Splunk Inc. (NASDAQ:SPLK – Get Rating) has earned a consensus rating of “Moderate Buy” from the twenty-nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $133.11.
A number of analysts have weighed in on the stock. Citigroup restated a “neutral” rating and set a $118.00 price objective (down from $120.00) on shares of Splunk in a research note on Wednesday, August 3rd. Rosenblatt Securities reduced their price objective on shares of Splunk from $152.00 to $142.00 and set a “buy” rating for the company in a research note on Thursday, August 25th. Truist Financial reduced their price objective on shares of Splunk from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, August 25th. Argus reduced their price objective on shares of Splunk from $171.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday, August 31st. Finally, Credit Suisse Group reduced their price objective on shares of Splunk from $180.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, August 25th.
Hedge Funds Weigh In On Splunk
Several large investors have recently added to or reduced their stakes in SPLK. Worth Asset Management LLC purchased a new position in Splunk during the second quarter valued at approximately $27,000. First Horizon Advisors Inc. lifted its holdings in Splunk by 179.8% during the second quarter. First Horizon Advisors Inc. now owns 319 shares of the software company’s stock valued at $27,000 after purchasing an additional 205 shares in the last quarter. Private Trust Co. NA purchased a new position in Splunk during the second quarter valued at approximately $27,000. Ronald Blue Trust Inc. purchased a new position in Splunk during the second quarter valued at approximately $29,000. Finally, Sterling Investment Advisors Ltd. purchased a new position in Splunk during the first quarter valued at approximately $30,000. Hedge funds and other institutional investors own 85.49% of the company’s stock.
Splunk Trading Down 3.8 %
Splunk (NASDAQ:SPLK – Get Rating) last issued its quarterly earnings results on Wednesday, August 24th. The software company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.44. Splunk had a negative net margin of 32.85% and a negative return on equity of 396.11%. The company had revenue of $798.75 million during the quarter, compared to analysts’ expectations of $747.92 million. During the same period last year, the company posted ($1.63) EPS. Splunk’s revenue was up 31.9% on a year-over-year basis. As a group, sell-side analysts expect that Splunk will post -3.58 EPS for the current fiscal year.
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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