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

StockNews.com assumed coverage on shares of Splunk (NASDAQ:SPLK) in a research note issued to investors on Sunday morning. The brokerage 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 investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Splunk currently has an average rating of Hold and a consensus target price of $135.31.

Splunk Stock Performance

NASDAQ SPLK opened at $156.90 on Friday. The business’s fifty day moving average is $156.77 and its 200 day moving average is $153.51. Splunk has a twelve month low of $82.19 and a twelve month high of $156.97. The company has a market cap 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. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 15.61.

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. Splunk had a net margin of 6.26% and a return on equity of 32,117.42%. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.26 billion. As a group, sell-side analysts expect that Splunk will post 1.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Raleigh Capital Management Inc. boosted 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 buying an additional 142 shares during the last quarter. Riverview Trust Co bought a new stake in Splunk in the first quarter worth about $26,000. Orion Capital Management LLC purchased a new position in Splunk in the third quarter valued at about $33,000. Quest Partners LLC bought a new position in shares of Splunk during the 4th quarter valued at approximately $36,000. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Splunk during the 3rd quarter worth approximately $42,000. 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.