Fintel reports that on September 21, 2023, William Blair downgraded their outlook for Splunk (NASDAQ:SPLK) from Outperform to Market Perform.

Analyst Price Forecast Suggests 8.29% Upside

As of August 31, 2023, the average one-year price target for Splunk is 129.51. The forecasts range from a low of 106.05 to a high of $157.50. The average price target represents an increase of 8.29% from its latest reported closing price of 119.59.

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 1118 funds or institutions reporting positions in Splunk. This is a decrease of 37 owner(s) or 3.20% in the last quarter. Average portfolio weight of all funds dedicated to SPLK is 0.30%, a decrease of 1.12%. Total shares owned by institutions increased in the last three months by 1.80% to 161,500K shares. The put/call ratio of SPLK is 0.74, indicating a bullish outlook.

What are Other Shareholders Doing?

H&F Corporate Investors X holds 12,800K shares representing 7.63% ownership of the company. No change in the last quarter.

Primecap Management holds 11,150K shares representing 6.65% 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 3.57% ownership of the company. In it’s prior filing, the firm reported owning 6,010K shares, representing a decrease of 0.33%. The firm increased its portfolio allocation in SPLK by 79.70% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 5,169K shares representing 3.08% ownership of the company. In it’s prior filing, the firm reported owning 5,064K shares, representing an increase of 2.03%. The firm increased its portfolio allocation in SPLK by 4.20% over the last quarter.

Clearbridge Investments holds 4,306K shares representing 2.57% 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.

This article originally appeared on Fintel

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