Splunk Inc. (NASDAQ:SPLK) Given Average Rating of “Hold” by Brokerages

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

SPLK has been the topic of several research analyst reports. StockNews.com initiated coverage on Splunk in a research note on Friday. They set a “buy” rating on the stock. TheStreet upgraded Splunk from a “c” rating to a “b” rating in a research note on Tuesday, February 27th.

Splunk Stock Performance

Shares of NASDAQ:SPLK opened at $156.90 on Friday. Splunk has a 12-month low of $82.19 and a 12-month high of $156.97. The business’s fifty day simple moving average is $156.37 and its 200-day simple moving average is $152.63. The company has a market capitalization of $26.44 billion, a PE ratio of 124.52, a P/E/G ratio of 4.42 and a beta of 1.00. 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 (NASDAQ:SPLK) last announced its quarterly earnings results on Tuesday, February 27th. The software company reported $2.47 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.26 billion. As a group, equities research analysts predict that Splunk will post 1.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Splunk

Several institutional investors and hedge funds have recently modified their holdings of the stock. Schechter Investment Advisors LLC lifted its holdings in shares of Splunk by 4.7% in the 4th quarter. Schechter Investment Advisors LLC now owns 1,570 shares of the software company’s stock valued at $239,000 after buying an additional 71 shares during the period. Geneos Wealth Management Inc. raised its holdings in 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 purchasing an additional 91 shares during the period. V Square Quantitative Management LLC raised its holdings in 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 purchasing an additional 97 shares during the period. Harbour Investments Inc. raised its holdings in 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 purchasing an additional 103 shares during the period. Finally, Meiji Yasuda Life Insurance Co raised its holdings in 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 purchasing an additional 105 shares during the period. Institutional investors and hedge funds 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.