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

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

Several brokerages have commented on SPLK. TheStreet raised shares of Splunk from a “c” rating to a “b” rating in a research report on Tuesday, February 27th. StockNews.com assumed coverage on shares of Splunk in a report on Saturday. They issued a “buy” rating on the stock.

Hedge Funds Weigh In On Splunk

A number of institutional investors have recently added to or reduced their stakes in the business. Raleigh Capital Management Inc. grew its holdings in shares of Splunk by 546.2% during the third quarter. Raleigh Capital Management Inc. now owns 168 shares of the software company’s stock worth $25,000 after purchasing an additional 142 shares in the last quarter. Riverview Trust Co purchased a new position in Splunk in the 1st quarter worth approximately $26,000. Orion Capital Management LLC purchased a new position in Splunk in the 3rd quarter worth approximately $33,000. Quest Partners LLC bought a new position in shares of Splunk in the 4th quarter worth $36,000. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Splunk during the 3rd quarter valued at $42,000. 87.56% of the stock is currently owned by institutional investors.

Splunk Price Performance

SPLK stock opened at $156.90 on Friday. The stock has a market cap 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 current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 15.61. The stock’s fifty day simple moving average is $156.58 and its two-hundred day simple moving average is $152.98. Splunk has a 1-year low of $82.19 and a 1-year high of $156.97.

Splunk (NASDAQ:SPLK) last released its earnings results on Tuesday, February 27th. The software company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $1.42. The company had revenue of $1.49 billion for 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%. Analysts expect that Splunk will post 1.62 EPS for the current year.

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.