Splunk Inc. (NASDAQ:SPLK) Expected to Post Quarterly Sales of $268.70 Million
Equities analysts expect that Splunk Inc. (NASDAQ:SPLK) will post $268.70 million in sales for the current fiscal quarter, Zacks reports. Eleven analysts have issued estimates for Splunk’s earnings, with estimates ranging from $267.41 million to $272.70 million. Splunk reported sales of $212.75 million in the same quarter last year, which indicates a positive year-over-year growth rate of 26.3%. The company is expected to issue its next earnings report on Thursday, August 24th.
According to Zacks, analysts expect that Splunk will report full year sales of $268.70 million for the current year, with estimates ranging from $1.19 billion to $1.21 billion. For the next year, analysts forecast that the firm will report sales of $1.52 billion per share, with estimates ranging from $1.46 billion to $1.60 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Splunk.
Splunk (NASDAQ:SPLK) last released its quarterly earnings results on Thursday, May 25th. The software company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.03. The firm had revenue of $242.40 million during the quarter, compared to analysts’ expectations of $233.79 million. Splunk had a negative return on equity of 40.82% and a negative net margin of 35.19%. Splunk’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.02) EPS.
Several equities research analysts have recently commented on SPLK shares. BTIG Research started coverage on Splunk in a research note on Monday, April 17th. They issued a “buy” rating and a $80.00 target price for the company. Guggenheim raised Splunk from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $69.00 to $70.00 in a research note on Thursday, June 22nd. Citigroup Inc. lifted their price objective on Splunk from $62.00 to $64.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 30th. Zacks Investment Research cut Splunk from a “buy” rating to a “hold” rating in a research note on Thursday, April 27th. Finally, 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 note on Thursday, June 15th. Eleven equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $71.26.
In other Splunk news, CFO David F. Conte sold 1,044 shares of the stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $62.20, for a total transaction of $64,936.80. Following the completion of the sale, the chief financial officer now directly owns 207,965 shares in the company, valued at approximately $12,935,423. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Godfrey Sullivan sold 48,750 shares of the stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $56.94, for a total value of $2,775,825.00. Following the sale, the director now owns 843,290 shares of the company’s stock, valued at $48,016,932.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 358,056 shares of company stock valued at $20,784,524. 3.00% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the company. Columbus Circle Investors acquired a new stake in shares of Splunk during the first quarter worth $1,602,000. DnB Asset Management AS acquired a new stake in shares of Splunk during the first quarter worth $685,000. Bank of Montreal Can increased its stake in shares of Splunk by 293.5% in the first quarter. Bank of Montreal Can now owns 103,462 shares of the software company’s stock worth $6,445,000 after buying an additional 77,166 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in shares of Splunk by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 41,660 shares of the software company’s stock valued at $2,595,000 after buying an additional 500 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. purchased a new stake in shares of Splunk during the first quarter valued at approximately $1,860,000.
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Splunk (NASDAQ:SPLK) traded down 0.718% during midday trading on Thursday, hitting $61.505. The company had a trading volume of 958,808 shares. The company’s 50 day moving average is $58.91 and its 200-day moving average is $60.84. The company’s market cap is $8.51 billion. Splunk has a one year low of $50.64 and a one year high of $69.23.
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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