Analysts expect Splunk Inc. (NASDAQ:SPLK) to report $268.70 million in sales for the current quarter, Zacks Investment Research reports. Eleven analysts have made estimates for Splunk’s earnings, with the lowest sales estimate coming in at $267.41 million and the highest estimate coming in at $272.70 million. Splunk reported sales of $212.75 million during the same quarter last year, which indicates a positive year over year growth rate of 26.3%. The firm is expected to issue its next earnings results after the market closes on Thursday, August 24th.
According to Zacks, analysts expect that Splunk will report full year sales of $268.70 million for the current fiscal year, with estimates ranging from $1.19 billion to $1.21 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.52 billion per share, with estimates ranging from $1.46 billion to $1.60 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Splunk.
Splunk (NASDAQ:SPLK) last announced its quarterly earnings results on Thursday, May 25th. The software company reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.03. Splunk had a negative return on equity of 40.82% and a negative net margin of 35.19%. The company had revenue of $242.40 million during the quarter, compared to the consensus estimate of $233.79 million. During the same period in the previous year, the company posted ($0.02) earnings per share. Splunk’s revenue for the quarter was up 30.4% on a year-over-year basis.
SPLK has been the subject of a number of recent research reports. Susquehanna Bancshares Inc initiated coverage on Splunk in a research report on Wednesday, June 7th. They set a “neutral” rating and a $68.00 price objective for the company. Zacks Investment Research cut Splunk from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Wedbush cut Splunk from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $72.00 to $63.00 in a research report on Thursday, June 15th. Maxim Group reaffirmed a “buy” rating on shares of Splunk in a research report on Sunday, May 28th. Finally, MKM Partners reaffirmed a “neutral” rating and set a $63.00 price objective (up from $60.00) on shares of Splunk in a research report on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $70.77.
Splunk (NASDAQ:SPLK) opened at 58.89 on Wednesday. Splunk has a one year low of $50.64 and a one year high of $69.23. The firm has a 50-day moving average price of $58.98 and a 200-day moving average price of $61.15. The firm’s market capitalization is $8.15 billion.
In other Splunk news, insider Douglas Merritt sold 10,125 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $58.01, for a total value of $587,351.25. Following the completion of the sale, the insider now directly owns 231,440 shares in the company, valued at $13,425,834.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David F. Conte sold 1,044 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $62.20, for a total value of $64,936.80. Following the completion of the sale, the chief financial officer now owns 207,965 shares of the company’s stock, valued at $12,935,423. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 358,056 shares of company stock valued at $20,784,524. Insiders own 3.00% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in SPLK. TLP Group LLC bought a new stake in shares of Splunk during the first quarter worth approximately $102,000. Patten Group Inc. increased its stake in shares of Splunk by 3.6% in the first quarter. Patten Group Inc. now owns 2,154 shares of the software company’s stock worth $131,000 after buying an additional 75 shares during the period. Acrospire Investment Management LLC increased its stake in shares of Splunk by 79.9% in the first quarter. Acrospire Investment Management LLC now owns 2,701 shares of the software company’s stock worth $168,000 after buying an additional 1,200 shares during the period. ProShare Advisors LLC bought a new stake in shares of Splunk during the first quarter worth approximately $200,000. Finally, IFP Advisors Inc increased its stake in shares of Splunk by 6.2% in the second quarter. IFP Advisors Inc now owns 3,508 shares of the software company’s stock worth $200,000 after buying an additional 204 shares during the period.
Splunk Company Profile
Splunk Inc (Splunk) is engaged in the development and marketing of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. Its offerings address diverse data sets that are referred to as big data and are specifically used for machine data.
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