Splunk Inc. (NASDAQ:SPLK) – Wedbush cut their Q2 2018 earnings per share (EPS) estimates for Splunk in a report issued on Thursday. Wedbush analyst S. Koenig now expects that the software company will post earnings per share of ($0.43) for the quarter, down from their prior estimate of ($0.41). Wedbush has a “Neutral” rating and a $63.00 price target on the stock. Wedbush also issued estimates for Splunk’s Q3 2018 earnings at ($0.36) EPS, Q4 2018 earnings at ($0.17) EPS, FY2018 earnings at ($1.63) EPS, Q1 2019 earnings at ($0.58) EPS, Q2 2019 earnings at ($0.53) EPS, Q3 2019 earnings at ($0.46) EPS, Q4 2019 earnings at ($0.22) EPS and FY2019 earnings at ($1.79) EPS.

Splunk (NASDAQ:SPLK) last released its earnings results on Thursday, May 25th. The software company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. The firm had revenue of $242.40 million during the quarter, compared to the consensus estimate of $233.79 million. Splunk had a negative return on equity of 40.82% and a negative net margin of 35.19%. The firm’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.02) earnings per share.

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Earnings History and Estimates for Splunk (NASDAQ:SPLK)

Several other analysts have also weighed in on the stock. BidaskClub lowered shares of Splunk from a “buy” rating to a “hold” rating in a report on Saturday, June 10th. Susquehanna Bancshares Inc began coverage on shares of Splunk in a report on Wednesday, June 7th. They issued a “neutral” rating and a $68.00 price target for the company. Zacks Investment Research lowered shares of Splunk from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. MKM Partners reissued a “neutral” rating and issued a $63.00 price target (up previously from $60.00) on shares of Splunk in a report on Tuesday, May 30th. Finally, Citigroup Inc. raised their price target on shares of Splunk from $62.00 to $64.00 and gave the company a “neutral” rating in a report on Tuesday, May 30th. Thirteen equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $71.41.

Shares of Splunk (SPLK) opened at 57.50 on Monday. The firm’s market capitalization is $7.96 billion. The firm has a 50-day moving average price of $63.82 and a 200-day moving average price of $60.23. Splunk has a 52-week low of $50.60 and a 52-week high of $69.23.

In related news, insider Douglas Merritt sold 10,125 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $58.01, for a total value of $587,351.25. Following the sale, the insider now directly owns 231,440 shares of the company’s stock, valued at approximately $13,425,834.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Godfrey Sullivan sold 128,750 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $57.58, for a total transaction of $7,413,425.00. Following the completion of the sale, the director now directly owns 843,290 shares in the company, valued at $48,556,638.20. The disclosure for this sale can be found here. Insiders sold a total of 306,748 shares of company stock worth $18,031,006 over the last ninety days. 3.00% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the stock. IFP Advisors Inc boosted its stake in Splunk by 0.6% in the first quarter. IFP Advisors Inc now owns 3,304 shares of the software company’s stock valued at $206,000 after buying an additional 20 shares in the last quarter. Bluestein R H & Co. boosted its stake in Splunk by 0.9% in the fourth quarter. Bluestein R H & Co. now owns 4,034 shares of the software company’s stock valued at $206,000 after buying an additional 34 shares in the last quarter. Patten Group Inc. boosted its stake in Splunk by 3.6% in the first quarter. Patten Group Inc. now owns 2,154 shares of the software company’s stock valued at $131,000 after buying an additional 75 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Splunk by 0.5% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 24,759 shares of the software company’s stock valued at $1,542,000 after buying an additional 118 shares during the period. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Splunk by 0.3% in the first quarter. Great West Life Assurance Co. Can now owns 68,472 shares of the software company’s stock valued at $4,260,000 after buying an additional 178 shares during the period.

About Splunk

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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