Published On: Sun, Sep 18th, 2016

Splunk Inc. (SPLK) Stock Rating Upgraded by Vetr Inc.

Splunk Inc. (NASDAQ:SPLK) was upgraded by Vetr from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Monday. The brokerage currently has a $67.00 target price on the software company’s stock. Vetr‘s price objective points to a potential upside of 13.44% from the stock’s current price.
Several other research firms also recently commented on SPLK. Drexel Hamilton reiterated a “buy” rating and issued a $90.00 price objective (up previously from $85.00) on shares of Splunk in a report on Monday, August 29th. RBC Capital Markets reiterated a “buy” rating and issued a $70.00 price objective (up previously from $60.00) on shares of Splunk in a report on Friday, August 19th. Wedbush reiterated an “outperform” rating and issued a $70.00 price objective (up previously from $60.00) on shares of Splunk in a report on Friday, August 19th. Citigroup Inc. lifted their price objective on Splunk from $62.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, August 26th. Finally, Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $80.00 price objective on shares of Splunk in a report on Monday, August 29th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $68.42.
Shares of Splunk (NASDAQ:SPLK) traded down 0.51% on Monday, reaching $59.06. The company’s stock had a trading volume of 1,187,112 shares. The company’s 50 day moving average price is $61.49 and its 200 day moving average price is $54.56. Splunk has a 12-month low of $29.85 and a 12-month high of $66.90. The company’s market cap is $7.95 billion.

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Splunk (NASDAQ:SPLK) last issued its quarterly earnings results on Thursday, August 25th. The software company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.02. Splunk had a negative return on equity of 38.45% and a negative net margin of 42.84%. The firm earned $212.80 million during the quarter, compared to analyst estimates of $200.52 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The company’s revenue was up 43.5% compared to the same quarter last year. Analysts forecast that Splunk will post $0.29 EPS for the current fiscal year.
In related news, Director Godfrey Sullivan sold 128,750 shares of the stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $58.93, for a total value of $7,587,237.50. Following the completion of the transaction, the director now owns 440,426 shares of the company’s stock, valued at approximately $25,954,304.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Steven R. Sommer sold 465 shares of the stock in a transaction dated Monday, June 20th. The shares were sold at an average price of $58.51, for a total transaction of $27,207.15. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Macquarie Group Ltd. increased its stake in shares of Splunk by 134.6% in the second quarter. Macquarie Group Ltd. now owns 43,997 shares of the software company’s stock valued at $2,383,000 after buying an additional 25,242 shares during the last quarter. Williams Jones & Associates LLC increased its stake in shares of Splunk by 2.9% in the second quarter. Williams Jones & Associates LLC now owns 295,019 shares of the software company’s stock valued at $15,984,000 after buying an additional 8,424 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Splunk by 29.7% in the second quarter. Royal Bank of Canada now owns 71,966 shares of the software company’s stock valued at $3,900,000 after buying an additional 16,463 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Splunk by 46.6% in the second quarter. Public Employees Retirement System of Ohio now owns 42,679 shares of the software company’s stock valued at $2,312,000 after buying an additional 13,557 shares during the last quarter. Finally, Calvert Investment Management Inc. increased its stake in shares of Splunk by 1.9% in the second quarter. Calvert Investment Management Inc. now owns 6,693 shares of the software company’s stock valued at $363,000 after buying an additional 127 shares during the last quarter. 99.58% of the stock is owned by hedge funds and other institutional investors.
Splunk Company Profile
Splunk Inc is a provider of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. It operates through the development and marketing of software solutions segment, which enables its customers to gain real-time operational intelligence by harnessing the value of their data.

To view Vetr’s full report, visit Vetr’s official website.

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