Splunk (NASDAQ:SPLK) Given New $123.00 Price Target at Morgan Stanley

Splunk (NASDAQ:SPLKGet Rating) had its price objective trimmed by Morgan Stanley from $133.00 to $123.00 in a research note released on Monday morning, Marketbeat reports. The firm currently has an equal weight rating on the software company’s stock.

Several other research firms have also issued reports on SPLK. StockNews.com assumed coverage on shares of Splunk in a research report on Wednesday, October 12th. They set a hold rating for the company. Robert W. Baird assumed coverage on shares of Splunk in a report on Tuesday, October 18th. They set an outperform rating and a $130.00 target price for the company. Guggenheim assumed coverage on shares of Splunk in a report on Friday, August 12th. They set a buy rating and a $160.00 target price for the company. Bank of America dropped their target price on shares of Splunk from $122.00 to $110.00 and set a buy rating for the company in a report on Thursday, November 17th. Finally, Cowen dropped their target price on shares of Splunk from $110.00 to $95.00 and set a market perform rating for the company in a report on Thursday, August 25th. Ten analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $126.03.

Splunk Stock Up 1.3 %

NASDAQ SPLK opened at $78.34 on Monday. The company has a 50-day simple moving average of $79.35 and a two-hundred day simple moving average of $92.19. Splunk has a 12-month low of $65.00 and a 12-month high of $150.79. The firm has a market cap of $12.75 billion, a price-to-earnings ratio of -12.59 and a beta of 1.43.

Splunk (NASDAQ:SPLKGet Rating) last posted its quarterly earnings results on Wednesday, August 24th. The software company reported ($0.94) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.58) by $0.64. Splunk had a negative net margin of 32.85% and a negative return on equity of 396.11%. The business had revenue of $798.75 million during the quarter, compared to analyst estimates of $747.92 million. During the same period in the prior year, the business posted ($1.63) earnings per share. The company’s revenue was up 31.9% on a year-over-year basis. Equities analysts expect that Splunk will post -2.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Splunk

Institutional investors and hedge funds have recently made changes to their positions in the company. Ellevest Inc. increased its position in shares of Splunk by 74.7% during the second quarter. Ellevest Inc. now owns 697 shares of the software company’s stock valued at $62,000 after acquiring an additional 298 shares in the last quarter. B. Metzler seel. Sohn & Co. AG increased its position in shares of Splunk by 56.4% during the first quarter. B. Metzler seel. Sohn & Co. AG now owns 4,851 shares of the software company’s stock valued at $721,000 after acquiring an additional 1,750 shares in the last quarter. Swiss National Bank increased its position in shares of Splunk by 12.3% during the first quarter. Swiss National Bank now owns 699,773 shares of the software company’s stock valued at $103,993,000 after acquiring an additional 76,700 shares in the last quarter. Forsta AP Fonden increased its position in shares of Splunk by 3.2% during the second quarter. Forsta AP Fonden now owns 32,400 shares of the software company’s stock valued at $2,866,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Diameter Capital Partners LP purchased a new stake in Splunk in the first quarter worth approximately $5,944,000. Institutional investors own 85.49% of the company’s stock.

About Splunk

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Splunk Inc, together with its subsidiaries, provides software and cloud solutions that deliver and operationalize insights from the data generated by digital systems in the United States and internationally. The company offers Splunk Platform, a real-time data platform comprising collection, streaming, indexing, search, reporting, analysis, machine learning, alerting, monitoring, and data management capabilities.

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Analyst Recommendations for Splunk (NASDAQ:SPLK)

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