Splunk Inc. [SPLK] stock Initiated by Guggenheim analyst, price target now $160

Splunk Inc. [NASDAQ: SPLK] stock went on a downward path that fall over -1.00% on Tuesday, amounting to a one-week price decrease of less than -14.40%. The company report on August 24, 2022 that Splunk Announces Fiscal Second Quarter 2023 Financial Results.

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Total Revenues Grow 32%; Cloud Revenue up 59%.

Over the last 12 months, SPLK stock dropped by -39.93%. The one-year Splunk Inc. stock forecast points to a potential upside of 29.06. 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 $15.33 billion, with 161.79 million shares outstanding and 159.80 million shares in the current float. Compared to the average trading volume of 1.85M shares, SPLK stock reached a trading volume of 3784674 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 $130.61 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.

Guggenheim have made an estimate for Splunk Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 12, 2022. While these analysts kept the previous recommendation, Citigroup dropped their target price from $120 to $118. The new note on the price target was released on July 22, 2022, representing the official price target for Splunk Inc. stock. Previously, the target price had yet another raise to $130, while Canaccord Genuity analysts kept a Buy rating on SPLK stock. On March 04, 2022, analysts increased their price target for SPLK shares from 134 to 140.

The Average True Range (ATR) for Splunk Inc. is set at 4.74, with the Price to Sales ratio for SPLK stock in the period of the last 12 months amounting to 5.39. Price to Free Cash Flow for SPLK in the course of the last twelve months was 68.15 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 -14.40. With this latest performance, SPLK shares dropped by -11.34% in over the last four-week period, additionally sinking by -20.50% over the last 6 months – not to mention a drop of -39.93% 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 34.01, with the RSI for the last a single of trading hit 26.16, and the three-weeks RSI is set at 39.22 for Splunk Inc. [SPLK]. The present Moving Average for the last 50 days of trading for this stock 101.91, while it was recorded at 97.63 for the last single week of trading, and 114.32 for the last 200 days.

Insight into Splunk Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Splunk Inc. [SPLK] shares currently have an operating margin of -41.97 and a Gross Margin at +72.55. Splunk Inc.’s Net Margin is presently recorded at -50.08.

Return on Equity for this stock declined to -147.41, with Return on Assets sitting at -22.97.

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 $12,729 million, or 89.00% of SPLK stock, in the hands of institutional investors. The top three institutional holders of SPLK stocks are: VANGUARD GROUP INC with ownership of 15,303,043, which is approximately 5.076% of the company’s market cap and around 0.50% of the total institutional ownership; H&F CORPORATE INVESTORS X, LTD., holding 12,799,822 shares of the stock with an approximate value of $1.19 billion in SPLK stocks shares; and BLACKROCK INC., currently with $921.42 million in SPLK stock with ownership of nearly -0.593% of the company’s market capitalization.

Positions in Splunk Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 278 institutional holders increased their position in Splunk Inc. [NASDAQ:SPLK] by around 14,489,071 shares. Additionally, 386 investors decreased positions by around 15,951,185 shares, while 103 investors held positions by with 106,947,581 shares. The mentioned changes placed institutional holdings at 137,387,837 shares, according to the latest SEC report filing. SPLK stock had 71 new institutional investments in for a total of 3,591,185 shares, while 122 institutional investors sold positions of 2,215,954 shares during the same period.


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