Zacks Investment Research downgraded shares of Splunk (NASDAQ:SPLK) from a buy rating to a hold rating in a research note issued to investors on Friday morning.
According to Zacks, “Splunk Inc. provides a software platform, which collects and indexes data and enables users to search, correlate, analyze, monitor and report on this data, all in real time. Its software is designed to help users in various roles, including IT and business professionals. Splunk Inc. is based in San Francisco, California. “
SPLK has been the subject of a number of other reports. KeyCorp upped their target price on shares of Splunk from $120.00 to $132.00 and gave the company an overweight rating in a report on Thursday, October 4th. Morgan Stanley set a $110.00 target price on shares of Splunk and gave the company a hold rating in a report on Friday, November 30th. Bank of America upped their target price on shares of Splunk from $128.00 to $135.00 and gave the company a buy rating in a report on Thursday, August 16th. Piper Jaffray Companies cut their price target on shares of Splunk to $120.00 and set an overweight rating for the company in a report on Monday, November 26th. Finally, Rosenblatt Securities reissued a buy rating and set a $135.00 price target on shares of Splunk in a report on Sunday, August 26th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. Splunk presently has a consensus rating of Buy and a consensus price target of $128.22.
Shares of NASDAQ:SPLK traded down $5.44 on Friday, reaching $105.66. The company’s stock had a trading volume of 2,521,509 shares, compared to its average volume of 2,478,552. Splunk has a 52-week low of $79.21 and a 52-week high of $130.00. The stock has a market capitalization of $16.11 billion, a price-to-earnings ratio of -80.66 and a beta of 2.13.
Splunk (NASDAQ:SPLK) last announced its earnings results on Thursday, November 29th. The software company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.61. Splunk had a negative net margin of 18.92% and a negative return on equity of 22.60%. The business had revenue of $480.98 million during the quarter, compared to analysts’ expectations of $433.60 million. During the same period in the prior year, the company earned $0.17 earnings per share. The business’s revenue was up 40.4% compared to the same quarter last year. On average, equities research analysts forecast that Splunk will post -1.07 earnings per share for the current fiscal year.
In other Splunk news, Director Mark T. Carges sold 2,091 shares of the stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $124.87, for a total value of $261,103.17. Following the completion of the transaction, the director now directly owns 19,444 shares of the company’s stock, valued at $2,427,972.28. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Mark T. Carges sold 4,171 shares of the stock in a transaction dated Friday, November 30th. The shares were sold at an average price of $110.00, for a total transaction of $458,810.00. Following the completion of the transaction, the director now directly owns 15,273 shares of the company’s stock, valued at $1,680,030. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,203 shares of company stock valued at $9,099,674. 0.36% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of SPLK. FIL Ltd increased its holdings in Splunk by 182.3% in the third quarter. FIL Ltd now owns 1,565,684 shares of the software company’s stock valued at $189,307,000 after buying an additional 1,011,095 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Splunk by 1,838.0% in the second quarter. Victory Capital Management Inc. now owns 485,866 shares of the software company’s stock valued at $48,154,000 after buying an additional 460,796 shares in the last quarter. FMR LLC increased its holdings in Splunk by 36.4% in the third quarter. FMR LLC now owns 1,159,890 shares of the software company’s stock valued at $140,242,000 after buying an additional 309,395 shares in the last quarter. AQR Capital Management LLC increased its holdings in Splunk by 245.5% in the third quarter. AQR Capital Management LLC now owns 431,412 shares of the software company’s stock valued at $52,162,000 after buying an additional 306,564 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in Splunk by 3.8% in the second quarter. BlackRock Inc. now owns 8,074,220 shares of the software company’s stock valued at $800,235,000 after buying an additional 298,117 shares in the last quarter. 91.41% of the stock is owned by institutional investors.
Splunk Inc provides software solutions that enable organizations to gain real-time operational intelligence in the United States and internationally. Its products enable users to collect, index, search, explore, monitor, correlate, and analyze data regardless of format or source. The company offers Splunk Enterprise, a machine data platform with collection, indexing, search, reporting, analysis, alerting, monitoring, and data management capabilities; and Splunk Cloud.
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