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

Research analysts at StockNews.com started coverage on shares of Splunk (NASDAQ:SPLK) in a research report issued on Sunday. The brokerage set a “buy” rating on the software company’s stock.

Separately, TheStreet raised shares of Splunk from a “c” rating to a “b” rating in a research report on Tuesday, February 27th. Twenty-three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $135.31.

Splunk Stock Performance

Shares of SPLK opened at $156.90 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 15.61. The stock has a market capitalization of $26.44 billion, a P/E ratio of 124.52, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00. The firm’s fifty day simple moving average is $156.75 and its two-hundred day simple moving average is $153.45. Splunk has a 12 month low of $82.19 and a 12 month high of $156.97.

Splunk (NASDAQ:SPLK) last issued 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 net margin of 6.26% and a return on equity of 32,117.42%. As a group, analysts predict that Splunk will post 1.62 EPS for the current year.

Hedge Funds Weigh In On Splunk

Several hedge funds and other institutional investors have recently modified their holdings of the company. Schechter Investment Advisors LLC raised its stake in shares of Splunk by 4.7% during the fourth quarter. Schechter Investment Advisors LLC now owns 1,570 shares of the software company’s stock valued at $239,000 after acquiring an additional 71 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in Splunk by 1.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 5,018 shares of the software company’s stock worth $764,000 after buying an additional 91 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in Splunk by 9.6% in the third quarter. V Square Quantitative Management LLC now owns 1,107 shares of the software company’s stock worth $162,000 after purchasing an additional 97 shares during the period. Blue Trust Inc. grew its holdings in Splunk by 12.0% in the fourth quarter. Blue Trust Inc. now owns 1,008 shares of the software company’s stock worth $148,000 after purchasing an additional 108 shares during the period. Finally, Yousif Capital Management LLC grew its holdings in Splunk by 4.9% in the fourth quarter. Yousif Capital Management LLC now owns 2,313 shares of the software company’s stock worth $352,000 after purchasing an additional 108 shares during the period. 87.56% of the stock is owned by institutional investors.

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.