Company To Watch : Splunk Inc (NASDAQ:SPLK)

Splunk Inc (NASDAQ:SPLK) (TREND ANALYSIS) says signed seven figure order with social media company in Q2. Splunk CEO Godfrey Sullivan says September conference will feature “impressive” set of announcements, including a new solution for IT service intelligence and an “exciting” new release for Splunk enterprise. SVP, field operations Doug Merritt says added over 100 global field positions during the quarter. SVP and general manager, cloud solutions Marc Olesen says customers continue to highlight need for hybrid solutions, says Splunk is uniquely positioned in that respect. Says won seven figure order from social media company during the quarter. SVP, security markets Haiyan Song says first combined solution with Caspida will focus on behavioral analytics. Splunk executives are speaking on the company’s Q2 earnings conference call.

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Splunk Inc (NASDAQ:SPLK) stock is currently trading 16.41% below its 52-week-high, 32.32% above its 52-week-low. The 1-year stock price history is in the range of $48.55 – $76.85. Splunk Inc (SPLK) has a price to book ratio of 9.47 versus Technology sector average of 2.78. SPLK stock price has outperformed the Nasdaq by 6.4%. The Internet Applications Software company is currently valued at $8.08 billion and its share price closed the last trading session at $64.24. The stock has a 50-day moving average of $69.06 and a 200-day moving average of $66.77.

Splunk Inc (SPLK) current short interest stands at 10.43 million shares. It has increased by 11% from the same period of last month. Around 9% of the company’s shares, which are float, are short sold. With a 10-days average volume of 2.04 million shares, the number of days required to cover the short positions stand at 5.2 days.

SPLK reported last quarter earnings on May 28. The Internet Applications Software company announced earnings per share of $-0.56 against a consensus Street estimate of $-0.49, missing estimate by $0.07. This corresponds to a decrease of $0.42 compared to the same quarter of the previous fiscal year.

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There are currently thirty-six analysts that cover Splunk Inc stock. Of those thirty-six, twenty-nine have a Buy rating, seven have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $79.69.

A recent analyst activity consisted of Summit Research downgrading their Buy rating to Hold on August 24. Summit Research decreased price target from $84 to $50. This corresponds to a 22.17% downside from the last closing price. On the date of report, the stock closed at $59.64.

RBC Capital initiated their coverage on the stock with Outperform rating on July 17, and fixed their price target at $85. This corresponds to a 32.32% upside from the last closing price. On the date of report, the stock closed at $72.88.

Another research firm was Oppenheimer who reiterated their Outperform stance on May 29. Oppenheimer increased their price target on Splunk Inc from $77 to $80. This translates to a 24.53% upside from the last closing price. On the date of report, the stock closed at $67.62.

Company profile

Splunk Inc. develops web based application software. The Company provides software that collects, analyzes machine data generated by websites, applications, servers, networks, and mobile devices. Splunk serves customers worldwide.

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