UBS Group Reiterates “$150.00” Price Target for Splunk (NASDAQ:SPLK)

UBS Group set a $150.00 price target on Splunk (NASDAQ:SPLK) in a research report released on Thursday, TipRanks reports. The brokerage currently has a buy rating on the software company’s stock.

A number of other equities research analysts also recently weighed in on the company. Robert W. Baird downgraded Splunk from an outperform rating to a neutral rating and set a $127.00 price target on the stock. in a research report on Thursday, August 22nd. Citigroup lowered their price target on Splunk from $106.00 to $102.00 and set a sell rating on the stock in a research report on Friday, August 23rd. Barclays lowered their price target on Splunk from $158.00 to $142.00 and set an overweight rating on the stock in a research report on Friday, September 13th. Rosenblatt Securities assumed coverage on Splunk in a research report on Monday, September 9th. They set a buy rating and a $150.00 price target on the stock. Finally, Argus set a $156.00 price target on Splunk and gave the company a buy rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Splunk presently has an average rating of Buy and an average price target of $145.18.

NASDAQ:SPLK traded down $0.20 during trading hours on Thursday, hitting $117.86. 1,015,801 shares of the company’s stock traded hands, compared to its average volume of 1,820,963. The firm has a market cap of $17.84 billion, a P/E ratio of -74.13 and a beta of 2.04. Splunk has a 52 week low of $83.69 and a 52 week high of $143.70. The business’s fifty day simple moving average is $117.64 and its two-hundred day simple moving average is $125.81. The company has a quick ratio of 3.06, a current ratio of 3.06 and a debt-to-equity ratio of 1.30.

Splunk (NASDAQ:SPLK) last released its quarterly earnings results on Wednesday, August 21st. The software company reported ($0.35) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.51) by $0.16. Splunk had a negative return on equity of 12.73% and a negative net margin of 15.16%. The business had revenue of $516.56 million for the quarter, compared to the consensus estimate of $488.97 million. During the same quarter last year, the business posted $0.08 earnings per share. The company’s revenue for the quarter was up 33.0% on a year-over-year basis. On average, analysts expect that Splunk will post -0.83 EPS for the current year.

In other news, SVP Timothy Tully sold 4,391 shares of Splunk stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $115.21, for a total value of $505,887.11. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Douglas Merritt sold 13,341 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $115.20, for a total value of $1,536,883.20. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of SPLK. Dimensional Fund Advisors LP grew its stake in shares of Splunk by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 166,204 shares of the software company’s stock worth $17,425,000 after purchasing an additional 8,366 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Splunk by 5.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,212 shares of the software company’s stock worth $774,000 after purchasing an additional 296 shares during the last quarter. Parametric Portfolio Associates LLC grew its stake in shares of Splunk by 2.8% in the first quarter. Parametric Portfolio Associates LLC now owns 175,112 shares of the software company’s stock worth $21,819,000 after purchasing an additional 4,837 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Splunk by 7.8% in the first quarter. Envestnet Asset Management Inc. now owns 102,033 shares of the software company’s stock worth $12,713,000 after purchasing an additional 7,388 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of Splunk by 3.8% in the first quarter. Swiss National Bank now owns 489,500 shares of the software company’s stock worth $60,992,000 after purchasing an additional 17,800 shares during the last quarter. 91.07% of the stock is currently owned by institutional investors.

About Splunk

Splunk, Inc engages in the development and marketing of 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. The company was founded by Erik M.

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Analyst Recommendations for Splunk (NASDAQ:SPLK)

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