The stock of Splunk Inc (NASDAQ:SPLK) gapped up by $0.2 today and has $84.43 target or 38.00% above today’s $61.18 share price. The 5 months technical chart setup indicates low risk for the $8.37 billion company. The gap was reported on Oct, 4 by Barchart.com. If the $84.43 price target is reached, the company will be worth $3.18B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 4.26% or $2.5 during the last trading session, hitting $61.18. About 2.26M shares traded hands or 29.89% up from the average. Splunk Inc (NASDAQ:SPLK) has risen 33.03% since March 1, 2016 and is uptrending. It has outperformed by 20.81% the S&P500.
Splunk Inc (NASDAQ:SPLK) Ratings Coverage
Out of 29 analysts covering Splunk Inc (NASDAQ:SPLK), 20 rate it a “Buy”, 0 “Sell”, while 9 “Hold”. This means 69% are positive. Splunk Inc has been the topic of 59 analyst reports since August 24, 2015 according to StockzIntelligence Inc. Robert W. Baird maintained Splunk Inc (NASDAQ:SPLK) on Friday, August 26 with “Outperform” rating. The stock of Splunk Inc (NASDAQ:SPLK) earned “Neutral” rating by Citigroup on Friday, August 26. Wedbush maintained the stock with “Outperform” rating in Friday, August 28 report. On Friday, August 26 the stock rating was maintained by Barclays Capital with “Equal-Weight”. Citigroup downgraded the stock to “Neutral” rating in Wednesday, July 20 report. The rating was downgraded by Stifel Nicolaus on Friday, August 26 to “Hold”. The company was maintained on Monday, August 31 by Needham. M Partners initiated the stock with “Neutral” rating in Friday, May 6 report. Canaccord Genuity maintained Splunk Inc (NASDAQ:SPLK) on Friday, August 26 with “Buy” rating. Summit Redstone Partners initiated the stock with “Buy” rating in Tuesday, September 6 report.
According to Zacks Investment Research, “Splunk Inc. provides a software platform, which collects and indexes data and enables users to search, correlate, analyze, monitor and report on this data, all in real time. Its software is designed to help users in various roles, including IT and business professionals. Splunk Inc. is based in San Francisco, California.”
Insitutional Activity: The institutional sentiment increased to 1.39 in Q2 2016. Its up 0.28, from 1.11 in 2016Q1. The ratio improved, as 35 funds sold all Splunk Inc shares owned while 85 reduced positions. 53 funds bought stakes while 114 increased positions. They now own 131.07 million shares or 0.87% more from 129.93 million shares in 2016Q1.
Amalgamated Bancorp reported 20,922 shares or 0.08% of all its holdings. Princeton Alpha Mgmt Lp accumulated 0.09% or 9,808 shares. Axa, a France-based fund reported 158,100 shares. The Ohio-based Strs Ohio has invested 0% in Splunk Inc (NASDAQ:SPLK). Robeco Institutional Asset Bv owns 151,800 shares or 0.06% of their US portfolio. Franklin Resource last reported 102,800 shares in the company. Lazard Asset Management Llc holds 1.10M shares or 0.14% of its portfolio. Price T Rowe Associate Md owns 3.82M shares or 0.04% of their US portfolio. Mycio Wealth Limited Liability Company reported 59 shares or 0% of all its holdings. Credit Suisse Ag last reported 0.02% of its portfolio in the stock. Cypress Cap Mngmt Ltd Liability Corp (Wy) holds 0% or 100 shares in its portfolio. Marketfield Asset Mngmt Ltd Limited Liability Company has 0.23% invested in the company for 97,571 shares. D E Shaw And Inc reported 62,895 shares or 0.01% of all its holdings. Sands Mngmt accumulated 1.69% or 10.12 million shares. Zacks Invest Mngmt reported 9,967 shares or 0.02% of all its holdings.
Insider Transactions: Since April 4, 2016, the stock had 0 insider buys, and 19 selling transactions for $48.27 million net activity. 5,855 shares with value of $340,601 were sold by Sommer Steven R on Wednesday, June 15. STEIN LEONARD R had sold 7,000 shares worth $413,000 on Tuesday, July 12. The insider SULLIVAN GODFREY sold $6.01M. CONTE DAVID F sold $675,470 worth of Splunk Inc (NASDAQ:SPLK) on Thursday, August 11. On Wednesday, September 14 the insider Merritt Douglas sold $357,606.
More recent Splunk Inc (NASDAQ:SPLK) news were published by: Investorplace.com which released: “Is Splunk Inc a Solid Stock to Buy Now? (SPLK)” on September 26, 2016. Also Benzinga.com published the news titled: “Splunk’s Product Enhancements Could Improve Its Competitive Position” on September 30, 2016. Businesswire.com‘s news article titled: “Splunk Invests in Developer Ecosystem to Fuel Platform Innovation” with publication date: September 27, 2016 was also an interesting one.
SPLK Company Profile
Splunk Inc., incorporated on April 11, 2006, is a well-known provider of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. It operates through the development and marketing of software solutions segment, which enables its clients to gain real-time operational intelligence by harnessing the value of their data. The Company’s offerings address diverse data sets that are referred to as big data and are specifically used for machine-generated data. Machine data is produced by various software application and electronic devices in an organization and contains a definitive, time-stamped record of various activities, such as transactions, customer and user activities and security threats. The Company’s products help users in various roles, including information technology (IT), security and business professionals, to analyze their machine data and achieve real-time visibility into and intelligence about their organization’s operations. In addition, the Company offers user behavioral analytics to help detect, respond to and mitigate advanced, hidden and insider threats.
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