Splunk (NASDAQ:SPLK) PT Lowered to $120.00 at Citigroup

Splunk (NASDAQ:SPLKGet Rating) had its target price cut by Citigroup from $145.00 to $120.00 in a research note issued to investors on Friday, The Fly reports. Citigroup’s price target suggests a potential upside of 17.65% from the stock’s previous close.

Several other research firms have also weighed in on SPLK. StockNews.com started coverage on Splunk in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. JMP Securities downgraded shares of Splunk from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 22nd. Mizuho lowered their price objective on shares of Splunk from $130.00 to $110.00 and set a “neutral” rating for the company in a research report on Wednesday, May 18th. Needham & Company LLC cut their target price on shares of Splunk from $145.00 to $118.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, BMO Capital Markets lowered their price target on shares of Splunk from $142.00 to $125.00 in a report on Thursday. Eleven analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Splunk currently has a consensus rating of “Buy” and an average price target of $145.54.

SPLK stock opened at $102.00 on Friday. The company’s 50-day moving average price is $122.47 and its two-hundred day moving average price is $121.69. The firm has a market cap of $16.42 billion, a P/E ratio of -12.36 and a beta of 1.32. 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 12 month low of $84.63 and a 12 month high of $176.66.

Splunk (NASDAQ:SPLKGet Rating) last announced its quarterly earnings data on Wednesday, May 25th. The software company reported ($1.69) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.87) by $0.18. Splunk had a negative net margin of 50.08% and a negative return on equity of 128.38%. The business had revenue of $674.08 million for the quarter, compared to analysts’ expectations of $629.73 million. During the same period last year, the firm posted ($1.84) earnings per share. The firm’s quarterly revenue was up 34.3% compared to the same quarter last year. Equities analysts predict that Splunk will post -4.83 EPS for the current year.

In other Splunk news, SVP Scott Morgan sold 1,588 shares of the business’s stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $112.25, for a total value of $178,253.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Timothy Emanuelson sold 257 shares of the stock in a transaction that occurred on Thursday, April 14th. The stock was sold at an average price of $141.00, for a total value of $36,237.00. Following the transaction, the chief accounting officer now owns 22,239 shares in the company, valued at $3,135,699. The disclosure for this sale can be found here. Insiders have sold 2,491 shares of company stock worth $295,240 in the last ninety days. Insiders own 0.27% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Primecap Management Co. CA grew its stake in shares of Splunk by 4.2% in the 1st quarter. Primecap Management Co. CA now owns 7,889,961 shares of the software company’s stock valued at $1,172,527,000 after buying an additional 320,910 shares during the period. Clearbridge Investments LLC grew its stake in Splunk by 12.3% in the first quarter. Clearbridge Investments LLC now owns 5,753,569 shares of the software company’s stock valued at $855,038,000 after acquiring an additional 628,288 shares during the period. Vulcan Value Partners LLC acquired a new stake in Splunk in the fourth quarter valued at approximately $535,507,000. Pictet Asset Management SA increased its holdings in shares of Splunk by 4.9% during the fourth 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 in the last quarter. Finally, First Trust Advisors LP raised its position in shares of Splunk by 32.5% during the fourth quarter. First Trust Advisors LP now owns 3,420,664 shares of the software company’s stock worth $395,839,000 after purchasing an additional 838,240 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Splunk Company Profile (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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