Splunk (NASDAQ:SPLK) Now Covered by StockNews.com

StockNews.com started coverage on shares of Splunk (NASDAQ:SPLK) in a research report report published on Sunday. The brokerage issued a buy rating on the software company’s stock.

Separately, TheStreet raised shares of Splunk from a c rating to a b rating in a report on Tuesday, February 27th. Twenty-three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $135.31.

Splunk Stock Performance

NASDAQ:SPLK opened at $156.90 on Friday. Splunk has a one year low of $82.19 and a one year high of $156.97. The business has a fifty day moving average price of $156.77 and a 200-day moving average price of $153.51. The firm has a market capitalization of $26.44 billion, a price-to-earnings ratio of 124.52, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00. The company has a debt-to-equity ratio of 15.61, a current ratio of 1.69 and a quick ratio of 1.69.

Splunk (NASDAQ:SPLK) last issued its quarterly earnings results on Tuesday, February 27th. The software company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $1.42. Splunk had a return on equity of 32,117.42% and a net margin of 6.26%. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Sell-side analysts forecast that Splunk will post 1.62 EPS for the current year.

Institutional Investors Weigh In On Splunk

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raleigh Capital Management Inc. boosted its stake in shares of Splunk by 546.2% during the 3rd quarter. Raleigh Capital Management Inc. now owns 168 shares of the software company’s stock worth $25,000 after purchasing an additional 142 shares during the period. Riverview Trust Co purchased a new stake in Splunk in the 1st quarter worth about $26,000. Orion Capital Management LLC bought a new stake in Splunk in the third quarter worth about $33,000. Quest Partners LLC purchased a new position in shares of Splunk during the fourth quarter valued at approximately $36,000. Finally, Venturi Wealth Management LLC bought a new position in shares of Splunk during the third quarter valued at approximately $42,000. 87.56% of the stock is currently owned by hedge funds and other institutional investors.

About Splunk

Splunk Inc, together with its subsidiaries, develops and markets cloud services and licensed software solutions in the United States and internationally. The company offers unified security and observability platform, including Splunk Security that helps security leaders fortify their organization's digital resilience by mitigating cyber risk and meeting compliance requirements; and Splunk Observability, which provides visibility across the full stack of infrastructure, applications, and the digital customer experience.