Wall Street brokerages expect that Splunk Inc (NASDAQ:SPLK) will report $390.46 million in sales for the current quarter, Zacks Investment Research reports. Eleven analysts have made estimates for Splunk’s earnings, with estimates ranging from $388.90 million to $399.50 million. Splunk reported sales of $949.96 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 58.9%. The firm is expected to announce its next quarterly earnings report on Thursday, February 22nd.

According to Zacks, analysts expect that Splunk will report full year sales of $390.46 million for the current fiscal year, with estimates ranging from $1.21 billion to $1.25 billion. For the next fiscal year, analysts expect that the business will post sales of $1.56 billion per share, with estimates ranging from $1.55 billion to $1.57 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Splunk.

Splunk (NASDAQ:SPLK) last announced its quarterly earnings results on Thursday, November 16th. The software company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.59. The business had revenue of $328.65 million for the quarter, compared to the consensus estimate of $309.01 million. Splunk had a negative net margin of 32.72% and a negative return on equity of 72.06%.

A number of research firms recently issued reports on SPLK. Zacks Investment Research raised Splunk from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Friday. Wells Fargo & Co reissued a “buy” rating and set a $95.00 target price on shares of Splunk in a research note on Friday, November 17th. Deutsche Bank increased their target price on Splunk to $100.00 and gave the stock a “buy” rating in a research note on Monday, January 15th. Jefferies Group reissued a “buy” rating and set a $88.00 target price on shares of Splunk in a research note on Friday, November 17th. Finally, JMP Securities increased their target price on Splunk from $70.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, November 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $84.29.

In other Splunk news, CFO David F. Conte sold 6,993 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $80.73, for a total transaction of $564,544.89. Following the completion of the sale, the chief financial officer now owns 110,364 shares of the company’s stock, valued at approximately $8,909,685.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ledger Susan St. sold 10,316 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $70.17, for a total value of $723,873.72. Following the sale, the insider now directly owns 253,102 shares of the company’s stock, valued at approximately $17,760,167.34. The disclosure for this sale can be found here. Insiders have sold a total of 201,036 shares of company stock valued at $14,132,192 in the last ninety days. Insiders own 1.43% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Comerica Bank lifted its holdings in shares of Splunk by 26.3% during the second quarter. Comerica Bank now owns 8,433 shares of the software company’s stock worth $517,000 after buying an additional 1,754 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of Splunk by 2.9% during the second quarter. Prudential Financial Inc. now owns 7,140 shares of the software company’s stock worth $406,000 after buying an additional 200 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in shares of Splunk by 2.7% during the second quarter. TIAA CREF Investment Management LLC now owns 345,568 shares of the software company’s stock worth $19,659,000 after buying an additional 9,113 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Splunk by 2.1% during the second quarter. BlackRock Inc. now owns 7,075,105 shares of the software company’s stock worth $402,503,000 after buying an additional 143,138 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of Splunk by 35.5% during the second quarter. Amalgamated Bank now owns 25,921 shares of the software company’s stock worth $1,475,000 after buying an additional 6,792 shares in the last quarter.

Shares of Splunk (SPLK) opened at $89.94 on Friday. Splunk has a 52-week low of $52.89 and a 52-week high of $92.10. The firm has a market cap of $12,720.00, a P/E ratio of -40.33 and a beta of 2.07.

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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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Earnings History and Estimates for Splunk (NASDAQ:SPLK)

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