Splunk (NASDAQ:SPLK) was downgraded by stock analysts at JMP Securities from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Tuesday, The Fly reports.
A number of other analysts also recently weighed in on the company. Robert W. Baird decreased their price target on Splunk from $185.00 to $135.00 and set an “outperform” rating for the company in a report on Thursday, December 2nd. Credit Suisse Group began coverage on shares of Splunk in a research note on Tuesday, November 16th. They set an “outperform” rating and a $225.00 target price on the stock. BTIG Research upgraded shares of Splunk from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a report on Monday, January 24th. Royal Bank of Canada reduced their price objective on shares of Splunk from $210.00 to $190.00 and set an “outperform” rating for the company in a research report on Thursday, December 2nd. They noted that the move was a valuation call. Finally, Needham & Company LLC reduced their price objective on Splunk from $203.00 to $181.00 and set a “buy” rating for the company in a research note on Thursday, December 2nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $164.30.
SPLK stock opened at $114.70 on Tuesday. Splunk has a 52 week low of $105.45 and a 52 week high of $176.66. The business has a 50-day simple moving average of $116.93 and a 200 day simple moving average of $136.79. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 17.42. The company has a market cap of $18.21 billion, a PE ratio of -13.94 and a beta of 1.31.
Splunk (NASDAQ:SPLK) last released its earnings results on Wednesday, December 1st. The software company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($1.36) by $0.99. Splunk had a negative net margin of 53.14% and a negative return on equity of 89.54%. The firm had revenue of $664.75 million for the quarter, compared to analyst estimates of $646.52 million. During the same period last year, the firm earned ($0.96) EPS. The business’s quarterly revenue was up 19.0% compared to the same quarter last year. On average, analysts anticipate that Splunk will post -5.9 EPS for the current fiscal year.
In other Splunk news, SVP Scott Morgan sold 838 shares of the stock in a transaction on Thursday, December 16th. The shares were sold at an average price of $112.05, for a total transaction of $93,897.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Primecap Management Co. CA grew its stake in shares of Splunk by 0.9% in the fourth quarter. Primecap Management Co. CA now owns 7,569,051 shares of the software company’s stock worth $875,891,000 after acquiring an additional 68,390 shares during the period. Vulcan Value Partners LLC purchased a new position in shares of Splunk during the 4th quarter valued at about $535,507,000. Pictet Asset Management SA grew its stake in shares of Splunk by 4.9% during the 4th quarter. Pictet Asset Management SA now owns 4,383,407 shares of the software company’s stock valued at $507,248,000 after acquiring an additional 204,107 shares during the period. First Trust Advisors LP raised its holdings in Splunk by 32.5% during the fourth quarter. First Trust Advisors LP now owns 3,420,664 shares of the software company’s stock valued at $395,839,000 after acquiring an additional 838,240 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Splunk by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 2,049,835 shares of the software company’s stock worth $236,842,000 after purchasing an additional 43,237 shares in the last quarter. Institutional investors and hedge funds own 83.80% of the company’s stock.
About Splunk
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.
