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

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

SPLK has been the subject of several other reports. TheStreet upgraded shares of Splunk from a c rating to a b rating in a research report on Tuesday, February 27th. Jefferies Financial Group reiterated a hold rating and set a $157.00 price target on shares of Splunk in a report on Monday, November 27th. Finally, Truist Financial downgraded shares of Splunk from a buy rating to a hold rating and set a $157.00 price target for the company. in a report on Wednesday, November 29th. Twenty-three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $135.31.

Splunk Stock Performance

Splunk stock opened at $156.90 on Tuesday. Splunk has a 52 week low of $82.19 and a 52 week 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. The stock has a market capitalization of $26.44 billion, a P/E ratio of 124.52, a PEG ratio of 4.42 and a beta of 1.00. The stock has a 50-day simple moving average of $155.20 and a 200 day simple moving average of $149.98.

Splunk (NASDAQ:SPLK) last posted 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. 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 during the quarter, compared to analysts’ expectations of $1.26 billion. Analysts expect that Splunk will post 1.62 earnings per share for the current year.

Insider Buying and Selling at Splunk

In other news, SVP Scott Morgan sold 5,017 shares of the stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $152.28, for a total transaction of $763,988.76. Following the transaction, the senior vice president now owns 89,265 shares of the company’s stock, valued at approximately $13,593,274.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Splunk

Institutional investors and hedge funds have recently made changes to their positions in the stock. Raleigh Capital Management Inc. raised its holdings 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 during the last quarter. Orion Capital Management LLC acquired a new stake in shares of Splunk in the 3rd quarter worth about $33,000. Quest Partners LLC acquired a new stake in shares of Splunk in the 4th quarter worth about $36,000. Venturi Wealth Management LLC acquired a new stake in shares of Splunk in the 3rd quarter worth about $42,000. Finally, Webster Bank N. A. acquired a new stake in shares of Splunk in the 4th quarter worth about $44,000. 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.