Jefferies Financial Group reiterated their buy rating on shares of Splunk (NASDAQ:SPLK) in a research report released on Tuesday morning, BenzingaRatingsTable reports. They currently have a $157.00 target price on the software company’s stock. Jefferies Financial Group also issued estimates for Splunk’s Q3 2020 earnings at ($0.19) EPS, Q4 2020 earnings at $0.14 EPS, Q1 2021 earnings at ($0.71) EPS, Q2 2021 earnings at ($0.38) EPS, Q3 2021 earnings at ($0.07) EPS, Q4 2021 earnings at $0.29 EPS and FY2021 earnings at ($0.86) EPS.
A number of other equities research analysts also recently issued reports on the stock. Credit Suisse Group cut their price objective on shares of Splunk from $160.00 to $150.00 and set an outperform rating for the company in a research report on Thursday, August 22nd. Maxim Group set a $148.00 target price on shares of Splunk and gave the stock a buy rating in a report on Thursday, September 5th. Citigroup dropped their target price on shares of Splunk from $106.00 to $102.00 and set a sell rating for the company in a report on Friday, August 23rd. Bank of America reaffirmed a buy rating and issued a $167.00 target price on shares of Splunk in a report on Thursday, September 19th. Finally, Rosenblatt Securities started coverage on shares of Splunk in a report on Monday, September 9th. They issued a buy rating and a $150.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-four have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $146.60.
Shares of SPLK stock opened at $120.81 on Tuesday. Splunk has a 1 year low of $83.69 and a 1 year high of $143.70. The firm has a fifty day moving average price of $116.01 and a 200-day moving average price of $125.36. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.06 and a quick ratio of 3.06. The company has a market cap of $18.02 billion, a price-to-earnings ratio of -75.98 and a beta of 2.06.
Splunk (NASDAQ:SPLK) last issued its quarterly earnings data on Wednesday, August 21st. The software company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.16. Splunk had a negative net margin of 15.16% and a negative return on equity of 12.73%. The firm had revenue of $516.56 million during the quarter, compared to the consensus estimate of $488.97 million. During the same quarter in the previous year, the firm posted $0.08 EPS. The company’s revenue for the quarter was up 33.0% compared to the same quarter last year. Equities research analysts expect that Splunk will post -0.83 EPS for the current year.
In other Splunk news, SVP Timothy Tully sold 4,391 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $115.21, for a total value of $505,887.11. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Douglas Merritt sold 13,341 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $115.20, for a total transaction of $1,536,883.20. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the business. MML Investors Services LLC raised its position in shares of Splunk by 6.8% during the 1st quarter. MML Investors Services LLC now owns 8,977 shares of the software company’s stock valued at $1,119,000 after buying an additional 574 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in shares of Splunk by 187.6% during the 1st quarter. Rockefeller Capital Management L.P. now owns 2,151 shares of the software company’s stock valued at $268,000 after buying an additional 1,403 shares in the last quarter. AlphaCrest Capital Management LLC purchased a new stake in shares of Splunk during the 1st quarter valued at about $448,000. State of Wisconsin Investment Board raised its position in shares of Splunk by 77.5% during the 1st quarter. State of Wisconsin Investment Board now owns 85,453 shares of the software company’s stock valued at $10,647,000 after buying an additional 37,305 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Splunk by 2.3% during the 1st quarter. Northern Trust Corp now owns 961,612 shares of the software company’s stock valued at $119,817,000 after buying an additional 21,170 shares in the last quarter. Institutional investors and hedge funds own 91.07% 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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