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

Stock analysts at StockNews.com began coverage on shares of Splunk (NASDAQ:SPLK) in a note issued to investors on Saturday. The brokerage set a “buy” rating on the software company’s stock.

Separately, TheStreet upgraded Splunk from a “c” rating to a “b” rating in a research note on Tuesday, February 27th. Twenty-three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $135.31.

Splunk Stock Performance

Shares of SPLK opened at $156.90 on Friday. Splunk has a one year low of $82.19 and a one year high of $156.97. The business has a fifty day moving average of $156.58 and a 200 day moving average of $152.98. The company has a debt-to-equity ratio of 15.61, a current ratio of 1.69 and a quick ratio of 1.69. The firm has a market capitalization of $26.44 billion, a P/E ratio of 124.52, a PEG ratio of 4.42 and a beta of 1.00.

Splunk (NASDAQ:SPLK) last issued its quarterly earnings data on Tuesday, February 27th. The software company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $1.05 by $1.42. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Splunk had a net margin of 6.26% and a return on equity of 32,117.42%. As a group, sell-side analysts anticipate that Splunk will post 1.62 EPS for the current year.

Institutional Trading of Splunk

Hedge funds have recently modified their holdings of the company. Carmignac Gestion bought a new position in shares of Splunk in the 3rd quarter valued at about $6,248,000. Nordea Investment Management AB increased its position in shares of Splunk by 682.1% during the 4th 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 during the last quarter. DNB Asset Management AS increased its position in shares of Splunk by 25.8% during the 4th 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 during the last quarter. Capula Management Ltd purchased a new stake in Splunk during the 3rd quarter valued at $2,486,000. Finally, QRG Capital Management Inc. bought a new stake in Splunk in the third quarter worth $320,000. 87.56% of the stock is owned by hedge funds and other institutional investors.

About Splunk

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.