Zacks: Brokerages Anticipate Splunk Inc (SPLK) to Announce -$0.63 EPS
Wall Street brokerages forecast that Splunk Inc (NASDAQ:SPLK) will announce earnings per share of ($0.63) for the current quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Splunk’s earnings. The highest EPS estimate is ($0.49) and the lowest is ($0.76). Splunk also reported earnings per share of ($0.63) during the same quarter last year. The company is scheduled to report its next earnings report on Thursday, August 24th.
On average, analysts expect that Splunk will report full-year earnings of ($2.37) per share for the current year, with EPS estimates ranging from ($2.72) to ($1.94). For the next financial year, analysts expect that the firm will report earnings of ($2.59) per share, with EPS estimates ranging from ($3.16) to ($1.67). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Splunk.
Splunk (NASDAQ:SPLK) last issued 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 net margin of 41.72% and a negative return on equity of 41.28%. The business had revenue of $242.40 million for the quarter, compared to analyst estimates of $233.79 million. During the same quarter in the prior year, the business posted ($0.02) EPS. Splunk’s revenue for the quarter was up 30.4% compared to the same quarter last year.
SPLK has been the subject of several recent analyst reports. BTIG Research initiated coverage on shares of Splunk in a research report on Monday, April 17th. They set a “buy” rating and a $80.00 price objective for the company. Zacks Investment Research downgraded shares of Splunk from a “buy” rating to a “hold” rating in a research report on Thursday, April 27th. Rosenblatt Securities initiated coverage on shares of Splunk in a research report on Wednesday, March 8th. They set a “buy” rating and a $75.00 price objective for the company. Royal Bank of Canada restated a “buy” rating on shares of Splunk in a research report on Friday, April 21st. Finally, Canaccord Genuity restated a “buy” rating and set a $70.00 price objective on shares of Splunk in a research report on Wednesday, February 22nd. Eleven research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $70.87.
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In other Splunk news, Director Godfrey Sullivan sold 128,750 shares of the company’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $60.81, for a total value of $7,829,287.50. Following the transaction, the director now directly owns 902,926 shares in the company, valued at approximately $54,906,930.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Leonard R. Stein sold 7,716 shares of the company’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $60.77, for a total transaction of $468,901.32. Following the completion of the transaction, the senior vice president now owns 82,345 shares in the company, valued at $5,004,105.65. The disclosure for this sale can be found here. Insiders sold a total of 219,255 shares of company stock worth $13,453,887 over the last quarter. Insiders own 3.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Motley Fool Wealth Management LLC raised its position in Splunk by 161.9% in the fourth quarter. Motley Fool Wealth Management LLC now owns 218,542 shares of the software company’s stock worth $11,178,000 after buying an additional 135,111 shares during the period. Comerica Bank purchased a new position in Splunk during the fourth quarter worth about $354,000. Motley Fool Asset Management LLC raised its position in Splunk by 500.0% in the third quarter. Motley Fool Asset Management LLC now owns 30,000 shares of the software company’s stock worth $1,760,000 after buying an additional 25,000 shares during the period. Diversified Trust Co purchased a new position in Splunk during the first quarter worth about $212,000. Finally, Nationwide Fund Advisors raised its position in Splunk by 28.0% in the first quarter. Nationwide Fund Advisors now owns 159,900 shares of the software company’s stock worth $9,960,000 after buying an additional 34,950 shares during the period. Institutional investors own 97.80% of the company’s stock.
Shares of Splunk (NASDAQ:SPLK) traded down 6.98% on Friday, reaching $62.41. 10,078,593 shares of the company’s stock were exchanged. Splunk has a one year low of $49.36 and a one year high of $69.23. The firm has a 50 day moving average of $64.46 and a 200 day moving average of $60.13. The firm’s market capitalization is $8.63 billion.
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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