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Credit Suisse Group Boosts Splunk (NASDAQ:SPLK) Price Target to $170.00
January 16th, 2020 - Comments Off on Credit Suisse Group Boosts Splunk (NASDAQ:SPLK) Price Target to $170.00 - Filed Under - by Nicole Kennedy
Filed Under: Analyst Articles - US - Investing
Splunk (NASDAQ:SPLK) had its target price upped by Credit Suisse Group from $150.00 to $170.00 in a research note issued to investors on Monday, The Fly reports. Credit Suisse Group currently has an outperform rating on the software company's stock.
Several other analysts have also recently commented on the stock. Cowen restated a buy rating and set a $160.00 price target on shares of Splunk in a report on Monday, November 18th. SunTrust Banks boosted their price target on shares of Splunk from $160.00 to $175.00 and gave the company a buy rating in a report on Friday, November 22nd. DA Davidson initiated coverage on shares of Splunk in a research report on Wednesday, November 27th. They set a buy rating on the stock. BidaskClub upgraded shares of Splunk from a hold rating to a buy rating in a research report on Monday, November 25th. Finally, Mizuho upped their price target on Splunk from $155.00 to $160.00 and gave the company a buy rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-nine have given a buy rating to the stock. Splunk has an average rating of Buy and a consensus target price of $160.06.
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Splunk stock opened at $156.02 on Monday. The stock has a market cap of $24.49 billion, a price-to-earnings ratio of -98.13 and a beta of 2.06. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 1.06. The company's 50-day moving average price is $150.24 and its two-hundred day moving average price is $130.37. Splunk has a 52 week low of $107.16 and a 52 week high of $158.70.
Splunk (NASDAQ:SPLK) last released its earnings results on Thursday, November 21st. The software company reported $0.58 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.54 by $0.04. The firm had revenue of $626.00 million for the quarter, compared to analysts' expectations of $605.20 million. Splunk had a negative net margin of 14.24% and a negative return on equity of 11.03%. Splunk's quarterly revenue was up 30.1% on a year-over-year basis. During the same quarter last year, the company earned $0.38 EPS. Research analysts expect that Splunk will post -0.86 earnings per share for the current fiscal year.
In other news, CAO Timothy Emanuelson sold 1,057 shares of Splunk stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $156.79, for a total transaction of $165,727.03. Following the sale, the chief accounting officer now directly owns 28,928 shares of the company's stock, valued at $4,535,621.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas Merritt sold 14,894 shares of Splunk stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $146.15, for a total value of $2,176,758.10. Following the sale, the chief executive officer now directly owns 240,293 shares in the company, valued at $35,118,821.95. The disclosure for this sale can be found here. Insiders have sold 58,759 shares of company stock worth $8,474,257 over the last three months. Insiders own 0.34% of the company's stock.
Several hedge funds have recently made changes to their positions in the company. Quest Capital Management Inc. ADV acquired a new position in shares of Splunk in the third quarter worth approximately $27,000. HM Payson & Co. acquired a new position in shares of Splunk in the second quarter worth approximately $28,000. Lenox Wealth Management Inc. acquired a new position in shares of Splunk in the third quarter worth approximately $31,000. Assetmark Inc. lifted its stake in shares of Splunk by 102.3% in the second quarter. Assetmark Inc. now owns 265 shares of the software company's stock worth $33,000 after acquiring an additional 134 shares during the period. Finally, Commonwealth Bank of Australia lifted its stake in shares of Splunk by 43.2% in the second quarter. Commonwealth Bank of Australia now owns 325 shares of the software company's stock worth $39,000 after acquiring an additional 98 shares during the period. 90.75% of the stock is currently owned by hedge funds and other institutional investors.
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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