Splunk (NASDAQ:SPLK) Earns Buy Rating from Analysts at StockNews.com

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

Other research analysts have also recently issued reports about the company. TheStreet raised Splunk from a c rating to a b rating in a research note on Tuesday, February 27th. Truist Financial cut Splunk from a buy rating to a hold rating and set a $157.00 price objective for the company. in a research report on Wednesday, November 29th. Finally, Jefferies Financial Group reaffirmed a hold rating and set a $157.00 price objective on shares of Splunk in a research report on Monday, November 27th. Twenty-three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $135.31.

Splunk Stock Performance

Shares of SPLK opened at $156.90 on Tuesday. The company has a market cap of $26.44 billion, a price-to-earnings ratio of 124.52, a PEG ratio of 4.42 and a beta of 1.00. Splunk has a 52-week low of $82.19 and a 52-week high of $156.97. The company has a debt-to-equity ratio of 15.61, a quick ratio of 1.69 and a current ratio of 1.69. The stock has a fifty day moving average price of $155.20 and a two-hundred day moving average price of $149.98.

Splunk (NASDAQ:SPLK) last announced its quarterly earnings data 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. Analysts predict that Splunk will post 1.62 EPS for the current fiscal year.

Insider Activity

In other news, SVP Scott Morgan sold 5,017 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $152.28, for a total value of $763,988.76. Following the completion of the transaction, the senior vice president now owns 89,265 shares of the company’s stock, valued at $13,593,274.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is currently owned by insiders.

Institutional Trading of Splunk

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPLK. Raleigh Capital Management Inc. lifted its holdings in shares of Splunk by 546.2% in 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 in the last quarter. Orion Capital Management LLC purchased a new stake in shares of Splunk during the 3rd quarter valued at $33,000. Quest Partners LLC purchased a new stake in shares of Splunk during the 4th quarter valued at $36,000. Venturi Wealth Management LLC purchased a new stake in shares of Splunk during the 3rd quarter valued at $42,000. Finally, Webster Bank N. A. purchased a new stake in shares of Splunk during the 4th quarter valued at $44,000. Institutional investors and hedge funds own 87.56% of the company’s stock.

Splunk Company Profile

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.