Splunk (NASDAQ:SPLK) Now Covered by Goldman Sachs Group

Analysts at Goldman Sachs Group began coverage on shares of Splunk (NASDAQ:SPLK) in a research note issued on Friday, June 7th, Marketbeat.com reports. The brokerage set a “neutral” rating and a $119.00 price target on the software company’s stock. Goldman Sachs Group’s price target suggests a potential downside of 4.99% from the company’s previous close.

SPLK has been the subject of a number of other research reports. BidaskClub downgraded shares of Splunk from a “buy” rating to a “hold” rating in a research note on Friday, March 15th. Wedbush boosted their price objective on shares of Splunk from $159.00 to $163.00 and gave the stock an “outperform” rating in a research note on Friday, May 24th. Northland Securities restated a “buy” rating and issued a $160.00 price objective on shares of Splunk in a research note on Friday, May 24th. Mizuho began coverage on shares of Splunk in a research note on Wednesday, March 13th. They issued a “buy” rating and a $150.00 price objective for the company. Finally, Barclays boosted their price objective on shares of Splunk from $154.00 to $158.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $144.27.

SPLK traded down $0.50 during midday trading on Friday, hitting $125.25. 2,124,900 shares of the company’s stock traded hands, compared to its average volume of 1,743,893. The stock has a market capitalization of $19.25 billion, a P/E ratio of -78.82 and a beta of 2.06. The company’s fifty day moving average price is $122.58. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 1.29. Splunk has a one year low of $83.69 and a one year high of $143.70.

Splunk (NASDAQ:SPLK) last issued its quarterly earnings data on Thursday, May 23rd. The software company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.08). Splunk had a negative net margin of 16.31% and a negative return on equity of 14.98%. The firm had revenue of $424.90 million during the quarter, compared to analyst estimates of $395.92 million. During the same period in the prior year, the company earned ($0.07) earnings per share. The business’s quarterly revenue was up 36.4% compared to the same quarter last year. On average, equities analysts forecast that Splunk will post -0.99 earnings per share for the current fiscal year.

In other news, SVP Timothy Tully sold 6,655 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $128.06, for a total value of $852,239.30. Following the completion of the transaction, the senior vice president now owns 127,727 shares in the company, valued at approximately $16,356,719.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ledger Susan St. sold 2,221 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $119.96, for a total value of $266,431.16. Following the completion of the transaction, the insider now owns 235,094 shares of the company’s stock, valued at approximately $28,201,876.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,174 shares of company stock worth $6,779,676. 0.34% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the business. Cable Hill Partners LLC purchased a new stake in shares of Splunk during the 1st quarter valued at $25,000. Berman Capital Advisors LLC acquired a new stake in shares of Splunk during the 4th quarter valued at about $29,000. Trustcore Financial Services LLC acquired a new stake in shares of Splunk during the 1st quarter valued at about $37,000. Bessemer Group Inc. grew its position in shares of Splunk by 192.2% during the 4th quarter. Bessemer Group Inc. now owns 301 shares of the software company’s stock valued at $32,000 after acquiring an additional 198 shares during the period. Finally, Icon Wealth Partners LLC acquired a new stake in shares of Splunk during the 1st quarter valued at about $44,000. Institutional investors and hedge funds own 91.86% of the company’s stock.

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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