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Canaccord Genuity Maintains Splunk (SPLK) Buy Recommendation

Fintel reports that on August 24, 2023, Canaccord Genuity maintained coverage of Splunk (NASDAQ:SPLK) with a Buy recommendation.

Analyst Price Forecast Suggests 8.28% Upside

As of August 2, 2023, the average one-year price target for Splunk is 122.17. The forecasts range from a low of 86.86 to a high of $141.75. The average price target represents an increase of 8.28% from its latest reported closing price of 112.83.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Splunk is 4,119MM, an increase of 7.18%. The projected annual non-GAAP EPS is 2.48.

What is the Fund Sentiment?

There are 1123 funds or institutions reporting positions in Splunk. This is a decrease of 44 owner(s) or 3.77% in the last quarter. Average portfolio weight of all funds dedicated to SPLK is 0.29%, a decrease of 0.09%. Total shares owned by institutions increased in the last three months by 1.64% to 161,525K shares. The put/call ratio of SPLK is 0.76, indicating a bullish outlook.

What are Other Shareholders Doing?

SPLK / Splunk Inc Shares Held by Institutions

H&F Corporate Investors X holds 12,800K shares representing 7.73% ownership of the company. No change in the last quarter.

Primecap Management holds 11,150K shares representing 6.73% ownership of the company. In it’s prior filing, the firm reported owning 11,131K shares, representing an increase of 0.17%. The firm increased its portfolio allocation in SPLK by 6.21% over the last quarter.

Pictet Asset Management holds 5,991K shares representing 3.62% ownership of the company. In it’s prior filing, the firm reported owning 6,010K shares, representing a decrease of 0.33%. The firm decreased its portfolio allocation in SPLK by 1.70% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 5,064K shares representing 3.06% ownership of the company. In it’s prior filing, the firm reported owning 4,943K shares, representing an increase of 2.39%. The firm increased its portfolio allocation in SPLK by 5.35% over the last quarter.

Clearbridge Investments holds 4,306K shares representing 2.60% ownership of the company. In it’s prior filing, the firm reported owning 4,474K shares, representing a decrease of 3.89%. The firm increased its portfolio allocation in SPLK by 0.59% over the last quarter.

Splunk Background Information
(This description is provided by the company.)

Splunk Inc. turns data into doing with the Data-to-Everything Platform. Splunk technology is designed to investigate, monitor, and analyze and act on data at any scale.

Additional reading:

Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.

Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.

Click to Learn More

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Summarize this content to 100 words

Fintel reports that on August 24, 2023, Canaccord Genuity maintained coverage of Splunk (NASDAQ:SPLK) with a Buy recommendation. Analyst Price Forecast Suggests 8.28% Upside As of August 2, 2023, the average one-year price target for Splunk is 122.17. The forecasts range from a low of 86.86 to a high of $141.75. The average price target represents an increase of 8.28% from its latest reported closing price of 112.83.

See our leaderboard of companies with the largest price target upside. The projected annual revenue for Splunk is 4,119MM, an increase of 7.18%. The projected annual non-GAAP EPS is 2.48. What is the Fund Sentiment? There are 1123 funds or institutions reporting positions in Splunk. This is a decrease of 44 owner(s) or 3.77% in the last quarter. Average portfolio weight of all funds dedicated to SPLK is 0.29%, a decrease of 0.09%. Total shares owned by institutions increased in the last three months by 1.64% to 161,525K shares. The put/call ratio of SPLK is 0.76, indicating a bullish outlook. What are Other Shareholders Doing? H&F Corporate Investors X holds 12,800K shares representing 7.73% ownership of the company. No change in the last quarter. Primecap Management holds 11,150K shares representing 6.73% ownership of the company. In it’s prior filing, the firm reported owning 11,131K shares, representing an increase of 0.17%. The firm increased its portfolio allocation in SPLK by 6.21% over the last quarter.

Pictet Asset Management holds 5,991K shares representing 3.62% ownership of the company. In it’s prior filing, the firm reported owning 6,010K shares, representing a decrease of 0.33%. The firm decreased its portfolio allocation in SPLK by 1.70% over the last quarter. VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 5,064K shares representing 3.06% ownership of the company. In it’s prior filing, the firm reported owning 4,943K shares, representing an increase of 2.39%. The firm increased its portfolio allocation in SPLK by 5.35% over the last quarter. Clearbridge Investments holds 4,306K shares representing 2.60% ownership of the company. In it’s prior filing, the firm reported owning 4,474K shares, representing a decrease of 3.89%. The firm increased its portfolio allocation in SPLK by 0.59% over the last quarter. Splunk Background Information(This description is provided by the company.) Splunk Inc. turns data into doing with the Data-to-Everything Platform. Splunk technology is designed to investigate, monitor, and analyze and act on data at any scale.

Additional reading: Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
Click to Learn MoreThis story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

https://www.nasdaq.com/articles/canaccord-genuity-maintains-splunk-splk-buy-recommendation Canaccord Genuity Maintains Splunk (SPLK) Buy Recommendation

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