk from $145.00 to $190.00 and gave the stock an outperform rating in a research report on Friday. 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 issued a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $175.06.

Shares of NASDAQ 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. The stock has a 50-day moving average of $135.50 and a two-hundred day moving average of $142.29. The stock has a market capitalization of $25.96 billion, a P/E ratio of -58.68 and a beta of 1.52. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.15 and a current ratio of 2.15. Splunk has a 1-year low of $93.92 and a 1-year high of $185.26.

Splunk (NASDAQ:SPLK) last issued its earnings results on Thursday, May 21st. The software company reported ($0.56) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.57) by $0.01. The business had revenue of $434.08 million during 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.02 earnings per share. Analysts predict that Splunk will post -3.23 EPS for the current fiscal year.

In related news, insider Ledger Susan St. sold 17,338 shares of Splunk stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $122.06, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Timothy Tully sold 6,580 shares of Splunk stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $121.80, for a total transaction of $801,444.00. Following the completion of the transaction, 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. In the last three months, insiders sold 105,607 shares of company stock valued at $13,184,846. Insiders own 0.34% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Valeo Financial Advisors LLC lifted its stake in Splunk by 553.3% in the fourth quarter. Valeo Financial Advisors LLC now owns 196 shares of the software company’s stock worth $29,000 after acquiring an additional 166 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in Splunk by 42.4% in the fourth quarter. Meeder Asset Management Inc. now owns 198 shares of the software company’s stock worth $30,000 after acquiring an additional 59 shares during the last quarter. Orion Portfolio Solutions LLC purchased a new position in Splunk in the fourth quarter worth approximately $35,000. Golden State Wealth Management LLC purchased a new position in Splunk in the first quarter worth approximately $30,000. Finally, Harbor Investment Advisory LLC lifted its position in shares of Splunk by 1,513.3% during the 1st quarter. Harbor Investment Advisory LLC now owns 242 shares of the software company’s stock worth $31,000 after buying an additional 227 shares during the last quarter. Institutional investors own 93.81% of the company’s stock.

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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