November 30, 2016 - By Hazel Jackson
They currently have a $75 price target on Splunk (NASDAQ:SPLK). Wedbush’s target would suggest a potential upside of 22.17% from the company’s last price. This was revealed to clients and investors in an analyst note on 30 November.
Out of 31 analysts covering Splunk Inc (NASDAQ:SPLK), 21 rate it a “Buy”, 0 “Sell”, while 10 “Hold”. This means 68% are positive. $90 is the highest target while $44 is the lowest. The $67.41 average target is 9.81% above today’s ($61.39) stock price. Splunk Inc has been the topic of 63 analyst reports since August 24, 2015 according to StockzIntelligence Inc. Stifel Nicolaus maintained it with “Buy” rating and $62 target price in Thursday, June 16 report. The company was initiated on Tuesday, September 6 by Summit Redstone Partners. The rating was maintained by Barclays Capital on Wednesday, January 6 with “Equal-Weight”. Citigroup maintained the stock with “Buy” rating in Friday, May 27 report. As per Monday, August 31, the company rating was maintained by Credit Suisse. The firm has “Buy” rating given on Saturday, August 29 by Deutsche Bank. The firm earned “Buy” rating on Monday, August 31 by Cantor Fitzgerald. FBR Capital maintained the shares of SPLK in a report on Saturday, August 29 with “Buy” rating. SunTrust maintained it with “Neutral” rating and $49 target price in Friday, May 27 report. The firm earned “Hold” rating on Monday, August 24 by Summit Research.
About 15,092 shares traded hands. Splunk Inc (NASDAQ:SPLK) has risen 8.20% since April 27, 2016 and is uptrending. It has outperformed by 2.98% the S&P500.
Insitutional Activity: The institutional sentiment decreased to 1.23 in Q2 2016. Its down 0.16, from 1.39 in 2016Q1. The ratio fall, as 35 funds sold all Splunk Inc shares owned while 85 reduced positions. 53 funds bought stakes while 114 increased positions. They now own 131.07 million shares or 0.87% more from 129.93 million shares in 2016Q1.
Moore Cap Mngmt L P reported 80,000 shares or 0.17% of all its holdings. State Street Corporation has invested 0.01% of its portfolio in Splunk Inc (NASDAQ:SPLK). Livforsakringsbolaget Skandia Omsesidigt last reported 0.02% of its portfolio in the stock. Ithaka Grp Ltd Limited Liability Company, a Maryland-based fund reported 225,168 shares. Columbia Prns L L C Inv Management holds 0.34% of its portfolio in Splunk Inc (NASDAQ:SPLK) for 83,932 shares. Tiaa Cref Invest Management owns 359,368 shares or 0.01% of their US portfolio. Oregon Pub Employees Retirement Fund owns 100 shares or 0% of their US portfolio. Eventide Asset Management Ltd Liability Corp, a Massachusetts-based fund reported 658,200 shares. Cupps Cap Mgmt Limited Liability Com reported 27,970 shares or 0.39% of all its holdings. Morgan Stanley reported 5.41M shares or 0.11% of all its holdings. Vanguard Incorporated, a Pennsylvania-based fund reported 9.69M shares. Tudor Inv Corporation Et Al accumulated 0.03% or 21,920 shares. Teton Advsr, a New York-based fund reported 60,581 shares. Sands Cap Mngmt Ltd Co has invested 1.69% of its portfolio in Splunk Inc (NASDAQ:SPLK). Henderson Grp Public Ltd owns 17,543 shares or 0.01% of their US portfolio.
Insider Transactions: Since June 8, 2016, the stock had 0 insider purchases, and 16 selling transactions for $46.51 million net activity. Shares for $340,601 were sold by Sommer Steven R. 10,575 Splunk Inc (NASDAQ:SPLK) shares with value of $675,470 were sold by CONTE DAVID F. STEIN LEONARD R also sold $60,000 worth of Splunk Inc (NASDAQ:SPLK) on Wednesday, June 8. On Wednesday, September 14 the insider Merritt Douglas sold $357,606. Another trade for 120,000 shares valued at $7.44 million was sold by SULLIVAN GODFREY.
Splunk Inc. is a provider of software solutions. The company has a market cap of $7.60 billion. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. It currently has negative earnings. It operates through the development and marketing of software solutions segment, which enables its clients to gain real-time operational intelligence by harnessing the value of their data.
According to Zacks Investment Research, “Splunk Inc. provides a software platform, which collects and indexes data and enables users to search, correlate, analyze, monitor and report on this data, all in real time. Its software is designed to help users in various roles, including IT and business professionals. Splunk Inc. is based in San Francisco, California.”
Splunk Inc., incorporated on April 11, 2006, is a well-known 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 clients to gain real-time operational intelligence by harnessing the value of their data. The Company’s offerings address diverse data sets that are referred to as big data and are specifically used for machine-generated data. Machine data is produced by various software application and electronic devices in an organization and contains a definitive, time-stamped record of various activities, such as transactions, customer and user activities and security threats. The Company’s products help users in various roles, including information technology (IT), security and business professionals, to analyze their machine data and achieve real-time visibility into and intelligence about their organization’s operations. In addition, the Company offers user behavioral analytics to help detect, respond to and mitigate advanced, hidden and insider threats.
More important recent Splunk Inc (NASDAQ:SPLK) news were published by: Profitconfidential.com which released: “Splunk Inc: This Is Why SPLK Stock Can Rocket Higher” on November 30, 2016, also Businesswire.com published article titled: “Splunk Inc. Announces Fiscal Third Quarter 2017 Financial Results”, Reuters.com published: “BRIEF-Splunk Inc announces fiscal third quarter 2017 financial results” on November 29, 2016. More interesting news about Splunk Inc (NASDAQ:SPLK) was released by: Wsj.com and their article: “Splunk Raises Guidance Again Amid Strong Revenue Growth” with publication date: November 29, 2016.
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