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

StockNews.com began coverage on shares of Splunk (NASDAQ:SPLK) in a research report sent to investors on Friday morning. The firm issued a buy rating on the software company’s stock.

Separately, TheStreet upgraded Splunk from a c rating to a b rating in a 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 company. According to MarketBeat, Splunk presently has an average rating of Hold and a consensus price target of $135.31.

Splunk Stock Performance

Shares of NASDAQ:SPLK opened at $156.90 on Friday. The company has a market cap of $26.44 billion, a P/E ratio of 124.52, a PEG ratio of 4.42 and a beta of 1.00. 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 business’s 50-day simple moving average is $156.37 and its 200 day simple moving average is $152.63.

Splunk (NASDAQ:SPLK) last announced its earnings results on Tuesday, February 27th. The software company reported $2.47 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.26 billion. On average, sell-side analysts forecast that Splunk will post 1.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SPLK. Raleigh Capital Management Inc. grew its stake in Splunk by 546.2% during 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 position in Splunk during the 1st quarter worth $26,000. Orion Capital Management LLC bought a new position in shares of Splunk in the third quarter worth $33,000. Quest Partners LLC bought a new position in shares of Splunk in the fourth quarter worth $36,000. Finally, Quarry LP bought a new position in shares of Splunk in the second quarter worth $41,000. 87.56% of the stock is currently owned by institutional investors.

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.