Splunk Inc. [SPLK] fell -12.99% so far this year. What now?


Splunk Inc. [NASDAQ: SPLK] price surged by 6.57 percent to reach at $6.21. The company report on June 17, 2022 that Splunk Announces Inducement Grants Under Listing Rule 5635(c)(4) of The Nasdaq Stock Market.

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Splunk Inc. (NASDAQ: SPLK), the data platform leader for security and observability, today announced that on June 14, 2022 the Talent & Compensation Committee of its Board of Directors granted restricted stock unit awards covering an aggregate of 189,752 shares of Splunk’s common stock to 183 new employees under Splunk’s 2022 Inducement Plan. Each award was granted as an inducement material to the individual becoming a new employee of Splunk in accordance with The Nasdaq Stock Market Listing Rule 5635(c)(4).

Each restricted stock unit award will vest over approximately three years, with one-third of the award vesting on June 10, 2023, and 1/12th of the award vesting quarterly thereafter over the remaining two years, subject to continued employment with Splunk through the relevant vesting date. Each restricted stock unit award is subject to the terms and conditions of Splunk’s 2022 Inducement Plan and the terms and conditions of a restricted stock unit award agreement covering the award.

A sum of 2525840 shares traded at recent session while its average daily volume was at 2.06M shares. Splunk Inc. shares reached a high of $100.90 and dropped to a low of $94.62 until finishing in the latest session at $100.69.

The one-year SPLK stock forecast points to a potential upside of 25.11. The average equity rating for SPLK stock is currently 2.20, trading closer to a bullish pattern in the stock market.

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 $134.45 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.

Canaccord Genuity have made an estimate for Splunk Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 07, 2022. While these analysts kept the previous recommendation, Daiwa Securities raised their target price from $134 to $140. The new note on the price target was released on March 04, 2022, representing the official price target for Splunk Inc. stock. On January 25, 2022, analysts increased their price target for SPLK shares from 117 to 120.

The Average True Range (ATR) for Splunk Inc. is set at 5.01, with the Price to Sales ratio for SPLK stock in the period of the last 12 months amounting to 5.48. Price to Free Cash Flow for SPLK in the course of the last twelve months was 83.03 with Quick ratio for the last quarter at 1.50.

SPLK Stock Performance Analysis:

Splunk Inc. [SPLK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.07. With this latest performance, SPLK shares dropped by -4.93% in over the last four-week period, additionally sinking by -13.05% over the last 6 months – not to mention a drop of -28.75% 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 54.44, with the RSI for the last a single of trading hit 61.05, and the three-weeks RSI is set at 50.90 for Splunk Inc. [SPLK]. The present Moving Average for the last 50 days of trading for this stock 100.70, while it was recorded at 94.00 for the last single week of trading, and 124.52 for the last 200 days.

Insight into Splunk Inc. Fundamentals:

Splunk Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.50.

Splunk Inc. [SPLK] Insider Position Details

There are presently around $13,928 million, or 88.30% of SPLK stock, in the hands of institutional investors. The top three institutional holders of SPLK stocks are: VANGUARD GROUP INC with ownership of 14,563,838, which is approximately -0.996% of the company’s market cap and around 0.40% of the total institutional ownership; H&F CORPORATE INVESTORS X, LTD., holding 11,909,197 shares of the stock with an approximate value of $1.2 billion in SPLK stocks shares; and BLACKROCK INC., currently with $1.01 billion in SPLK stock with ownership of nearly 2.118% 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 338 institutional holders increased their position in Splunk Inc. [NASDAQ:SPLK] by around 25,500,202 shares. Additionally, 342 investors decreased positions by around 29,115,472 shares, while 100 investors held positions by with 83,705,934 shares. The mentioned changes placed institutional holdings at 138,321,608 shares, according to the latest SEC report filing. SPLK stock had 107 new institutional investments in for a total of 16,311,873 shares, while 86 institutional investors sold positions of 2,643,696 shares during the same period.