Splunk (NASDAQ:SPLK – Get Free Report) 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 – Get Free Report) 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
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.
- Five stocks we like better than Splunk
- 3 Warren Buffett Stocks to Buy Now
- The most upgraded stocks in November have two things in common
- Investing in Commodities: What Are They? How to Invest in Them
- Monday.com rocked earnings like it’s the weekend
- Short Selling: How to Short a Stock
- Plan to own one retailer? Make it this one
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.