Somewhat Positive News Coverage Likely to Effect Splunk (SPLK) Share Price

Somewhat Positive News Coverage Likely to Effect Splunk (SPLK) Share Price

Press coverage about Splunk (NASDAQ:SPLK) has trended somewhat positive recently, according to AlphaOne Sentiment Analysis. The research group, a service of Accern, ranks the sentiment of press coverage by analyzing more than 20 million news and blog sources in real time. AlphaOne ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Splunk earned a media sentiment score of 0.19 on AlphaOne’s scale. AlphaOne also assigned news headlines about the software company an impact score of 79 out of 100, meaning that recent press coverage is likely to have an impact on the company’s share price in the next few days.

Here are some of the news headlines that may have effected Alpha One’s analysis:

A number of research firms recently issued reports on SPLK. Zacks Investment Research raised shares of Splunk from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research note on Thursday. MKM Partners reissued a “neutral” rating and issued a $63.00 price target (up from $60.00) on shares of Splunk in a research note on Tuesday. Citigroup Inc increased their price target on shares of Splunk from $62.00 to $64.00 and gave the stock a “neutral” rating in a research note on Tuesday. Morgan Stanley reissued an “overweight” rating and issued a $74.00 price target on shares of Splunk in a research note on Tuesday. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $61.00 price target on shares of Splunk in a research note on Sunday. Nine equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Splunk has a consensus rating of “Buy” and an average target price of $72.07.

Shares of Splunk (NASDAQ:SPLK) traded up 0.59% during midday trading on Thursday, reaching $61.60. 1,630,200 shares of the company traded hands. The company’s market capitalization is $8.49 billion. Splunk has a 1-year low of $50.60 and a 1-year high of $69.23. The company has a 50 day moving average price of $64.63 and a 200 day moving average price of $60.19. Splunk also saw unusually large options trading activity on Monday. Stock traders acquired 10,523 call options on the stock. This is an increase of approximately 456% compared to the average volume of 1,891 call options.

Splunk (NASDAQ:SPLK) last released its earnings results on Thursday, May 25th. The software company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.03. The company had revenue of $242.40 million for the quarter, compared to the consensus estimate of $233.79 million. Splunk had a negative net margin of 41.72% and a negative return on equity of 41.28%. Splunk’s revenue was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.02) EPS. On average, analysts expect that Splunk will post $0.52 earnings per share for the current year.

In related news, Director Godfrey Sullivan sold 128,750 shares of the stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $60.81, for a total transaction of $7,829,287.50. Following the sale, the director now directly owns 902,926 shares of the company’s stock, valued at $54,906,930.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Leonard R. Stein sold 3,825 shares of the stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $61.74, for a total transaction of $236,155.50. Following the sale, the senior vice president now directly owns 105,609 shares in the company, valued at $6,520,299.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 219,255 shares of company stock worth $13,453,887. 3.00% of the stock is owned by insiders.

Splunk Company Profile

Splunk Inc (Splunk) is engaged in the development and marketing of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. Its offerings address diverse data sets that are referred to as big data and are specifically used for machine data.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SPLK”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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