Splunk (NASDAQ:SPLK) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Splunk (NASDAQ:SPLK) in a research note published on Sunday. 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 report 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 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

Shares of NASDAQ:SPLK remained flat at $156.90 during trading on Friday. The stock had a trading volume of 5,546 shares, compared to its average volume of 2,084,977. 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’s fifty day moving average price is $156.72 and its two-hundred day moving average price is $153.38. Splunk has a 1-year low of $82.19 and a 1-year high of $156.97. The company has a market cap of $26.44 billion, a price-to-earnings ratio of 124.52, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00.

Splunk (NASDAQ:SPLK) last issued its earnings results on Tuesday, February 27th. The software company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $1.05 by $1.42. The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.26 billion. Splunk had a net margin of 6.26% and a return on equity of 32,117.42%. On average, equities analysts anticipate that Splunk will post 1.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Splunk

Several large investors have recently modified their holdings of the stock. Schechter Investment Advisors LLC lifted its position in shares of Splunk by 4.7% during the fourth quarter. Schechter Investment Advisors LLC now owns 1,570 shares of the software company’s stock worth $239,000 after purchasing an additional 71 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Splunk by 1.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 5,018 shares of the software company’s stock worth $764,000 after purchasing an additional 91 shares during the last quarter. V Square Quantitative Management LLC lifted its position in shares of Splunk by 9.6% during the third quarter. V Square Quantitative Management LLC now owns 1,107 shares of the software company’s stock worth $162,000 after purchasing an additional 97 shares during the last quarter. Blue Trust Inc. lifted its holdings in Splunk by 12.0% in the fourth quarter. Blue Trust Inc. now owns 1,008 shares of the software company’s stock worth $148,000 after acquiring an additional 108 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its holdings in Splunk by 4.9% in the fourth quarter. Yousif Capital Management LLC now owns 2,313 shares of the software company’s stock worth $352,000 after acquiring an additional 108 shares during the last quarter. Institutional investors own 87.56% of the company’s stock.

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.