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

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

Other research analysts have also issued reports about the stock. TheStreet raised shares of Splunk from a c rating to a b rating in a research note on Tuesday, February 27th. Truist Financial lowered shares of Splunk from a buy rating to a hold rating and set a $157.00 price objective for the company. in a research note 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 note on Monday, November 27th. Twenty-three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Splunk has a consensus rating of Hold and an average price target of $135.31.

Splunk Price Performance

NASDAQ SPLK opened at $156.90 on Tuesday. Splunk has a 12 month low of $82.19 and a 12 month high of $156.97. The stock 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. The company’s 50 day moving average is $155.20 and its two-hundred day moving average is $149.98. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 15.61.

Splunk (NASDAQ:SPLK) last released its quarterly earnings data on Tuesday, February 27th. The software company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $1.42. Splunk had a net margin of 6.26% and a return on equity of 32,117.42%. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.26 billion. As a group, research analysts anticipate that Splunk will post 1.62 earnings per share for the current year.

Insider Activity at Splunk

In other Splunk news, SVP Scott Morgan sold 5,017 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now owns 89,265 shares in the company, valued at approximately $13,593,274.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. lifted its holdings in Splunk by 546.2% in the 3rd quarter. Raleigh Capital Management Inc. now owns 168 shares of the software company’s stock valued at $25,000 after purchasing an additional 142 shares in the last quarter. Orion Capital Management LLC purchased a new position in shares of Splunk during the 3rd quarter worth $33,000. Quest Partners LLC purchased a new position in shares of Splunk during the 4th quarter worth $36,000. Quarry LP purchased a new position in shares of Splunk during the 2nd quarter worth $41,000. Finally, Venturi Wealth Management LLC purchased a new position in shares of Splunk during the 3rd quarter worth $42,000. Hedge funds and other institutional investors 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.