Splunk Inc. (NASDAQ:SPLK) Receives Consensus Rating of “Hold” from Brokerages

Shares of Splunk Inc. (NASDAQ:SPLK) have been given an average recommendation of “Hold” by the twenty-eight brokerages that are covering the firm, MarketBeat Ratings reports. Twenty-three equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $135.31.

A number of equities research analysts have issued reports on SPLK shares. StockNews.com started coverage on Splunk in a research report on Friday, April 19th. They set a “buy” rating for the company. TheStreet raised Splunk from a “c” rating to a “b” rating in a research report on Tuesday, February 27th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SPLK. AE Wealth Management LLC acquired a new stake in shares of Splunk in the third quarter valued at $245,000. Ronald Blue Trust Inc. increased its stake in shares of Splunk by 156.4% in the third quarter. Ronald Blue Trust Inc. now owns 900 shares of the software company’s stock valued at $132,000 after buying an additional 549 shares in the last quarter. Moody National Bank Trust Division increased its stake in shares of Splunk by 21.5% in the third quarter. Moody National Bank Trust Division now owns 5,652 shares of the software company’s stock valued at $827,000 after buying an additional 1,002 shares in the last quarter. DnB Asset Management AS increased its stake in shares of Splunk by 37.2% in the third quarter. DnB Asset Management AS now owns 38,196 shares of the software company’s stock valued at $5,586,000 after buying an additional 10,353 shares in the last quarter. Finally, Global Retirement Partners LLC increased its stake in shares of Splunk by 96.6% in the third quarter. Global Retirement Partners LLC now owns 458 shares of the software company’s stock valued at $67,000 after buying an additional 225 shares in the last quarter. 87.56% of the stock is currently owned by institutional investors and hedge funds.

Splunk Stock Performance

NASDAQ:SPLK opened at $156.90 on Friday. The stock’s 50 day moving average price is $156.52 and its 200 day moving average price is $152.89. Splunk has a 52 week low of $82.19 and a 52 week high of $156.97. The company has a market capitalization of $26.44 billion, a P/E ratio of 124.52, a P/E/G 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 (NASDAQ:SPLK) last announced 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 during the quarter, compared to analysts’ expectations of $1.26 billion. Splunk had a return on equity of 32,117.42% and a net margin of 6.26%. On average, research analysts forecast that Splunk will post 1.62 EPS for the current fiscal year.

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.