Splunk Inc. [NASDAQ: SPLK] loss -1.97% or -2.79 points to close at $138.53 with a heavy trading volume of 2070618 shares. The company report on June 30, 2021 that Splunk Ranks First in Both IT and Security Market Share Reports by Gartner.
Splunk Leads ITOM Performance Analysis and SIEM Market Share Rankings for the Second and Third Consecutive Year in 2020 Reports.
Splunk Inc. (NASDAQ: SPLK), provider of the Data-to-Everything Platform, announced it is ranked No. 1 in market share for IT Operations Management (ITOM) in the Gartner Market Share Analysis: ITOM, Performance Analysis Software, Worldwide, 2020 report* and Security Information and Event Management (SIEM) in the Gartner Market Share: All Software Marketing Worldwide, 2020 report**. In the two reports, Splunk has once again maintained its leading position in both IT and security markets.
It opened the trading session at $139.01, the shares rose to $140.01 and dropped to $136.51, the range by which the price of stock traded the whole day. The daily chart for SPLK points out that the company has recorded -14.28% loss over the past six months. However, it is still -25.62% lower than its most recent low trading price.
If we look at the average trading volume of 2.50M shares, SPLK reached to a volume of 2070618 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Splunk Inc. [SPLK]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SPLK shares is $167.11 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SPLK stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Summit Insights have made an estimate for Splunk Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 07, 2021. While these analysts kept the previous recommendation, UBS dropped their target price from $140 to $125. The new note on the price target was released on May 21, 2021, representing the official price target for Splunk Inc. stock. Previously, the target price had yet another drop from $213 to $160, while Morgan Stanley kept a Equal-Weight rating on SPLK stock.
The Average True Range (ATR) for Splunk Inc. is set at 4.13, with the Price to Sales ratio for SPLK stock in the period of the last 12 months amounting to 9.80. The Price to Book ratio for the last quarter was 18.13, with the Price to Cash per share for the same quarter was set at 11.48.
Trading performance analysis for SPLK stock
Splunk Inc. [SPLK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.18. With this latest performance, SPLK shares gained by 18.29% in over the last four-week period, additionally sinking by -14.28% over the last 6 months – not to mention a drop of -32.48% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SPLK stock in for the last two-week period is set at 58.12, with the RSI for the last a single of trading hit 54.95, and the three-weeks RSI is set at 57.26 for Splunk Inc. [SPLK]. The present Moving Average for the last 50 days of trading for this stock 124.73, while it was recorded at 141.21 for the last single week of trading, and 158.84 for the last 200 days.
Splunk Inc. [SPLK]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Splunk Inc. [SPLK] shares currently have an operating margin of -34.50 and a Gross Margin at +74.66. Splunk Inc.’s Net Margin is presently recorded at -40.73.
Return on Total Capital for SPLK is now -18.66, given the latest momentum, and Return on Invested Capital for the company is -22.21. Return on Equity for this stock declined to -50.54, with Return on Assets sitting at -16.06. When it comes to the capital structure of this company, Splunk Inc. [SPLK] has a Total Debt to Total Equity ratio set at 169.38. Additionally, SPLK Total Debt to Total Capital is recorded at 62.88, with Total Debt to Total Assets ending up at 46.01. Long-Term Debt to Equity for the company is recorded at 165.22, with the Long-Term Debt to Total Capital now at 61.33.
Reflecting on the efficiency of the workforce at the company, Splunk Inc. [SPLK] managed to generate an average of -$139,689 per employee. Receivables Turnover for the company is 2.28 with a Total Asset Turnover recorded at a value of 0.39.Splunk Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 2.20.
An analysis of insider ownership at Splunk Inc. [SPLK]
There are presently around $19,789 million, or 89.80% of SPLK stock, in the hands of institutional investors. The top three institutional holders of SPLK stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 23,939,618, which is approximately -5.999% of the company’s market cap and around 0.60% of the total institutional ownership; VANGUARD GROUP INC, holding 14,513,404 shares of the stock with an approximate value of $2.01 billion in SPLK stocks shares; and BLACKROCK INC., currently with $1.47 billion in SPLK stock with ownership of nearly -1.437% of the company’s market capitalization.
Positions in Splunk Inc. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 359 institutional holders increased their position in Splunk Inc. [NASDAQ:SPLK] by around 19,760,396 shares. Additionally, 346 investors decreased positions by around 26,836,819 shares, while 83 investors held positions by with 96,249,699 shares. The mentioned changes placed institutional holdings at 142,846,914 shares, according to the latest SEC report filing. SPLK stock had 81 new institutional investments in for a total of 6,535,926 shares, while 118 institutional investors sold positions of 5,513,374 shares during the same period.