Splunk Inc (SPLK) is Downgraded by Stifel to Hold

Splunk Inc (SPLK) was Downgraded by Stifel to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Stifel advised their investors in a research report released on Aug 26, 2016.

Many Wall Street Analysts have commented on Splunk Inc. Company shares were Reiterated by RBC Capital Mkts on Aug 19, 2016 to “Outperform”, Firm has raised the Price Target to $ 70 from a previous price target of $60 .Company shares were Reiterated by Wedbush on Aug 19, 2016 to “Outperform”, Firm has raised the Price Target to $ 70 from a previous price target of $60 .Company shares were Reiterated by Maxim Group on Jul 21, 2016 to “Buy”, Firm has raised the Price Target to $ 84 from a previous price target of $75 .

On the company’s financial health, Splunk Inc reported $-0.02 EPS for the quarter, based on the information available during the earnings call on May 26, 2016. Analyst had a consensus estimate of $-0.02. The company had revenue of $186.00 million for the quarter, compared to analysts expectations of $174.18 million. The company’s revenue was up 48.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.01 EPS.

Splunk Inc opened for trading at $64.44 and hit $65.33 on the upside on Tuesday, eventually ending the session at $64.85, with a gain of 1.55% or 0.99 points. The heightened volatility saw the trading volume jump to 19,30,926 shares. Company has a market cap of $8,617 M.

In a different news, on Aug 22, 2016, Steven R Sommer (SVP & Chief Marketing Officer) sold 5,000 shares at $63.81 per share price. According to the SEC, on Aug 15, 2016, David F Conte (SVP & Chief Financial Officer) sold 10,575 shares at $63.91 per share price. On Aug 10, 2016, Godfrey Sullivan (director) sold 120,000 shares at $62.16 per share price, according to the Form-4 filing with the securities and exchange commission.

Splunk Inc. is a provider of software products that allow organizations to gain real-time operational intelligence by harnessing the value of their data. The Company’s products allow users to collect index search explore monitor and analyze data regardless of format or source. The Company’s products address diverse data sets referred to as big data and are specifically tailored for machine-generated data. The Company’s flagship product is Splunk Enterprise which is a machine data engine consisting of collection indexing search reporting analysis alerting and monitoring and data management capabilities. The Company’s Splunk Cloud service delivers the core functionalities of Splunk Enterprise as a cloud service. In addition the Company offers user behavioral analytics to help detect respond to and mitigate advanced hidden and insider threats.

Splunk Inc

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