Splunk (NASDAQ:SPLK) had its target price hoisted by analysts at Credit Suisse Group from $110.00 to $115.00 in a report issued on Thursday. The brokerage currently has an “outperform” rating on the software company’s stock. Credit Suisse Group’s price target would indicate a potential upside of 12.60% from the stock’s previous close.
SPLK has been the subject of several other research reports. Barclays upgraded Splunk from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $80.00 to $105.00 in a report on Monday, January 8th. Robert W. Baird raised their price objective on Splunk from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Monday, December 18th. ValuEngine upgraded Splunk from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Zacks Investment Research upgraded Splunk from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Friday, January 19th. Finally, Wells Fargo raised their price objective on Splunk from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, March 2nd. Six equities research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $100.49.
SPLK stock opened at $102.13 on Thursday. The stock has a market cap of $14,661.19, a price-to-earnings ratio of -77.96 and a beta of 1.85. Splunk has a 1 year low of $54.17 and a 1 year high of $112.66.
In other Splunk news, SVP Leonard R. Stein sold 4,165 shares of the firm’s stock in a transaction that occurred on Tuesday, April 3rd. The shares were sold at an average price of $97.78, for a total transaction of $407,253.70. Following the completion of the sale, the senior vice president now directly owns 125,768 shares in the company, valued at $12,297,595.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Godfrey Sullivan sold 8,750 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $107.60, for a total transaction of $941,500.00. Following the sale, the director now owns 161,700 shares of the company’s stock, valued at $17,398,920. The disclosure for this sale can be found here. Insiders have sold 163,912 shares of company stock valued at $16,716,531 over the last 90 days. Company insiders own 1.43% of the company’s stock.
Hedge funds have recently modified their holdings of the business. SeaCrest Wealth Management LLC acquired a new stake in Splunk during the fourth quarter worth approximately $102,000. James Hambro & Partners acquired a new stake in Splunk during the fourth quarter worth approximately $124,000. MANA Advisors LLC acquired a new stake in Splunk during the fourth quarter worth approximately $208,000. Creative Planning acquired a new stake in Splunk during the fourth quarter worth approximately $210,000. Finally, Essex Investment Management Co. LLC acquired a new stake in Splunk during the fourth quarter worth approximately $214,000. Hedge funds and other institutional investors own 99.29% of the company’s stock.
Splunk Inc provides software solutions that enable organizations to gain real-time operational intelligence in the United States and internationally. The company's products enable users to collect, index, search, explore, monitor, and analyze data regardless of format or source. It offers Splunk Enterprise, a machine data platform with collection, indexing, search, reporting, analysis, alerting, monitoring, and data management capabilities; and Splunk Cloud service.
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