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

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

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

Splunk Price Performance

Shares of NASDAQ:SPLK opened at $156.90 on Wednesday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 15.61. The company has a market cap of $26.44 billion, a P/E 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 50-day moving average price of $155.72 and a 200 day moving average price of $151.48.

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

Insiders Place Their Bets

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

Institutional Trading of Splunk

Institutional investors have recently made changes to their positions in the stock. Raleigh Capital Management Inc. grew 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 valued at $25,000 after buying an additional 142 shares during the period. 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. Quarry LP purchased a new stake in shares of Splunk during the 2nd quarter valued at $41,000. Finally, Venturi Wealth Management LLC acquired a new position in shares of Splunk during the 3rd quarter valued at $42,000. 87.56% of the stock is owned by hedge funds and other institutional investors.

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.