Splunk (SPLK) Rating Lowered to Buy at ValuEngine

ValuEngine downgraded shares of Splunk (NASDAQ:SPLK) from a strong-buy rating to a buy rating in a research note published on Saturday.

SPLK has been the topic of several other research reports. Wedbush reissued an outperform rating and issued a $130.00 price objective on shares of Splunk in a research note on Wednesday, October 3rd. Wells Fargo & Co increased their price objective on Splunk from $135.00 to $145.00 and gave the stock an outperform rating in a research note on Friday, August 24th. BidaskClub raised Splunk from a buy rating to a strong-buy rating in a research note on Tuesday, August 28th. Stifel Nicolaus increased their price objective on Splunk from $120.00 to $138.00 and gave the stock a buy rating in a research note on Friday, August 24th. Finally, Piper Jaffray Companies increased their price objective on Splunk to $135.00 and gave the stock an overweight rating in a research note on Friday, August 24th. Two analysts have rated the stock with a sell rating, five have given a hold rating and thirty have assigned a buy rating to the stock. Splunk presently has an average rating of Buy and an average price target of $124.03.

Shares of NASDAQ:SPLK opened at $93.10 on Friday. Splunk has a 52-week low of $65.61 and a 52-week high of $130.00. The company has a market capitalization of $13.04 billion, a P/E ratio of -71.07 and a beta of 2.07.



Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Thursday, August 23rd. The software company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. Splunk had a negative return on equity of 26.44% and a negative net margin of 20.55%. The company had revenue of $388.30 million for the quarter, compared to analysts’ expectations of $358.46 million. During the same quarter in the prior year, the firm earned $0.08 earnings per share. Splunk’s revenue was up 38.6% compared to the same quarter last year. On average, analysts expect that Splunk will post -1.15 EPS for the current year.

In other news, Director Mark T. Carges sold 2,091 shares of the stock in a transaction on Monday, September 17th. The stock was sold at an average price of $124.87, for a total transaction of $261,103.17. Following the completion of the sale, the director now owns 19,444 shares in the company, valued at approximately $2,427,972.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Timothy Tully sold 19,100 shares of the stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $125.46, for a total value of $2,396,286.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,032 shares of company stock valued at $8,640,864. Company insiders own 0.36% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of SPLK. Tower Research Capital LLC TRC purchased a new stake in shares of Splunk during the 2nd quarter valued at $104,000. Point72 Hong Kong Ltd purchased a new stake in shares of Splunk during the 2nd quarter valued at $110,000. Centaurus Financial Inc. purchased a new stake in shares of Splunk during the 2nd quarter valued at $124,000. Nvwm LLC purchased a new position in Splunk in the 2nd quarter worth $160,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Splunk by 152.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,651 shares of the software company’s stock worth $164,000 after acquiring an additional 996 shares during the last quarter. Hedge funds and other institutional investors own 89.97% of the company’s stock.

About Splunk

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.

Read More: Price to Earnings Ratio (PE) Basics

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Splunk (NASDAQ:SPLK)

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