Splunk (NASDAQ:SPLK) Price Target Raised to $123.00

Splunk (NASDAQ:SPLK – Get Rating) had its price target upped by Piper Sandler from $118.00 to $123.00 in a research note published on Thursday morning, The Fly reports.

A number of other research firms also recently commented on SPLK. Wells Fargo & Company boosted their price objective on Splunk from $115.00 to $125.00 in a research note on Thursday. William Blair assumed coverage on Splunk in a report on Wednesday, April 19th. They issued an outperform rating on the stock. Royal Bank of Canada lifted their target price on Splunk from $110.00 to $120.00 and gave the stock an outperform rating in a report on Tuesday, February 21st. BTIG Research lifted their target price on Splunk from $121.00 to $128.00 in a report on Thursday. Finally, Barclays lifted their target price on Splunk from $122.00 to $130.00 in a report on Thursday. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Splunk has a consensus rating of Moderate Buy and an average price target of $118.19.

Splunk Price Performance

SPLK opened at $95.70 on Thursday. Splunk has a one year low of $65.00 and a one year high of $116.84. The stock’s fifty day moving average is $90.47 and its 200-day moving average is $90.70.

Splunk (NASDAQ:SPLK – Get Rating) last posted its quarterly earnings data on Wednesday, March 1st. The software company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $1.41. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.07 billion. As a group, equities research analysts predict that Splunk will post -0.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Splunk

In other Splunk news, SVP Scott Morgan sold 2,000 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $101.04, for a total value of $202,080.00. Following the completion of the sale, the senior vice president now owns 115,907 shares of the company’s stock, valued at $11,711,243.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Splunk news, SVP Scott Morgan sold 2,000 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $101.04, for a total value of $202,080.00. Following the completion of the sale, the senior vice president now owns 115,907 shares of the company’s stock, valued at $11,711,243.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Elisa Steele sold 3,050 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $105.00, for a total value of $320,250.00. Following the completion of the sale, the director now directly owns 14,481 shares of the company’s stock, valued at approximately $1,520,505. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Institutional Trading of Splunk

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Meiji Yasuda Life Insurance Co lifted its position in shares of Splunk by 3.6% during the 1st quarter. Meiji Yasuda Life Insurance Co now owns 3,062 shares of the software company’s stock worth $455,000 after purchasing an additional 105 shares during the last quarter. Sandy Spring Bank lifted its position in shares of Splunk by 24.7% during the 4th quarter. Sandy Spring Bank now owns 545 shares of the software company’s stock worth $47,000 after purchasing an additional 108 shares during the last quarter. Mayflower Financial Advisors LLC lifted its position in shares of Splunk by 2.6% during the 4th quarter. Mayflower Financial Advisors LLC now owns 4,436 shares of the software company’s stock worth $382,000 after purchasing an additional 114 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Splunk by 2.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 5,118 shares of the software company’s stock worth $491,000 after purchasing an additional 119 shares during the last quarter. Finally, Lincoln National Corp lifted its position in shares of Splunk by 4.2% during the 1st quarter. Lincoln National Corp now owns 3,039 shares of the software company’s stock worth $291,000 after purchasing an additional 122 shares during the last quarter. Institutional investors and hedge funds own 85.71% of the company’s stock.

About Splunk

(Get Rating)

Splunk, Inc engages in the development and marketing of cloud 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.