Other analysts have also recently issued reports about the company. Jefferies Financial Group reiterated a “hold” rating and issued a $157.00 price objective on shares of Splunk in a research note on Monday, November 27th. Daiwa Capital Markets cut shares of Splunk from an “outperform” rating to a “neutral” rating in a research report on Tuesday, October 10th. Finally, Truist Financial lowered Splunk from a “buy” rating to a “hold” rating and set a $157.00 target price on the stock. in a report on Wednesday, November 29th. Twenty-four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $134.00.
Splunk Stock Performance
Splunk (NASDAQ:SPLK – Get Free Report) last announced its quarterly earnings results on Tuesday, November 28th. The software company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.47. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Splunk had a negative return on equity of 689.21% and a net margin of 2.66%. Equities research analysts predict that Splunk will post 0.9 earnings per share for the current fiscal year.
Insider Buying and Selling at Splunk
In other Splunk news, SVP Scott Morgan sold 5,017 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $152.28, for a total value of $763,988.76. Following the completion of the transaction, the senior vice president now owns 89,265 shares in the company, valued at approximately $13,593,274.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Splunk
Institutional investors have recently made changes to their positions in the stock. ING Groep NV boosted its stake in shares of Splunk by 96.6% during the 4th quarter. ING Groep NV now owns 88,461 shares of the software company’s stock worth $13,477,000 after acquiring an additional 43,461 shares in the last quarter. Kingsview Wealth Management LLC lifted its position in Splunk by 47.4% in the 4th quarter. Kingsview Wealth Management LLC now owns 5,634 shares of the software company’s stock worth $858,000 after buying an additional 1,811 shares in the last quarter. Beacon Pointe Advisors LLC raised its holdings in shares of Splunk by 16.6% during the fourth quarter. Beacon Pointe Advisors LLC now owns 20,071 shares of the software company’s stock worth $3,058,000 after acquiring an additional 2,862 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Splunk by 46.8% during the 4th quarter. Quadrant Capital Group LLC now owns 414 shares of the software company’s stock valued at $63,000 after buying an additional 132 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in Splunk by 11.5% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 9,607 shares of the software company’s stock valued at $1,464,000 after acquiring an additional 988 shares during the last quarter. 87.56% of the stock is owned by institutional investors.
Splunk Company Profile
Splunk Inc, together with its subsidiaries, develops and markets cloud services and licensed software solutions in the United States and internationally. The company offers unified security and observability platform, including Splunk Security that helps security leaders fortify their organization's digital resilience by mitigating cyber risk and meeting compliance requirements; and Splunk Observability, which provides visibility across the full stack of infrastructure, applications, and the digital customer experience.
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