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

Splunk Inc. (NASDAQ:SPLK) has earned an average recommendation of “Hold” from the twenty-eight brokerages that are covering the company, MarketBeat.com reports. Twenty-three research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $135.31.

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

Splunk Stock Performance

Splunk stock opened at $156.90 on Friday. The firm’s 50 day moving average price is $156.42 and its 200-day moving average price is $152.78. Splunk has a 1 year low of $82.19 and a 1 year high of $156.97. The stock has a market cap of $26.44 billion, a P/E ratio of 124.52, a PEG 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 data on Tuesday, February 27th. The software company reported $2.47 earnings per share 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%. On average, equities analysts predict that Splunk will post 1.62 earnings per share for the current fiscal year.

Institutional Trading of Splunk

Institutional investors and hedge funds have recently bought and sold shares of the business. Carmignac Gestion purchased a new stake in Splunk during the third quarter worth about $6,248,000. Nordea Investment Management AB boosted its holdings in Splunk by 682.1% in the fourth quarter. Nordea Investment Management AB now owns 84,838 shares of the software company’s stock valued at $12,909,000 after purchasing an additional 73,990 shares in the last quarter. DNB Asset Management AS boosted its holdings in Splunk by 25.8% in the fourth 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 in the last quarter. Capula Management Ltd acquired a new position in Splunk in the third quarter valued at approximately $2,486,000. Finally, QRG Capital Management Inc. acquired a new position in Splunk in the third quarter valued at approximately $320,000. 87.56% of the stock is currently owned by hedge funds and other 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.