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

StockNews.com assumed coverage on shares of Splunk (NASDAQ:SPLK) in a research note issued to investors on Friday 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 analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $135.31.

Splunk Price Performance

NASDAQ SPLK opened at $156.90 on Friday. The stock has a fifty day moving average of $156.37 and a 200-day moving average of $152.63. The stock has a market capitalization of $26.44 billion, a P/E ratio of 124.52, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00. Splunk has a 52 week low of $82.19 and a 52 week high of $156.97. 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 released 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. The company 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, equities research analysts forecast that Splunk will post 1.62 EPS for the current year.

Institutional Trading of Splunk

Institutional investors have recently modified their holdings of the company. Carmignac Gestion bought a new stake in shares of Splunk in the third quarter valued at about $6,248,000. Nordea Investment Management AB lifted its holdings in shares of Splunk by 682.1% in the fourth quarter. Nordea Investment Management AB now owns 84,838 shares of the software company’s stock valued at $12,909,000 after purchasing an additional 73,990 shares in the last quarter. DNB Asset Management AS lifted its holdings in shares of Splunk by 25.8% in the fourth quarter. DNB Asset Management AS now owns 48,043 shares of the software company’s stock valued at $7,319,000 after purchasing an additional 9,847 shares in the last quarter. Capula Management Ltd bought a new stake in shares of Splunk in the third quarter valued at about $2,486,000. Finally, QRG Capital Management Inc. bought a new stake in shares of Splunk in the third quarter valued at about $320,000. 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.