Splunk Inc. (SPLK) Expected to Announce Quarterly Sales of $309.01 Million
Wall Street brokerages expect Splunk Inc. (NASDAQ:SPLK) to post sales of $309.01 million for the current quarter, Zacks Investment Research reports. Twelve analysts have issued estimates for Splunk’s earnings, with the highest sales estimate coming in at $319.10 million and the lowest estimate coming in at $306.40 million. Splunk reported sales of $244.79 million during the same quarter last year, which indicates a positive year-over-year growth rate of 26.2%. The business is scheduled to issue its next quarterly earnings report on Tuesday, December 5th.
According to Zacks, analysts expect that Splunk will report full-year sales of $309.01 million for the current year, with estimates ranging from $1.21 billion to $1.23 billion. For the next year, analysts anticipate that the firm will post sales of $1.53 billion per share, with estimates ranging from $1.48 billion to $1.60 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Splunk.
Splunk (NASDAQ:SPLK) last issued its quarterly earnings data on Thursday, August 24th. The software company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. The company had revenue of $279.96 million for the quarter, compared to analyst estimates of $268.72 million. Splunk had a negative return on equity of 75.81% and a negative net margin of 36.81%. The business’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.05 earnings per share.
A number of brokerages recently weighed in on SPLK. Maxim Group reaffirmed a “buy” rating on shares of Splunk in a research report on Sunday, May 28th. Robert W. Baird set a $71.00 price objective on shares of Splunk and gave the company a “buy” rating in a research report on Saturday, May 27th. Zacks Investment Research raised shares of Splunk from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research report on Thursday, June 1st. Guggenheim raised shares of Splunk from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $69.00 to $70.00 in a research report on Thursday, June 22nd. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $71.00 price objective on shares of Splunk in a research report on Wednesday, July 12th. Twelve analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $72.76.
In related news, CFO David F. Conte sold 10,525 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $66.03, for a total value of $694,965.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Godfrey Sullivan sold 40,000 shares of the firm’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $57.69, for a total transaction of $2,307,600.00. Following the completion of the transaction, the director now owns 789,540 shares in the company, valued at $45,548,562.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 563,001 shares of company stock worth $35,297,294. 3.00% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of SPLK. Gofen & Glossberg LLC IL boosted its holdings in Splunk by 0.6% in the 1st quarter. Gofen & Glossberg LLC IL now owns 32,259 shares of the software company’s stock valued at $2,009,000 after purchasing an additional 200 shares during the period. Harbour Capital Advisors LLC bought a new stake in Splunk in the 1st quarter valued at $1,044,000. Advisors Asset Management Inc. boosted its holdings in Splunk by 7.3% in the 2nd quarter. Advisors Asset Management Inc. now owns 15,167 shares of the software company’s stock valued at $863,000 after purchasing an additional 1,032 shares during the period. Legal & General Group Plc boosted its holdings in Splunk by 1.2% in the 2nd quarter. Legal & General Group Plc now owns 547,738 shares of the software company’s stock valued at $31,160,000 after purchasing an additional 6,713 shares during the period. Finally, MARSHALL WACE ASIA Ltd bought a new stake in Splunk in the 1st quarter valued at $3,437,000.
Shares of Splunk (NASDAQ SPLK) traded down 0.63% during trading on Friday, hitting $67.52. The company’s stock had a trading volume of 311,151 shares. The firm’s 50 day moving average price is $62.39 and its 200-day moving average price is $61.84. Splunk has a 52 week low of $50.64 and a 52 week high of $69.23. The company’s market cap is $9.39 billion.
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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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