StockNews.com Begins Coverage on Splunk (NASDAQ:SPLK)

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

Separately, TheStreet upgraded shares of Splunk from a c rating to a b rating in a research note on Tuesday, February 27th. Twenty-three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Splunk currently has an average rating of Hold and an average target price of $135.31.

Splunk Price Performance

SPLK stock opened at $156.90 on Friday. 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 company has a market cap of $26.44 billion, a PE ratio of 124.52, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00. The business’s 50-day simple moving average is $156.61 and its 200 day simple moving average is $153.13.

Splunk (NASDAQ:SPLK) last issued its earnings results on Tuesday, February 27th. The software company reported $2.47 EPS for the quarter, topping the consensus estimate of $1.05 by $1.42. The firm had revenue of $1.49 billion during 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%. On average, research analysts anticipate that Splunk will post 1.62 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SPLK. Riverview Trust Co acquired a new position in shares of Splunk during the first quarter worth about $26,000. Kapitalo Investimentos Ltda acquired a new position in Splunk during the 4th quarter worth approximately $242,000. Yeomans Consulting Group Inc. bought a new position in shares of Splunk during the 4th quarter worth approximately $421,000. Vanguard Group Inc. raised its holdings in shares of Splunk by 1.9% in the fourth 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 during the last quarter. Finally, American International Group Inc. lifted its position in shares of Splunk by 440.2% in the fourth quarter. American International Group Inc. now owns 14,341 shares of the software company’s stock worth $2,185,000 after purchasing an additional 11,686 shares in 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.