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

StockNews.com assumed coverage on shares of Splunk (NASDAQ:SPLK) in a research report released on Sunday morning. The firm issued a buy rating on the software company’s stock.

Separately, TheStreet raised Splunk from a c rating to a b rating in a research note on Tuesday, February 27th. Twenty-three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $135.31.

Splunk Stock Performance

Splunk stock opened at $156.90 on Friday. The stock has a market cap of $26.44 billion, a PE ratio of 124.52, a P/E/G ratio of 4.42 and a beta of 1.00. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 15.61. The stock has a 50-day moving average price of $156.77 and a 200 day moving average price of $153.51. Splunk has a 52 week low of $82.19 and a 52 week high of $156.97.

Splunk (NASDAQ:SPLK) last issued its quarterly earnings results on Tuesday, February 27th. The software company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $1.42. The business 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%. Equities research analysts predict that Splunk will post 1.62 earnings per share for the current fiscal year.

Institutional Trading of Splunk

Hedge funds and other institutional investors have recently bought and sold shares of the company. Raleigh Capital Management Inc. grew its position 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 acquiring an additional 142 shares in the last quarter. Riverview Trust Co bought a new position in Splunk during the first quarter worth $26,000. Orion Capital Management LLC acquired a new position in Splunk in the third quarter worth $33,000. Quest Partners LLC bought a new stake in Splunk during the fourth quarter valued at $36,000. Finally, Venturi Wealth Management LLC acquired a new stake in shares of Splunk during the third quarter worth $42,000. 87.56% of the stock is owned by institutional investors.

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.