Splunk Inc (SPLK) Expected to Post Quarterly Sales of $390.46 Million

Equities research analysts expect that Splunk Inc (NASDAQ:SPLK) will report sales of $390.46 million for the current fiscal quarter, according to Zacks. Eleven analysts have made estimates for Splunk’s earnings, with the lowest sales estimate coming in at $388.90 million and the highest estimate coming in at $399.50 million. Splunk reported sales of $949.96 million in the same quarter last year, which would suggest a negative year over year growth rate of 58.9%. The company is expected to report its next quarterly earnings report on Thursday, February 22nd.

On average, 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 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 calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Splunk.

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

A number of research analysts recently commented on SPLK shares. Robert W. Baird reissued an “average” rating and issued a $85.00 target price (up previously from $75.00) on shares of Splunk in a research note on Monday, November 20th. Needham & Company LLC started coverage on Splunk in a research note on Monday, October 23rd. They issued a “buy” rating and a $95.00 target price on the stock. Northland Securities restated a “buy” rating and set a $80.00 price target on shares of Splunk in a research report on Thursday, October 19th. Mizuho upgraded shares of Splunk from a “neutral” rating to a “buy” rating and upped their price target for the company from $60.00 to $90.00 in a research report on Friday, November 17th. Finally, Wells Fargo & Co restated a “buy” rating and set a $95.00 price target on shares of Splunk in a research report on Friday, November 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirty have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $84.29.

Splunk (SPLK) opened at $89.59 on Tuesday. The company has a market capitalization of $12,670.00, a price-to-earnings ratio of -40.17 and a beta of 2.04. Splunk has a 12 month low of $54.17 and a 12 month high of $93.68.

In related news, insider Ledger Susan St. sold 10,316 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $70.17, for a total transaction of $723,873.72. Following the completion of the sale, the insider now owns 253,102 shares of the company’s stock, valued at $17,760,167.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Godfrey Sullivan sold 120,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $68.22, for a total transaction of $8,186,400.00. Following the sale, the director now directly owns 585,790 shares of the company’s stock, valued at approximately $39,962,593.80. The disclosure for this sale can be found here. Insiders have sold 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.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Prudential Financial Inc. increased its position 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 valued at $406,000 after acquiring an additional 200 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Splunk by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 4,950 shares of the software company’s stock valued at $282,000 after acquiring an additional 389 shares in the last quarter. Voya Investment Management LLC increased its position in shares of Splunk by 0.8% during the second quarter. Voya Investment Management LLC now owns 53,078 shares of the software company’s stock valued at $3,020,000 after acquiring an additional 436 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Splunk by 24.1% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,375 shares of the software company’s stock valued at $195,000 after acquiring an additional 656 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its position in shares of Splunk by 3.6% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 22,794 shares of the software company’s stock valued at $1,514,000 after acquiring an additional 800 shares in the last quarter.

COPYRIGHT VIOLATION NOTICE: This article was first posted by American Banking News and is the sole property of of American Banking News. If you are reading this article on another publication, it was copied illegally and reposted in violation of US & international trademark & copyright legislation. The original version of this article can be viewed at https://www.americanbankingnews.com/2018/02/06/splunk-inc-splk-expected-to-post-quarterly-sales-of-390-46-million-2.html.

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.

Get a free copy of the Zacks research report on Splunk (SPLK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Splunk (NASDAQ:SPLK)

Receive News & Ratings for Splunk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Splunk and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply