Splunk (NASDAQ:SPLK) PT Raised to $130.00

Splunk (NASDAQ:SPLK – Get Rating) had its price objective lifted by Barclays from $122.00 to $130.00 in a report released on Thursday, The Fly reports.

Several other research analysts also recently issued reports on SPLK. StockNews.com raised Splunk from a hold rating to a buy rating in a research note on Wednesday, May 17th. Citigroup upped their price objective on Splunk from $105.00 to $110.00 and gave the company a neutral rating in a research note on Friday, March 3rd. BMO Capital Markets increased their target price on shares of Splunk from $100.00 to $113.00 and gave the company an outperform rating in a research report on Thursday, March 2nd. Needham & Company LLC increased their target price on shares of Splunk from $115.00 to $120.00 and gave the company a buy rating in a research report on Thursday, March 2nd. Finally, BTIG Research increased their target price on shares of Splunk from $105.00 to $121.00 and gave the company a buy rating in a research report on Monday, February 27th. Nine equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $118.19.

Splunk Price Performance

Shares of SPLK stock opened at $95.70 on Thursday. Splunk has a 12 month low of $65.00 and a 12 month high of $116.84. The company’s fifty day simple moving average is $90.47 and its 200-day simple moving average is $90.70.

Splunk (NASDAQ:SPLK – Get Rating) last released its quarterly earnings data on Wednesday, March 1st. The software company reported $1.25 EPS for the quarter, beating the consensus estimate of ($0.16) by $1.41. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.07 billion. As a group, sell-side analysts forecast that Splunk will post -0.55 EPS for the current year.

Insider Activity at Splunk

In related 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 sale, the senior vice president now directly owns 115,907 shares in the company, valued at approximately $11,711,243.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Elisa Steele sold 3,050 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $105.00, for a total value of $320,250.00. Following the transaction, the director now directly owns 14,481 shares in the company, valued at $1,520,505. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Scott Morgan sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $101.04, for a total transaction of $202,080.00. Following the completion of the transaction, the senior vice president now owns 115,907 shares in the company, valued at $11,711,243.28. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. MetLife Investment Management LLC bought a new position in shares of Splunk in the first quarter worth approximately $1,527,000. Raymond James Trust N.A. grew its holdings in Splunk by 34.4% in the 1st quarter. Raymond James Trust N.A. now owns 4,957 shares of the software company’s stock worth $737,000 after acquiring an additional 1,268 shares during the last quarter. Prudential PLC bought a new stake in Splunk in the 1st quarter worth $357,000. National Pension Service grew its holdings in Splunk by 8.1% in the 1st quarter. National Pension Service now owns 251,984 shares of the software company’s stock worth $37,447,000 after acquiring an additional 18,834 shares during the last quarter. Finally, Loomis Sayles & Co. L P bought a new stake in Splunk in the 1st quarter worth $89,000. 85.71% of the stock is currently owned by institutional investors.

Splunk Company Profile

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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.