Splunk (NASDAQ:SPLK) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Splunk (NASDAQ:SPLK) in a report issued on Saturday. The firm 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 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $135.31.

Splunk Price Performance

Shares of SPLK opened at $156.90 on Friday. The company has a debt-to-equity ratio of 15.61, a current ratio of 1.69 and a quick ratio of 1.69. The company’s fifty day moving average price is $156.61 and its 200-day moving average price is $153.13. Splunk has a 1-year low of $82.19 and a 1-year high of $156.97. The firm has a market capitalization of $26.44 billion, a PE ratio of 124.52, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00.

Splunk (NASDAQ:SPLK) last posted its quarterly earnings results on Tuesday, February 27th. The software company reported $2.47 earnings per share for the quarter, beating 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 research analysts predict that Splunk will post 1.62 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SPLK. AE Wealth Management LLC acquired a new position in shares of Splunk in the 3rd quarter worth approximately $245,000. Avior Wealth Management LLC lifted its stake in Splunk by 1,182.5% during the third quarter. Avior Wealth Management LLC now owns 513 shares of the software company’s stock worth $75,000 after purchasing an additional 473 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in shares of Splunk by 2.6% during the third quarter. Asset Management One Co. Ltd. now owns 129,806 shares of the software company’s stock worth $18,984,000 after buying an additional 3,327 shares during the period. Handelsbanken Fonder AB grew its stake in shares of Splunk by 6.6% in the third quarter. Handelsbanken Fonder AB now owns 36,969 shares of the software company’s stock valued at $5,407,000 after buying an additional 2,285 shares in the last quarter. Finally, Simplicity Solutions LLC purchased a new stake in shares of Splunk in the 3rd quarter valued at $217,000. 87.56% of the stock is currently 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.