Splunk (NASDAQ:SPLK) PT lowered to $125.00 at BMO Capital Markets


Splunk (NASDAQ: SPLKGet a rating) saw its price target lowered by analysts at BMO Capital Markets from $142.00 to $125.00 in a research report released on Thursday, Fly reports. BMO Capital Markets’ price target indicates a potential upside of 25.40% from the company’s current price.

Other research analysts have also recently published reports on the stock. Daiwa Capital Markets upgraded Splunk’s shares from a “neutral” to an “outperforming” rating and raised its share price target from $134.00 to $140.00 in a research report from the Friday, March 4. Oppenheimer lowered his target price on Splunk shares from $175.00 to $140.00 in a research report on Thursday. Needham & Company LLC lowered its target price on Splunk shares from $145.00 to $118.00 and set a “buy” rating on the stock in a research report Thursday. Morgan Stanley lowered its price target on Splunk shares from $152.00 to $138.00 and set an “equal weight” rating on the stock in a Thursday, May 19 research report. Finally, Mizuho cut its price target on Splunk shares from $130.00 to $110.00 and set a “neutral” rating for the company in a Wednesday, May 18 research note. Eleven investment analysts gave the stock a hold rating and seventeen gave the company a buy rating. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $146.43.

Shares of NASDAQ: SPLK traded at $6.56 in midday trading on Thursday, reaching $99.68. The company’s shares had a trading volume of 58,839 shares, compared to its average volume of 2,428,977. The company has a quick ratio of 1.56, a current ratio of 1.56 and a leverage ratio of of 14.09. The company has a market capitalization of $16.04 billion, a price-earnings ratio of -12.08 and a beta of 1.32. Splunk has a 1-year low of $84.63 and a 1-year high of $176.66. The company has a 50-day moving average price of $122.99 and a 200-day moving average price of $122.16.

Splunk (NASDAQ: SPLKGet a rating) last reported results on Wednesday, May 25. The software company reported ($0.32) EPS for the quarter, beating analyst consensus estimates of ($0.74) by $0.42. The company posted revenue of $674.08 million for the quarter, versus a consensus estimate of $629.73 million. Splunk had a negative net margin of 50.08% and a negative return on equity of 128.38%. The company’s revenue for the quarter increased by 34.3% compared to the same quarter last year. During the same quarter last year, the company posted ($1.84) EPS. Sell-side analysts expect Splunk to post earnings per share of -4.83 for the current fiscal year.

In other Splunk news, CAD Timothy Emanuelson sold 257 Splunk shares in a trade on Thursday, April 14. The shares were sold at an average price of $141.00, for a total value of $36,237.00. As a result of the transaction, the accounting chief now owns 22,239 shares of the company, valued at approximately $3,135,699. The sale was disclosed in a document filed with the SEC, accessible via the SEC website. Also, please Scott Morgan sold 1,588 Splunk shares in a trade on Wednesday, March 16. The shares were sold at an average price of $112.25, for a total transaction of $178,253.00. Disclosure of this sale can be found here. Insiders have sold 2,491 shares of the company worth $295,240 in the past three months. 0.27% of the shares are currently held by insiders.

Large investors have recently changed their positions in the stock. Primecap Management Co. CA increased its stake in Splunk shares by 4.2% in the first quarter. Primecap Management Co. CA now owns 7,889,961 shares of the software company valued at $1,172,527,000 after buying an additional 320,910 shares last quarter. Clearbridge Investments LLC increased its stake in Splunk shares by 12.3% during the 1st quarter. Clearbridge Investments LLC now owns 5,753,569 shares of the software company valued at $855,038,000 after acquiring an additional 628,288 shares last quarter. Vulcan Value Partners LLC bought a new stock position in Splunk during Q4 worth $535,507,000. Pictet Asset Management SA increased its stake in Splunk shares by 4.9% during the 4th quarter. Pictet Asset Management SA now owns 4,383,407 shares of the software company valued at $507,248,000 after acquiring 204,107 additional shares last quarter. Finally, First Trust Advisors LP increased its holdings of Splunk shares by 32.5% during the fourth quarter. First Trust Advisors LP now owns 3,420,664 shares of the software company valued at $395,839,000 after acquiring an additional 838,240 shares last quarter. 91.60% of the shares are currently held by hedge funds and other institutional investors.

About Splunk (Get a rating)

Splunk Inc, together with its subsidiaries, provides software and cloud solutions that deliver and operationalize insights from data generated by digital systems in the United States and internationally. The Company offers Splunk Platform, a real-time data platform that includes collection, streaming, indexing, search, reporting, analytics, machine learning, alerting , monitoring and data management.

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