Splunk Inc. (NASDAQ:SPLK) Receives Average Rating of “Hold” from Brokerages

Splunk Inc. (NASDAQ:SPLK) has been given an average rating of “Hold” by the twenty-eight research firms that are presently covering the stock, Marketbeat reports. Twenty-three equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $135.31.

Several research analysts have recently commented on SPLK shares. StockNews.com initiated coverage on Splunk in a research note on Saturday. They set a “buy” rating for the company. TheStreet raised shares of Splunk from a “c” rating to a “b” rating in a research report on Tuesday, February 27th.

Splunk Stock Performance

NASDAQ SPLK opened at $156.90 on Friday. The firm 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. 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 firm’s fifty day moving average price is $156.58 and its two-hundred day moving average price is $152.98. Splunk has a 1 year low of $82.19 and a 1 year high of $156.97.

Splunk (NASDAQ:SPLK) last issued its 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 net margin of 6.26% and a return on equity of 32,117.42%. The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.26 billion. As a group, research analysts anticipate that Splunk will post 1.62 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SPLK. AE Wealth Management LLC bought a new stake in shares of Splunk during the 3rd quarter worth approximately $245,000. Ronald Blue Trust Inc. boosted its holdings in shares of Splunk by 156.4% in the 3rd quarter. Ronald Blue Trust Inc. now owns 900 shares of the software company’s stock valued at $132,000 after purchasing an additional 549 shares in the last quarter. Moody National Bank Trust Division increased its stake in shares of Splunk by 21.5% in the 3rd quarter. Moody National Bank Trust Division now owns 5,652 shares of the software company’s stock valued at $827,000 after purchasing an additional 1,002 shares during the last quarter. DnB Asset Management AS raised its holdings in shares of Splunk by 37.2% during the 3rd quarter. DnB Asset Management AS now owns 38,196 shares of the software company’s stock worth $5,586,000 after buying an additional 10,353 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its position in shares of Splunk by 96.6% during the 3rd quarter. Global Retirement Partners LLC now owns 458 shares of the software company’s stock worth $67,000 after buying an additional 225 shares during the last quarter. 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.