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

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

Separately, TheStreet raised Splunk from a c rating to a b rating in a research note on Tuesday, February 27th. Twenty-three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $135.31.

Splunk Stock Performance

Shares of SPLK opened at $156.90 on Friday. The stock has a market capitalization of $26.44 billion, a P/E ratio of 124.52, a PEG ratio of 4.42 and a beta of 1.00. Splunk has a twelve month low of $82.19 and a twelve month high of $156.97. 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 firm has a fifty day simple moving average of $156.64 and a two-hundred day simple moving average of $153.20.

Splunk (NASDAQ:SPLK) last posted its earnings results on Tuesday, February 27th. The software company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $1.42. The company 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%. On average, research analysts anticipate that Splunk will post 1.62 EPS for the current year.

Institutional Trading of Splunk

A number of hedge funds have recently bought and sold shares of SPLK. Raleigh Capital Management Inc. raised its position in Splunk by 546.2% in the third quarter. Raleigh Capital Management Inc. now owns 168 shares of the software company’s stock worth $25,000 after acquiring an additional 142 shares during the period. Riverview Trust Co bought a new position in Splunk in the 1st quarter worth $26,000. Orion Capital Management LLC purchased a new position in Splunk during the third quarter valued at $33,000. Quest Partners LLC bought a new stake in Splunk during the fourth quarter valued at about $36,000. Finally, Venturi Wealth Management LLC purchased a new stake in Splunk in the third quarter worth about $42,000. Hedge funds and other 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.