Splunk (NASDAQ:SPLK) Research Coverage Started at StockNews.com

Analysts at StockNews.com began coverage on shares of Splunk (NASDAQ:SPLK) in a research note issued to investors on Saturday. The brokerage set a “buy” rating on the software company’s stock.

Separately, TheStreet raised Splunk from a “c” rating to a “b” rating in a research report 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’s stock. Based on data from MarketBeat, Splunk has a consensus rating of “Hold” and an average price target of $135.31.

Splunk Stock Performance

Shares of Splunk stock opened at $156.90 on Friday. The firm’s fifty day simple moving average is $156.58 and its 200-day simple moving average is $152.98. Splunk has a 12 month low of $82.19 and a 12 month high of $156.97. The stock has a market capitalization of $26.44 billion, a price-to-earnings ratio of 124.52, a PEG ratio of 4.42 and a beta of 1.00. The company has a debt-to-equity ratio of 15.61, a current ratio of 1.69 and a quick ratio of 1.69.

Splunk (NASDAQ:SPLK) last posted its quarterly earnings data on Tuesday, February 27th. The software company reported $2.47 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 analyst estimates of $1.26 billion. As a group, equities analysts forecast that Splunk will post 1.62 earnings per share for the current year.

Institutional Investors Weigh In On Splunk

A number of hedge funds and other institutional investors have recently modified their holdings of SPLK. Vanguard Group Inc. increased its stake in Splunk by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 16,363,126 shares of the software company’s stock valued at $2,492,922,000 after purchasing an additional 307,552 shares in the last quarter. FIL Ltd grew its holdings in Splunk by 86.1% in the fourth 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. Norges Bank purchased a new position in shares of Splunk in the fourth quarter valued at $378,850,000. Ameriprise Financial Inc. raised its stake in shares of Splunk by 8.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,729,887 shares of the software company’s stock worth $252,996,000 after buying an additional 131,909 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its position in shares of 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 worth $263,160,000 after buying an additional 1,050,975 shares in the last quarter. 87.56% of the stock is currently owned by institutional investors and hedge funds.

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.