Splunk (NASDAQ:SPLK) Earns Buy Rating from Analysts at StockNews.com

Stock analysts at StockNews.com assumed coverage on shares of Splunk (NASDAQ:SPLK) in a report released on Friday. The brokerage set a “buy” rating on the software company’s stock.

Separately, TheStreet upgraded Splunk from a “c” rating to a “b” rating in a research note 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. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $135.31.

Splunk Stock Performance

NASDAQ SPLK opened at $156.90 on Friday. 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 has a one year low of $82.19 and a one year high of $156.97. The company has a 50-day simple moving average of $156.33 and a 200-day simple moving average of $152.55. 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 issued its earnings results on Tuesday, February 27th. The software company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $1.42. The firm had revenue of $1.49 billion for 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%. On average, equities analysts forecast that Splunk will post 1.62 earnings per share for the current year.

Hedge Funds Weigh In On Splunk

Several hedge funds have recently made changes to their positions in the business. Raleigh Capital Management Inc. boosted its holdings in Splunk by 546.2% during the third quarter. Raleigh Capital Management Inc. now owns 168 shares of the software company’s stock worth $25,000 after buying an additional 142 shares in the last quarter. Riverview Trust Co acquired a new position in shares of Splunk in the 1st quarter worth $26,000. Orion Capital Management LLC acquired a new stake in shares of Splunk during the third quarter worth $33,000. Quest Partners LLC purchased a new stake in shares of Splunk during the fourth quarter valued at $36,000. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Splunk during the third quarter valued at $42,000. Institutional investors and hedge funds 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.