Splunk Inc. (NASDAQ:SPLK) Receives $135.31 Consensus PT from Analysts

Splunk Inc. (NASDAQ:SPLK) has been given an average recommendation of “Hold” by the twenty-eight analysts that are covering the company, Marketbeat reports. Twenty-three equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $135.31.

Several research analysts have recently issued reports on SPLK shares. TheStreet raised Splunk from a “c” rating to a “b” rating in a research report on Tuesday, February 27th. StockNews.com started coverage on Splunk in a research report on Tuesday. They set a “buy” rating for the company.

Splunk Stock Performance

Shares of NASDAQ:SPLK opened at $156.90 on Tuesday. The business’s 50-day moving average is $155.20 and its 200 day moving average is $149.98. Splunk has a 1 year low of $82.19 and a 1 year high of $156.97. The firm has a market capitalization of $26.44 billion, a P/E ratio of 124.52, a P/E/G 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 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 return on equity of 32,117.42% and a net margin of 6.26%. On average, research analysts predict that Splunk will post 1.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Scott Morgan sold 5,017 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $152.28, for a total value of $763,988.76. Following the sale, the senior vice president now owns 89,265 shares in the company, valued at approximately $13,593,274.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.17% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Splunk

A number of institutional investors and hedge funds have recently modified their holdings of SPLK. Raleigh Capital Management Inc. grew its holdings in shares of Splunk by 546.2% in the 3rd 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. Orion Capital Management LLC acquired a new stake in Splunk during the 3rd quarter valued at $33,000. Quest Partners LLC acquired a new stake in Splunk during the 4th quarter valued at $36,000. Quarry LP acquired a new stake in Splunk during the 2nd quarter valued at $41,000. Finally, Venturi Wealth Management LLC acquired a new stake in Splunk during the 3rd quarter valued at $42,000. Institutional investors and hedge funds 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.