StockNews.com Initiates Coverage on Splunk (NASDAQ:SPLK)

Analysts at StockNews.com started coverage on shares of Splunk (NASDAQ:SPLK) in a report issued on Sunday. The brokerage set a “buy” rating on the software company’s stock.

Separately, TheStreet upgraded shares of Splunk from a “c” rating to a “b” rating in a report on Tuesday, February 27th. Twenty-three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Splunk presently has an average rating of “Hold” and a consensus price target of $135.31.

Splunk Price Performance

SPLK stock opened at $156.90 on Friday. Splunk has a 12 month low of $82.19 and a 12 month high of $156.97. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 15.61. The company has a 50-day moving average price of $156.75 and a 200 day moving average price of $153.45. The stock has a market cap of $26.44 billion, a PE ratio of 124.52, a P/E/G ratio of 4.42 and a beta of 1.00.

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

Institutional Trading of Splunk

Several large investors have recently bought and sold shares of the stock. Riverview Trust Co purchased a new stake in Splunk during the 1st quarter worth approximately $26,000. Kapitalo Investimentos Ltda purchased a new stake in Splunk during the 4th quarter worth approximately $242,000. Yeomans Consulting Group Inc. purchased a new stake in Splunk during the 4th quarter worth approximately $421,000. Vanguard Group Inc. grew its position in Splunk by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 16,363,126 shares of the software company’s stock worth $2,492,922,000 after purchasing an additional 307,552 shares during the last quarter. Finally, American International Group Inc. grew its position in Splunk by 440.2% during the 4th quarter. American International Group Inc. now owns 14,341 shares of the software company’s stock worth $2,185,000 after purchasing an additional 11,686 shares during the last quarter. Hedge funds and other institutional investors 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.