Splunk (NASDAQ:SPLK) PT Raised to $190.00

Splunk (NASDAQ:SPLK) had its price target hoisted by JPMorgan Chase & Co. from $174.00 to $190.00 in a research report sent to investors on Friday, The Fly reports. The firm currently has an overweight rating on the software company’s stock.

A number of other equities analysts also recently issued reports on the stock. Wedbush increased their price target on shares of Splunk from $180.00 to $204.00 and gave the stock an outperform rating in a research note on Friday. ValuEngine raised shares of Splunk from a hold rating to a buy rating in a research note on Tuesday, March 10th. Credit Suisse Group increased their price target on shares of Splunk from $160.00 to $190.00 and gave the stock an outperform rating in a research note on Friday. Deutsche Bank decreased their price target on shares of Splunk from $170.00 to $140.00 and set a buy rating for the company in a research note on Friday, April 3rd. Finally, Bank of America reaffirmed a buy rating and set a $225.00 target price on shares of Splunk in a research note on Thursday, March 5th. Two 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 presently has an average rating of Buy and an average target price of $175.06.

Shares of Splunk stock traded up $20.81 during 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 quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.98. The stock’s fifty day moving average is $135.50 and its 200 day moving average is $142.29. The firm has a market cap of $25.96 billion, a price-to-earnings 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.

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

In related news, CAO Timothy Emanuelson sold 934 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $122.41, for a total value of $114,330.94. Following the sale, the chief accounting officer now owns 26,898 shares in the company, valued at $3,292,584.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Timothy Tully sold 6,580 shares of the firm’s 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 sale, the senior vice president now owns 88,417 shares in the company, valued at approximately $10,769,190.60. The disclosure for this sale can be found here. Insiders sold 105,607 shares of company stock worth $13,184,846 in the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. boosted its stake in shares of 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 acquiring an additional 59 shares during the last quarter. FinTrust Capital Advisors LLC boosted its stake in shares of Splunk by 2.5% during the 1st 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. boosted its stake in shares of Splunk by 3.5% during the 1st 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 boosted its stake in shares of Splunk by 0.8% during the 1st quarter. Commonwealth Equity Services LLC now owns 8,566 shares of the software company’s stock worth $1,081,000 after acquiring an additional 68 shares during the last quarter. Finally, CSat Investment Advisory L.P. boosted its stake in shares of Splunk by 16.2% during the 4th quarter. CSat Investment Advisory L.P. now owns 494 shares of the software company’s stock worth $74,000 after acquiring an additional 69 shares during the last quarter. Institutional investors and hedge funds 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.

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