$628.08 Million in Sales Expected for Splunk Inc. (NASDAQ:SPLK) This Quarter

Wall Street analysts predict that Splunk Inc. (NASDAQ:SPLKGet Rating) will announce sales of $628.08 million for the current fiscal quarter, according to Zacks Investment Research. Twelve analysts have made estimates for Splunk’s earnings. The lowest sales estimate is $618.50 million and the highest is $645.80 million. Splunk reported sales of $502.05 million during the same quarter last year, which would suggest a positive year over year growth rate of 25.1%. The business is expected to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Splunk will report full-year sales of $3.27 billion for the current fiscal year, with estimates ranging from $3.20 billion to $3.30 billion. For the next fiscal year, analysts forecast that the company will post sales of $4.03 billion, with estimates ranging from $3.89 billion to $4.34 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Splunk.

Splunk (NASDAQ:SPLKGet Rating) last announced its quarterly earnings results on Wednesday, March 2nd. The software company reported ($0.36) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.21) by $0.85. The company had revenue of $901.12 million during the quarter, compared to the consensus estimate of $774.08 million. Splunk had a negative net margin of 50.08% and a negative return on equity of 128.38%. During the same quarter last year, the firm earned ($0.61) earnings per share.

Several brokerages have recently weighed in on SPLK. JMP Securities cut shares of Splunk from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 22nd. Citigroup increased their price objective on shares of Splunk from $120.00 to $145.00 and gave the stock a “neutral” rating in a research note on Thursday, March 10th. Rosenblatt Securities reaffirmed a “buy” rating and set a $185.00 price objective on shares of Splunk in a report on Thursday, March 3rd. Oppenheimer reduced their target price on shares of Splunk from $203.00 to $175.00 and set an “outperform” rating on the stock in a research note on Thursday, March 3rd. Finally, Piper Sandler lifted their price target on shares of Splunk from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, January 6th. Twelve equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $161.21.

In other news, CAO Timothy Emanuelson sold 257 shares of the firm’s stock in a transaction that occurred on Thursday, April 14th. The stock was sold at an average price of $141.00, for a total value of $36,237.00. Following the transaction, the chief accounting officer now owns 22,239 shares in the company, valued at $3,135,699. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Scott Morgan sold 1,588 shares of the stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $112.25, for a total value of $178,253.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,269 shares of company stock valued at $392,490. Insiders own 0.27% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Strs Ohio boosted its stake in Splunk by 56.2% during the third quarter. Strs Ohio now owns 2,790 shares of the software company’s stock valued at $403,000 after buying an additional 1,004 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Splunk by 11.0% in the third quarter. Fisher Asset Management LLC now owns 27,482 shares of the software company’s stock worth $3,977,000 after buying an additional 2,727 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in Splunk by 1.8% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 97,584 shares of the software company’s stock valued at $14,121,000 after purchasing an additional 1,738 shares during the period. Illinois Municipal Retirement Fund increased its holdings in Splunk by 513.9% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 31,409 shares of the software company’s stock valued at $4,545,000 after purchasing an additional 26,293 shares during the period. Finally, Signaturefd LLC grew its holdings in shares of Splunk by 13.0% during the 3rd quarter. Signaturefd LLC now owns 1,114 shares of the software company’s stock worth $161,000 after acquiring an additional 128 shares during the period. Institutional investors own 85.09% of the company’s stock.

Shares of Splunk stock traded up $2.37 during trading hours on Friday, reaching $136.18. The company’s stock had a trading volume of 10,586 shares, compared to its average volume of 2,492,313. The firm has a 50 day moving average price of $128.57 and a 200-day moving average price of $131.33. Splunk has a one year low of $105.45 and a one year high of $176.66. The company has a debt-to-equity ratio of 14.09, a current ratio of 1.56 and a quick ratio of 1.56. The stock has a market cap of $21.88 billion, a P/E ratio of -16.22 and a beta of 1.27.

Splunk Company Profile (Get Rating)

Splunk Inc, together with its subsidiaries, provides software and cloud solutions that deliver and operationalize insights from the data generated by digital systems in the United States and internationally. The company offers Splunk Platform, a real-time data platform comprising collection, streaming, indexing, search, reporting, analysis, machine learning, alerting, monitoring, and data management capabilities.

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