Splunk (NASDAQ:SPLK) Price Target Raised to $254.00 at Goldman Sachs Group

Splunk (NASDAQ:SPLK) had its target price hoisted by equities researchers at Goldman Sachs Group from $203.00 to $254.00 in a research report issued to clients and investors on Monday, The Fly reports. Goldman Sachs Group’s price objective indicates a potential upside of 27.83% from the stock’s current price.

A number of other analysts have also recently commented on SPLK. Rosenblatt Securities reaffirmed a “buy” rating and issued a $200.00 price target on shares of Splunk in a research note on Tuesday, May 19th. BidaskClub raised Splunk from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 8th. UBS Group boosted their price objective on Splunk from $186.00 to $188.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Morgan Stanley boosted their price objective on Splunk from $158.00 to $172.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. Finally, Maxim Group boosted their price objective on Splunk from $155.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $184.55.

Shares of SPLK stock opened at $198.70 on Monday. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.27 and a quick ratio of 2.27. The stock has a market cap of $31.27 billion, a PE ratio of -63.28 and a beta of 1.61. The stock has a 50-day moving average of $179.54 and a 200-day moving average of $152.28. Splunk has a one year low of $93.92 and a one year high of $199.32.

Splunk (NASDAQ:SPLK) last announced its quarterly earnings results on Thursday, May 21st. The software company reported ($0.56) EPS for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.01. The company had revenue of $434.08 million during the quarter, compared to analysts’ expectations of $443.60 million. Splunk had a negative return on equity of 17.40% and a negative net margin of 20.56%. Splunk’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.02 EPS. As a group, research analysts anticipate that Splunk will post -3.31 earnings per share for the current year.

In related news, SVP Timothy Tully sold 5,402 shares of the stock in a transaction on Monday, April 6th. The stock was sold at an average price of $108.37, for a total value of $585,414.74. Following the sale, the senior vice president now owns 146,039 shares in the company, valued at approximately $15,826,246.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Timothy Emanuelson sold 324 shares of the stock in a transaction on Monday, April 13th. The shares were sold at an average price of $123.84, for a total value of $40,124.16. Following the completion of the sale, the chief accounting officer now owns 26,090 shares in the company, valued at approximately $3,230,985.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 105,832 shares of company stock worth $17,781,839. Company insiders own 0.21% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. raised its stake in Splunk by 42.4% in the 4th quarter. Meeder Asset Management Inc. now owns 198 shares of the software company’s stock valued at $30,000 after acquiring an additional 59 shares during the period. FinTrust Capital Advisors LLC raised its stake in Splunk by 2.5% in the 1st quarter. FinTrust Capital Advisors LLC now owns 2,785 shares of the software company’s stock valued at $351,000 after acquiring an additional 67 shares during the period. Rockefeller Capital Management L.P. raised its stake in Splunk by 3.5% in the 1st quarter. Rockefeller Capital Management L.P. now owns 2,034 shares of the software company’s stock valued at $257,000 after acquiring an additional 68 shares during the period. Commonwealth Equity Services LLC raised its stake in Splunk by 0.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 8,566 shares of the software company’s stock valued at $1,081,000 after acquiring an additional 68 shares during the period. Finally, CSat Investment Advisory L.P. raised its stake in Splunk by 16.2% in the 4th quarter. CSat Investment Advisory L.P. now owns 494 shares of the software company’s stock valued at $74,000 after acquiring an additional 69 shares during the period. Institutional investors and hedge funds own 92.86% 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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