Splunk Inc (SPLK) was Downgraded by Citigroup to ” Neutral” and the brokerage firm has set the Price Target at $62. Earlier the firm had a rating of “Buy ” on the company shares. Citigroup advised their investors in a research report released on Jul 20, 2016.
Many Wall Street Analysts have commented on Splunk Inc. Company shares were Reiterated by Stifel on Jun 16, 2016 to “Buy”, Firm has raised the Price Target to $ 62 from a previous price target of $56 .Company shares were Reiterated by BMO Capital Markets on Jun 15, 2016 to “Outperform”, Firm has raised the Price Target to $ 62 from a previous price target of $58 .Company shares were Reiterated by Maxim Group on May 27, 2016 to “Buy”, Firm has raised the Price Target to $ 75 from a previous price target of $72 .
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 closed down -0.67 points or -1.14% at $58.04 with 12,95,491 shares getting traded on Monday. Post opening the session at $58.79, the shares hit an intraday low of $58 and an intraday high of $59.6492 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Jul 13, 2016, Godfrey Sullivan (director) sold 120,000 shares at $58.28 per share price. According to the SEC, on Jul 13, 2016, Leonard R Stein (SVP, General Counsel & Sec.) sold 7,000 shares at $59.00 per share price. On Jun 22, 2016, Steven R Sommer (SVP & Chief Marketing Officer) sold 465 shares at $58.51 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.