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

StockNews.com started coverage on shares of Splunk (NASDAQ:SPLK) in a report published on Thursday morning. The brokerage 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 report on Tuesday, February 27th. Twenty-three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Splunk presently has an average rating of Hold and an average price target of $135.31.

Splunk Price Performance

Splunk stock opened at $156.90 on Thursday. The company’s 50 day simple moving average is $155.99 and its 200-day simple moving average is $152.17. The company has a market capitalization of $26.44 billion, a price-to-earnings ratio of 124.52, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00. Splunk has a 1 year low of $82.19 and a 1 year high of $156.97. The company has a debt-to-equity ratio of 15.61, a quick ratio of 1.69 and a current ratio of 1.69.

Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Tuesday, February 27th. The software company reported $2.47 earnings per share 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 analysts’ expectations of $1.26 billion. Splunk had a net margin of 6.26% and a return on equity of 32,117.42%. As a group, equities research analysts expect that Splunk will post 1.62 earnings per share for the current year.

Institutional Trading of Splunk

Several institutional investors and hedge funds have recently bought and sold shares of the business. Schechter Investment Advisors LLC raised its position in Splunk by 4.7% in the 4th quarter. Schechter Investment Advisors LLC now owns 1,570 shares of the software company’s stock valued at $239,000 after purchasing an additional 71 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Splunk by 1.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 5,018 shares of the software company’s stock valued at $764,000 after purchasing an additional 91 shares during the last quarter. V Square Quantitative Management LLC raised its position in Splunk by 9.6% in the 3rd quarter. V Square Quantitative Management LLC now owns 1,107 shares of the software company’s stock valued at $162,000 after purchasing an additional 97 shares during the last quarter. Harbour Investments Inc. raised its position in Splunk by 30.4% in the 3rd quarter. Harbour Investments Inc. now owns 442 shares of the software company’s stock valued at $65,000 after purchasing an additional 103 shares during the last quarter. Finally, Meiji Yasuda Life Insurance Co raised its position in Splunk by 3.6% in the 1st quarter. Meiji Yasuda Life Insurance Co now owns 3,062 shares of the software company’s stock valued at $455,000 after purchasing an additional 105 shares during the last quarter. 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.