Splunk (NASDAQ:SPLK) PT Lowered to $180.00

Posted by on May 26th, 2022

Splunk (NASDAQ:SPLK – Get Rating) had its price objective decreased by stock analysts at Credit Suisse Group from $225.00 to $180.00 in a research note issued to investors on Thursday, The Fly reports. Credit Suisse Group’s price objective points to a potential upside of 93.30% from the company’s current price.

SPLK has been the topic of a number of other research reports. Royal Bank of Canada decreased their price target on shares of Splunk from $175.00 to $152.00 in a research note on Monday. UBS Group reduced their target price on shares of Splunk from $140.00 to $130.00 in a research note on Thursday. Mizuho reduced their target price on shares of Splunk from $130.00 to $110.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 18th. Citigroup increased their target price on shares of Splunk from $120.00 to $145.00 and gave the company a “neutral” rating in a research note on Thursday, March 10th. Finally, Barclays reduced their target price on shares of Splunk from $135.00 to $125.00 in a research note on Thursday. Eleven research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Splunk currently has an average rating of “Buy” and a consensus price target of $148.00.

Splunk stock opened at $93.12 on Thursday. The company has a market cap of $14.99 billion, a price-to-earnings ratio of -11.29 and a beta of 1.32. The firm’s fifty day moving average is $122.99 and its 200 day moving average is $122.16. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 14.09. Splunk has a 52-week low of $84.63 and a 52-week high of $176.66.

Splunk (NASDAQ:SPLK – Get Rating) last released its quarterly earnings results on Wednesday, May 25th. The software company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.87) by $1.55. The company had revenue of $674.08 million for the quarter, compared to the consensus estimate of $629.73 million. Splunk had a negative net margin of 50.08% and a negative return on equity of 128.38%. Splunk’s revenue was up 34.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.84) earnings per share. On average, equities research analysts anticipate that Splunk will post -4.83 earnings per share for the current fiscal year.

In related news, CAO Timothy Emanuelson sold 389 shares of the stock in a transaction that occurred on Thursday, March 3rd. The shares were sold at an average price of $125.00, for a total value of $48,625.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Scott Morgan sold 1,588 shares of the stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $112.25, for a total transaction of $178,253.00. The disclosure for this sale can be found here. Insiders sold a total of 2,491 shares of company stock valued at $295,240 over the last ninety days. 0.27% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Meiji Yasuda Asset Management Co Ltd. raised its position in Splunk by 2.3% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,535 shares of the software company’s stock worth $512,000 after buying an additional 80 shares during the last quarter. Hanson & Doremus Investment Management raised its position in Splunk by 0.7% during the 1st quarter. Hanson & Doremus Investment Management now owns 11,193 shares of the software company’s stock worth $1,663,000 after buying an additional 82 shares during the last quarter. Roberts Glore & Co. Inc. IL increased its holdings in shares of Splunk by 2.4% during the 1st quarter. Roberts Glore & Co. Inc. IL now owns 3,877 shares of the software company’s stock valued at $576,000 after purchasing an additional 90 shares in the last quarter. SJS Investment Consulting Inc. increased its holdings in shares of Splunk by 66.4% during the 1st quarter. SJS Investment Consulting Inc. now owns 228 shares of the software company’s stock valued at $34,000 after purchasing an additional 91 shares in the last quarter. Finally, Krilogy Financial LLC increased its holdings in shares of Splunk by 0.8% during the 4th quarter. Krilogy Financial LLC now owns 11,414 shares of the software company’s stock valued at $1,321,000 after purchasing an additional 93 shares in the last quarter. 91.60% of the stock is owned by institutional investors.

About Splunk (Get Rating)

Splunk Inc, together with its subsidiaries, provides software and cloud solutions that deliver and operationalize insights from the data generated by digital systems in the United States and internationally. The company offers Splunk Platform, a real-time data platform comprising collection, streaming, indexing, search, reporting, analysis, machine learning, alerting, monitoring, and data management capabilities.

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