Splunk (NASDAQ:SPLK) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Splunk (NASDAQ:SPLK) in a report issued on Sunday. The brokerage issued 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 report on Tuesday, February 27th. Twenty-three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $135.31.

Splunk Stock Performance

SPLK stock remained flat at $156.90 during mid-day trading on Friday. 5,546 shares of the company’s stock traded hands, compared to its average volume of 2,084,977. 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 has a 52-week low of $82.19 and a 52-week high of $156.97. The stock has a market capitalization of $26.44 billion, a price-to-earnings ratio of 124.52, a P/E/G ratio of 4.42 and a beta of 1.00. The stock’s 50 day moving average is $156.72 and its two-hundred day moving average is $153.38.

Splunk (NASDAQ:SPLK) last released its earnings results on Tuesday, February 27th. The software company reported $2.47 EPS for the quarter, beating the consensus estimate of $1.05 by $1.42. Splunk had a net margin of 6.26% and a return on equity of 32,117.42%. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.26 billion. As a group, equities analysts expect that Splunk will post 1.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Splunk

Several institutional investors have recently made changes to their positions in the stock. Carmignac Gestion acquired a new position in Splunk during the 3rd quarter worth approximately $6,248,000. Nordea Investment Management AB lifted its holdings in shares of Splunk by 682.1% in the 4th quarter. Nordea Investment Management AB now owns 84,838 shares of the software company’s stock worth $12,909,000 after purchasing an additional 73,990 shares in the last quarter. DNB Asset Management AS grew its position in Splunk by 25.8% in the 4th quarter. DNB Asset Management AS now owns 48,043 shares of the software company’s stock valued at $7,319,000 after purchasing an additional 9,847 shares during the period. Capula Management Ltd bought a new stake in Splunk during the 3rd quarter valued at $2,486,000. Finally, QRG Capital Management Inc. acquired a new position in Splunk during the third quarter worth $320,000. Institutional investors and hedge funds own 87.56% of the company’s stock.

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.