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

StockNews.com initiated coverage on shares of Splunk (NASDAQ:SPLK) in a research report released on Saturday morning. The brokerage issued a buy rating on the software company’s stock.

Separately, TheStreet raised shares of Splunk from a c rating to a b rating in a report 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 presently has an average rating of Hold and an average price target of $135.31.

Splunk Stock Performance

NASDAQ SPLK opened at $156.90 on Friday. The firm has a 50 day simple moving average of $156.58 and a 200-day simple moving average of $153.03. 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 has a one year low of $82.19 and a one year high of $156.97. The firm has a market cap of $26.44 billion, a price-to-earnings ratio of 124.52, a PEG ratio of 4.42 and a beta of 1.00.

Splunk (NASDAQ:SPLK) last posted its quarterly earnings data 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 business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.26 billion. Splunk had a net margin of 6.26% and a return on equity of 32,117.42%. Equities research analysts anticipate that Splunk will post 1.62 EPS for the current fiscal year.

Institutional Trading of Splunk

Several institutional investors and hedge funds have recently bought and sold shares of SPLK. Norges Bank purchased a new stake in Splunk in the 4th quarter valued at $378,850,000. FIL Ltd raised its position in Splunk by 86.1% in the 4th quarter. FIL Ltd now owns 4,586,306 shares of the software company’s stock valued at $698,724,000 after purchasing an additional 2,121,811 shares during the last quarter. Alpine Associates Management Inc. raised its position in Splunk by 1,128.8% in the 4th quarter. Alpine Associates Management Inc. now owns 1,284,050 shares of the software company’s stock valued at $195,625,000 after purchasing an additional 1,179,550 shares during the last quarter. Balyasny Asset Management L.P. raised its position in Splunk by 155.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,727,336 shares of the software company’s stock valued at $263,160,000 after purchasing an additional 1,050,975 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. raised its position in Splunk by 85.6% in the 3rd quarter. Jericho Capital Asset Management L.P. now owns 1,394,000 shares of the software company’s stock valued at $203,872,000 after purchasing an additional 643,000 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.