Splunk Inc. (SPLK) Is Up After Q3 Profit Beat & New CEO Named

Splunk, Splunk , Listen to Your Data, The Engine for Machine Data, Hunk, Splunk Cloud, Splunk Light, SPL and Splunk MINT are trademarks and registered trademarks of Splunk Inc.in the United States and other countries.

For the current week, the company shares have a recommendation consensus of Buy. Splunk’s revenue was up 50.3% on a year-over-year basis.

In the end – notwithstanding its sudden, albeit seemingly unalarming CEO departure – this was another solid report from Splunk as it works to secure as much share of its burgeoning industry as possible in these early stages.

Splunk (NASDAQ:SPLK)’s stock had its “outperform” rating restated by research analysts at Wedbush in a research note issued to investors on Friday, Market Beat reports. Deutsche Bank reiterated a “buy” rating and issued a $80.00 target price on shares of Splunk in a research report on Tuesday, August 11th. Splunk’s IPO was acclaimed as one of most successful tech offerings in the decade with share prices surging 108% on the first day of trading. The 52-week low of the share price is at $51.41.

Splunk stock finished the day at US$62.76, up $0.84 cents or 1.36 per cent, so Sullivan’s departure clearly isn’t seen as a worry. The stock was sold at an average price of $59.73, for a total value of $1,562,715.99.

Update: The stock is now up $2.04, or nearly 4%, at $64.80. The stock was sold at an average price of $57.46, for a total transaction of $574,600.00. Also, SVP Leonard R. Stein sold 3,125 shares of the stock in a transaction dated Tuesday, September 8th. Following the completion of the sale, the chief financial officer now directly owns 110,776 shares in the company, valued at $6,616,650.48. The disclosure for this sale can be found here.

Splunk Inc. provides software products. The Business ‘s products enable users to collect, index, search, explore, track and analyze data no matter source or format. The Business ‘s products address diverse data sets referred to as data that is big and are especially tailored for machine-created data.

This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding Splunk’s market opportunity and customer adoption and engagement, the value and capabilities realized by customers using Splunk’s products and services, and momentum and growth in the company’s business. In addition, the Business offers user behavioral analytics to help detect, respond to and mitigate hidden, complex and insider threats.