Recent Research Analysts’ Ratings Changes for Splunk (SPLK)

Several brokerages have updated their recommendations and price targets on shares of Splunk (NASDAQ: SPLK) in the last few weeks:

  • 11/18/2019 – Splunk was upgraded by analysts at Morgan Stanley from an “equal” rating to a “weight” rating. They now have a $169.00 price target on the stock, up previously from $140.00.
  • 11/18/2019 – Splunk is now covered by analysts at DA Davidson. They set a “buy” rating on the stock.
  • 11/18/2019 – Splunk had its “buy” rating reaffirmed by analysts at Cowen Inc. They now have a $160.00 price target on the stock.
  • 11/18/2019 – Splunk had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $150.00 price target on the stock.
  • 11/14/2019 – Splunk was downgraded by analysts at Cleveland Research from a “buy” rating to a “neutral” rating.
  • 11/14/2019 – Splunk had its “buy” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $150.00 price target on the stock.
  • 11/12/2019 – Splunk had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $153.00 price target on the stock.
  • 11/8/2019 – Splunk is now covered by analysts at Piper Jaffray Companies. They set an “overweight” rating and a $160.00 price target on the stock.
  • 11/5/2019 – Splunk had its price target raised by analysts at JPMorgan Chase & Co. from $130.00 to $140.00. They now have an “overweight” rating on the stock.
  • 10/24/2019 – Splunk had its “buy” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $150.00 price target on the stock.
  • 10/19/2019 – Splunk was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 10/17/2019 – Splunk was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. They now have a $119.00 price target on the stock. According to Zacks, “Splunk is expected to benefit from strong software revenue growth and new customer wins. Moreover, solid demand for cloud-based solutions is anticipated to drive subscription revenues. Management expects cloud contribution to grow significantly over the next few years. Further, strategic acquisitions and an expanding partner base are key catalysts for Splunk. Additionally, the successful transition to a renewable model from perpetual license model is expected to drive the top line in the long haul. However, this transition continues to hurt Splunk’s cash flow generation ability, which doesn’t bode well for investors. Moreover, slowing maintenance & services revenues amid intensifying competition are a headwind. Shares have underperformed the industry on a year-to-date basis.”
  • 10/8/2019 – Splunk had its “buy” rating reaffirmed by analysts at Jefferies Financial Group Inc. They now have a $157.00 price target on the stock.
  • 10/2/2019 – Splunk was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 10/2/2019 – Splunk is now covered by analysts at SunTrust Banks, Inc.. They set a “buy” rating and a $160.00 price target on the stock.
  • 9/26/2019 – Splunk was given a new $150.00 price target on by analysts at UBS Group AG. They now have a “buy” rating on the stock.
  • 9/24/2019 – Splunk was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.

Splunk stock traded down $1.06 during trading on Thursday, reaching $125.75. The stock had a trading volume of 99,169 shares, compared to its average volume of 1,757,970. Splunk Inc has a 52-week low of $89.55 and a 52-week high of $143.70. The business has a 50 day moving average price of $119.67 and a 200 day moving average price of $123.28. The company has a quick ratio of 3.06, a current ratio of 3.06 and a debt-to-equity ratio of 1.30. The stock has a market cap of $18.04 billion, a PE ratio of -79.09 and a beta of 2.03.

Splunk (NASDAQ:SPLK) last issued its quarterly earnings results on Wednesday, August 21st. The software company reported ($0.35) earnings per share (EPS) for the quarter, topping 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 company 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 earned $0.08 earnings per share. The firm’s quarterly revenue was up 33.0% on a year-over-year basis. On average, equities analysts predict that Splunk Inc will post -0.88 EPS for the current fiscal year.

In related news, CAO Timothy Emanuelson sold 549 shares of Splunk stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $124.94, for a total value of $68,592.06. Following the completion of the transaction, the chief accounting officer now owns 34,302 shares in the company, valued at $4,285,691.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas Merritt sold 13,341 shares of Splunk stock in a transaction that occurred 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. Insiders sold 26,906 shares of company stock valued at $3,187,086 in the last quarter. 0.34% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of SPLK. Parkside Financial Bank & Trust purchased a new stake in shares of Splunk during the 2nd quarter worth approximately $25,000. Motco purchased a new stake in shares of Splunk during the 2nd quarter worth approximately $27,000. Quest Capital Management Inc. ADV purchased a new stake in shares of Splunk during the 3rd quarter worth approximately $27,000. HM Payson & Co. purchased a new stake in shares of Splunk during the 2nd quarter worth approximately $28,000. Finally, Manchester Financial Inc. purchased a new stake in shares of Splunk during the 2nd quarter worth approximately $29,000. Institutional investors own 91.57% of the company’s stock.

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.

Featured Story: Different Options Trading Strategies

Receive News & Ratings for Splunk Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Splunk Inc and related companies with MarketBeat.com's FREE daily email newsletter.