Splunk (SPLK) – Investment Analysts’ Weekly Ratings Updates

Splunk (NASDAQ: SPLK) recently received a number of ratings updates from brokerages and research firms:

• 5/27/2022 – Splunk had its price target lowered by analysts at Citigroup Inc. from $145.00 to $120.00. They now have a “neutral” rating on the stock.
• 5/26/2022 – Splunk had its price target lowered by analysts at Credit Suisse Group AG from $225.00 to $180.00. They now have an “outperform” rating on the stock.
• 5/26/2022 – Splunk had its price target lowered by analysts at Needham & Company LLC from $145.00 to $118.00. They now have a “buy” rating on the stock.
• 5/26/2022 – Splunk had its price target lowered by analysts at UBS Group AG from $140.00 to $130.00. They now have a “buy” rating on the stock.
• 5/26/2022 – Splunk had its price target lowered by analysts at BMO Capital Markets from $142.00 to $125.00.
• 5/26/2022 – Splunk had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $145.00 to $125.00.
• 5/26/2022 – Splunk had its price target lowered by analysts at Barclays PLC from $135.00 to $125.00.
• 5/26/2022 – Splunk had its price target lowered by analysts at Oppenheimer Holdings Inc. from $175.00 to $140.00.
• 5/26/2022 – Splunk had its price target lowered by analysts at Piper Sandler from $150.00 to $130.00.
• 5/24/2022 – Splunk had its price target lowered by analysts at BTIG Research from $155.00 to $132.00. They now have a “buy” rating on the stock.
• 5/23/2022 – Splunk had its price target lowered by analysts at Jefferies Financial Group Inc. from $160.00 to $125.00.
• 5/23/2022 – Splunk had its price target lowered by analysts at Royal Bank of Canada from $175.00 to $152.00.
• 5/20/2022 – Splunk had its price target lowered by analysts at Barclays PLC from $157.00 to $135.00. They now have an “overweight” rating on the stock.
• 5/19/2022 – Splunk had its price target lowered by analysts at Morgan Stanley from $152.00 to $138.00. They now have an “equal weight” rating on the stock.
• 5/18/2022 – Splunk had its price target lowered by analysts at Mizuho from $130.00 to $110.00. They now have a “neutral” rating on the stock.

Shares of NASDAQ SPLK opened at $102.56 on Wednesday. The company has a debt-to-equity ratio of 14.09, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market capitalization of $16.51 billion, a price-to-earnings ratio of -14.13 and a beta of 1.32. The stock has a 50 day moving average price of $120.83 and a 200 day moving average price of $120.10. Splunk Inc. has a 52-week low of $84.63 and a 52-week high of $176.66.

Splunk (NASDAQ:SPLK – Get Rating) last announced 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 ($0.74) by $0.42. The firm had revenue of $674.08 million during the quarter, compared to analyst estimates of $629.73 million. Splunk had a negative return on equity of 396.11% and a negative net margin of 41.20%. Splunk’s quarterly revenue was up 34.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.84) earnings per share. Analysts forecast that Splunk Inc. will post -4.83 earnings per share for the current year.

In other Splunk news, SVP Scott Morgan sold 1,588 shares of the company’s stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $112.25, for a total value of $178,253.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Timothy Emanuelson sold 257 shares of the stock in a transaction dated Friday, March 18th. The stock was sold at an average price of $125.00, for a total transaction of $32,125.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,491 shares of company stock valued at $295,240 over the last 90 days. 0.27% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Consolidated Planning Corp acquired a new position in shares of Splunk during the 3rd quarter worth about $29,000. Sterling Investment Advisors Ltd. acquired a new stake in Splunk in the 1st quarter valued at about $30,000. SJS Investment Consulting Inc. raised its holdings in Splunk by 66.4% in the 1st quarter. SJS Investment Consulting Inc. now owns 228 shares of the software company’s stock valued at $34,000 after acquiring an additional 91 shares during the last quarter. Wolverine Asset Management LLC raised its holdings in Splunk by 109.2% in the 1st quarter. Wolverine Asset Management LLC now owns 235 shares of the software company’s stock valued at $34,000 after acquiring an additional 2,800 shares during the last quarter. Finally, First Command Bank acquired a new stake in Splunk in the 3rd quarter valued at about $43,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

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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