Wall Street Analyst Upgrade Splunk Inc. [SPLK]. What else is Wall St. saying


Splunk Inc. [NASDAQ: SPLK] stock went on an upward path that rose over 6.59% on Thursday, amounting to a one-week price decrease of less than -16.32%. The company report on May 5, 2022 that Splunk Names Katie Bianchi Chief Customer Officer.

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Data Platform Leader Reinforces Commitment to Worldwide Customer Success.

Splunk Inc. (NASDAQ: SPLK), the data platform leader for security and observability, today announced the appointment of Katie Bianchi to Senior Vice President and Chief Customer Officer. Reporting to Gary Steele, Splunk President and CEO, and effective immediately, Bianchi leads the organization’s mission to help customers achieve exceptional outcomes and ongoing value with Splunk.

Over the last 12 months, SPLK stock dropped by -16.28%. The one-year Splunk Inc. stock forecast points to a potential upside of 41.12. The average equity rating for SPLK stock is currently 2.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $16.35 billion, with 159.09 million shares outstanding and 157.91 million shares in the current float. Compared to the average trading volume of 2.35M shares, SPLK stock reached a trading volume of 4381390 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $159.24 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.

Daiwa Securities have made an estimate for Splunk Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 04, 2022. The new note on the price target was released on February 22, 2022, representing the official price target for Splunk Inc. stock. Previously, the target price had yet another raise from $117 to $120, while Citigroup kept a Neutral rating on SPLK stock.

The Average True Range (ATR) for Splunk Inc. is set at 7.41, with the Price to Sales ratio for SPLK stock in the period of the last 12 months amounting to 6.12. The Price to Book ratio for the last quarter was 66.97, with the Price to Cash per share for the same quarter was set at 9.83. Price to Free Cash Flow for SPLK in the course of the last twelve months was 139.43 with Quick ratio for the last quarter at 1.60.

SPLK Stock Performance Analysis:

Splunk Inc. [SPLK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.32. With this latest performance, SPLK shares dropped by -28.16% in over the last four-week period, additionally sinking by -42.97% over the last 6 months – not to mention a drop of -16.28% 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 32.11, with the RSI for the last a single of trading hit 30.28, and the three-weeks RSI is set at 34.89 for Splunk Inc. [SPLK]. The present Moving Average for the last 50 days of trading for this stock 127.15, while it was recorded at 94.00 for the last single week of trading, and 134.12 for the last 200 days.

Insight into Splunk Inc. Fundamentals:

Splunk Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 1.60.

Splunk Inc. [SPLK] Insider Position Details

There are presently around $12,526 million, or 93.20% of SPLK stock, in the hands of institutional investors. The top three institutional holders of SPLK stocks are: VANGUARD GROUP INC with ownership of 14,710,340, which is approximately -0.995% of the company’s market cap and around 0.50% of the total institutional ownership; BLACKROCK INC., holding 10,004,438 shares of the stock with an approximate value of $879.99 million in SPLK stocks shares; and VULCAN VALUE PARTNERS, LLC, currently with $814.09 million in SPLK stock with ownership of nearly New of the company’s market capitalization.

Positions in Splunk Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 325 institutional holders increased their position in Splunk Inc. [NASDAQ:SPLK] by around 24,326,378 shares. Additionally, 355 investors decreased positions by around 22,542,486 shares, while 102 investors held positions by with 95,540,324 shares. The mentioned changes placed institutional holdings at 142,409,188 shares, according to the latest SEC report filing. SPLK stock had 93 new institutional investments in for a total of 12,495,973 shares, while 105 institutional investors sold positions of 2,411,906 shares during the same period.