JMP Securities Boosts Splunk (NASDAQ:SPLK) Price Target to $200.00

Splunk (NASDAQ:SPLK) had its target price raised by JMP Securities from $155.00 to $200.00 in a research report released on Friday morning, The Fly reports. The firm currently has an outperform rating on the software company’s stock.

A number of other equities research analysts have also weighed in on the stock. Stifel Nicolaus upped their target price on shares of Splunk from $160.00 to $190.00 and gave the stock a buy rating in a report on Friday. Morgan Stanley upped their target price on shares of Splunk from $158.00 to $172.00 and gave the stock an overweight rating in a report on Friday. JPMorgan Chase & Co. upped their target price on shares of Splunk from $174.00 to $190.00 and gave the stock an overweight rating in a report on Friday. BidaskClub upgraded shares of Splunk from a buy rating to a strong-buy rating in a report on Friday, May 8th. Finally, BMO Capital Markets upped their target price on shares of Splunk from $177.00 to $190.00 in a report on Friday. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $175.06.

Shares of NASDAQ SPLK traded up $20.81 during trading on Friday, hitting $184.26. 8,753,828 shares of the company traded hands, compared to its average volume of 1,623,223. The business’s fifty day moving average is $135.50 and its 200 day moving average is $142.29. Splunk has a fifty-two week low of $93.92 and a fifty-two week high of $185.26. The firm has a market capitalization of $25.96 billion, a price-to-earnings ratio of -58.68 and a beta of 1.52. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.15 and a current ratio of 2.15.

Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Thursday, May 21st. The software company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.01. Splunk had a negative net margin of 20.56% and a negative return on equity of 17.54%. The firm had revenue of $434.08 million for the quarter, compared to analyst estimates of $443.60 million. During the same quarter in the prior year, the business earned $0.02 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, analysts predict that Splunk will post -3.23 EPS for the current year.

In other news, insider Ledger Susan St. sold 17,338 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $122.06, for a total transaction of $2,116,276.28. Following the completion of the transaction, the insider now directly owns 162,650 shares of the company’s stock, valued at $19,853,059. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas Merritt sold 7,001 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $100.07, for a total transaction of $700,590.07. Following the transaction, the chief executive officer now directly owns 267,563 shares of the company’s stock, valued at $26,775,029.41. The disclosure for this sale can be found here. Insiders sold 105,607 shares of company stock valued at $13,184,846 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC grew its position in Splunk by 553.3% during the fourth quarter. Valeo Financial Advisors LLC now owns 196 shares of the software company’s stock valued at $29,000 after buying an additional 166 shares during the period. Meeder Asset Management Inc. boosted its position in shares of Splunk by 42.4% in the fourth quarter. Meeder Asset Management Inc. now owns 198 shares of the software company’s stock worth $30,000 after purchasing an additional 59 shares during the period. Golden State Wealth Management LLC bought a new position in shares of Splunk in the first quarter worth approximately $30,000. Harbor Investment Advisory LLC boosted its position in shares of Splunk by 1,513.3% in the first quarter. Harbor Investment Advisory LLC now owns 242 shares of the software company’s stock worth $31,000 after purchasing an additional 227 shares during the period. Finally, Orion Portfolio Solutions LLC bought a new position in shares of Splunk in the fourth quarter worth approximately $35,000. 93.81% of the stock is owned by hedge funds and other institutional investors.

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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