Splunk (SPLK) to Release Quarterly Earnings on Tuesday

Splunk (NASDAQ:SPLK) is scheduled to be releasing its earnings data after the market closes on Tuesday, November 28th. Analysts expect Splunk to post earnings of $1.12 per share for the quarter. Splunk has set its FY 2024 guidance at EPS and its Q3 2024 guidance at EPS.

Splunk (NASDAQ:SPLK) last posted its quarterly earnings data on Wednesday, August 23rd. The software company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.25. Splunk had a negative net margin of 0.61% and a negative return on equity of 22.78%. The company had revenue of $910.59 million for the quarter, compared to analyst estimates of $889.29 million. During the same period in the prior year, the firm posted ($0.94) EPS. The company’s quarterly revenue was up 14.0% on a year-over-year basis. On average, analysts expect Splunk to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Splunk Stock Performance

NASDAQ:SPLK opened at $151.29 on Tuesday. The firm’s fifty day moving average is $143.66 and its 200-day moving average is $117.74. Splunk has a 52 week low of $72.17 and a 52 week high of $151.50. The firm has a market cap of $25.50 billion, a P/E ratio of -458.45, a P/E/G ratio of 12.39 and a beta of 1.09.

Insider Buying and Selling

In related news, CEO Gary Steele sold 9,600 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $120.08, for a total transaction of $1,152,768.00. Following the completion of the sale, the chief executive officer now owns 154,678 shares in the company, valued at $18,573,734.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Splunk news, SVP Scott Morgan sold 4,000 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $151.10, for a total transaction of $604,400.00. Following the completion of the transaction, the senior vice president now owns 105,535 shares in the company, valued at $15,946,338.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gary Steele sold 9,600 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $120.08, for a total transaction of $1,152,768.00. Following the transaction, the chief executive officer now owns 154,678 shares of the company’s stock, valued at approximately $18,573,734.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,962 shares of company stock worth $3,967,513. Insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Splunk

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP bought a new position in Splunk during the second quarter worth about $41,000. Coppell Advisory Solutions Corp. bought a new position in shares of Splunk in the fourth quarter valued at approximately $45,000. Harbour Investments Inc. boosted its position in shares of Splunk by 30.4% in the third quarter. Harbour Investments Inc. now owns 442 shares of the software company’s stock valued at $65,000 after acquiring an additional 103 shares during the period. Dark Forest Capital Management LP boosted its position in shares of Splunk by 965.7% in the first quarter. Dark Forest Capital Management LP now owns 746 shares of the software company’s stock valued at $72,000 after acquiring an additional 676 shares during the period. Finally, Loomis Sayles & Co. L P bought a new position in shares of Splunk in the first quarter valued at approximately $89,000. Institutional investors own 87.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SPLK. JPMorgan Chase & Co. upped their price objective on shares of Splunk from $100.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, August 24th. Rosenblatt Securities lowered shares of Splunk from a “buy” rating to a “neutral” rating and increased their target price for the stock from $145.00 to $157.00 in a research note on Thursday, September 21st. Bank of America increased their target price on shares of Splunk from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, August 24th. Robert W. Baird lowered shares of Splunk from an “outperform” rating to a “neutral” rating in a research note on Thursday, September 21st. Finally, Truist Financial increased their target price on shares of Splunk from $130.00 to $157.00 and gave the stock a “buy” rating in a research note on Friday, September 22nd. Twenty-three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $132.68.

Splunk Company Profile

Splunk Inc, together with its subsidiaries, develops and markets cloud services and licensed software solutions in the United States and internationally. The company offers unified security and observability platform, including Splunk Security that helps security leaders fortify their organization's digital resilience by mitigating cyber risk and meeting compliance requirements; and Splunk Observability, which provides visibility across the full stack of infrastructure, applications, and the digital customer experience.