Splunk (NASDAQ:SPLK) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of Splunk (NASDAQ:SPLKFree Report) in a report released on Wednesday morning. The brokerage 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 research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $135.31.

View Our Latest Stock Analysis on SPLK

Splunk Price Performance

Shares of NASDAQ:SPLK opened at $156.90 on Wednesday. The stock’s 50-day moving average price is $155.50 and its two-hundred day moving average price is $151.14. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 15.61. Splunk has a 12-month low of $82.19 and a 12-month high of $156.97. The firm has a market cap of $26.44 billion, a price-to-earnings ratio of 124.52, a PEG ratio of 4.42 and a beta of 1.00.

Splunk (NASDAQ:SPLKGet Free Report) last issued its quarterly 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. Splunk had a return on equity of 32,117.42% and a net margin of 6.26%. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.26 billion. On average, research analysts forecast that Splunk will post 1.62 EPS for the current year.

Insider Activity at Splunk

In related news, SVP Scott Morgan sold 5,017 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $152.28, for a total transaction of $763,988.76. Following the sale, the senior vice president now directly owns 89,265 shares in the company, valued at approximately $13,593,274.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Splunk

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Schechter Investment Advisors LLC increased its holdings in Splunk by 4.7% during the 4th quarter. Schechter Investment Advisors LLC now owns 1,570 shares of the software company’s stock worth $239,000 after purchasing an additional 71 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of Splunk by 1.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 5,018 shares of the software company’s stock worth $764,000 after acquiring an additional 91 shares in the last quarter. V Square Quantitative Management LLC grew its position in shares of Splunk by 9.6% in the 3rd quarter. V Square Quantitative Management LLC now owns 1,107 shares of the software company’s stock worth $162,000 after acquiring an additional 97 shares in the last quarter. Harbour Investments Inc. grew its position in shares of Splunk by 30.4% in the 3rd quarter. Harbour Investments Inc. now owns 442 shares of the software company’s stock worth $65,000 after acquiring an additional 103 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co grew its position in shares of Splunk by 3.6% in the 1st quarter. Meiji Yasuda Life Insurance Co now owns 3,062 shares of the software company’s stock worth $455,000 after acquiring an additional 105 shares in the last quarter. 87.56% of the stock is currently owned by hedge funds and other institutional investors.

Splunk Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Splunk (NASDAQ:SPLK)

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