Splunk (NASDAQ:SPLK) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Splunk (NASDAQ:SPLK) in a research note released on Friday. The brokerage issued a buy rating on the software company’s stock.

Separately, TheStreet upgraded Splunk from a c rating to a b rating in a 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’s stock. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $135.31.

Splunk Price Performance

Shares of Splunk stock opened at $156.90 on Friday. The stock has a market capitalization of $26.44 billion, a price-to-earnings ratio of 124.52, a P/E/G ratio of 4.42 and a beta of 1.00. The firm’s 50-day moving average price is $156.42 and its two-hundred day moving average price is $152.78. 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 has a 1-year low of $82.19 and a 1-year high of $156.97.

Splunk (NASDAQ:SPLK) last announced its earnings results on Tuesday, February 27th. The software company reported $2.47 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.26 billion. On average, equities analysts predict that Splunk will post 1.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Splunk

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Riverview Trust Co bought a new position in Splunk during the first quarter worth about $26,000. Kapitalo Investimentos Ltda bought a new position in Splunk during the 4th quarter worth approximately $242,000. Yeomans Consulting Group Inc. bought a new position in Splunk during the 4th quarter worth approximately $421,000. Vanguard Group Inc. grew its holdings in Splunk by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 16,363,126 shares of the software company’s stock valued at $2,492,922,000 after purchasing an additional 307,552 shares during the period. Finally, American International Group Inc. increased its stake in Splunk by 440.2% in the fourth quarter. American International Group Inc. now owns 14,341 shares of the software company’s stock valued at $2,185,000 after purchasing an additional 11,686 shares in the last quarter. Institutional investors own 87.56% of the company’s stock.

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.