Splunk Inc. (NASDAQ:SPLK) Receives $135.31 Consensus Target Price from Brokerages

Splunk Inc. (NASDAQ:SPLK) has earned a consensus rating of “Hold” from the twenty-eight ratings firms that are covering the stock, Marketbeat reports. Twenty-three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $135.31.

A number of brokerages have recently weighed in on SPLK. TheStreet upgraded Splunk from a “c” rating to a “b” rating in a research report on Tuesday, February 27th. StockNews.com began coverage on Splunk in a research report on Friday, April 19th. They set a “buy” rating for the company.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Raleigh Capital Management Inc. boosted its position in shares of Splunk by 546.2% during the third quarter. Raleigh Capital Management Inc. now owns 168 shares of the software company’s stock valued at $25,000 after buying an additional 142 shares during the period. Riverview Trust Co bought a new stake in shares of Splunk during the first quarter valued at approximately $26,000. Orion Capital Management LLC bought a new stake in shares of Splunk during the third quarter valued at approximately $33,000. Quest Partners LLC bought a new stake in shares of Splunk during the fourth quarter valued at approximately $36,000. Finally, Venturi Wealth Management LLC bought a new stake in shares of Splunk during the third quarter valued at approximately $42,000. Hedge funds and other institutional investors own 87.56% of the company’s stock.

Splunk Price Performance

NASDAQ:SPLK opened at $156.90 on Friday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 15.61. The business’s 50-day simple moving average is $156.52 and its two-hundred day simple moving average is $152.89. 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 has a 52 week low of $82.19 and a 52 week high of $156.97.

Splunk (NASDAQ:SPLK) last posted its quarterly earnings results on Tuesday, February 27th. The software company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $1.42. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Splunk had a return on equity of 32,117.42% and a net margin of 6.26%. As a group, analysts forecast that Splunk will post 1.62 EPS for the current fiscal year.

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.