Splunk Inc. (SPLK) Expected to Post Quarterly Sales of $309.01 Million
Analysts predict that Splunk Inc. (NASDAQ:SPLK) will report sales of $309.01 million for the current fiscal quarter, according to Zacks. Twelve analysts have provided estimates for Splunk’s earnings, with the lowest sales estimate coming in at $306.40 million and the highest estimate coming in at $319.10 million. Splunk posted sales of $244.79 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 26.2%. The company is expected to issue its next quarterly earnings report after the market closes on Thursday, November 16th.
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 financial year, analysts forecast that the company will report sales of $1.53 billion per share, with estimates ranging from $1.48 billion to $1.62 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Splunk.
Splunk (NASDAQ:SPLK) last released its quarterly earnings results on Thursday, August 24th. The software company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.02. Splunk had a negative net margin of 36.81% and a negative return on equity of 75.81%. The business had revenue of $279.96 million for the quarter, compared to analyst estimates of $268.72 million. During the same period in the previous year, the company earned $0.05 earnings per share. The business’s revenue for the quarter was up 31.6% on a year-over-year basis.
A number of equities research analysts have recently weighed in on the stock. Royal Bank Of Canada reissued a “buy” rating and set a $76.00 price objective on shares of Splunk in a report on Tuesday. BMO Capital Markets reissued a “buy” rating and set a $71.00 price objective on shares of Splunk in a report on Wednesday, September 27th. ValuEngine raised shares of Splunk from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Credit Suisse Group assumed coverage on shares of Splunk in a report on Tuesday, September 5th. They set an “outperform” rating and a $80.00 price objective on the stock. Finally, Drexel Hamilton reissued a “buy” rating and set a $93.00 price objective on shares of Splunk in a report on Monday, September 18th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. Splunk has an average rating of “Buy” and an average target price of $74.00.
Splunk (NASDAQ:SPLK) opened at $69.74 on Friday. Splunk has a 1-year low of $50.64 and a 1-year high of $71.46.
In other news, SVP Ledger Susan St. sold 677 shares of the firm’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $69.52, for a total value of $47,065.04. Following the sale, the senior vice president now directly owns 168,376 shares in the company, valued at approximately $11,705,499.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Godfrey Sullivan sold 128,750 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $67.84, for a total transaction of $8,734,400.00. Following the completion of the sale, the director now owns 699,540 shares in the company, valued at $47,456,793.60. The disclosure for this sale can be found here. Insiders sold a total of 628,881 shares of company stock worth $40,315,252 over the last 90 days. Company insiders own 1.43% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB grew its position in shares of Splunk by 0.3% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 18,241 shares of the software company’s stock valued at $1,038,000 after buying an additional 62 shares during the last quarter. Aperio Group LLC grew its position in Splunk by 1.3% during the 2nd quarter. Aperio Group LLC now owns 13,005 shares of the software company’s stock worth $740,000 after purchasing an additional 164 shares during the last quarter. Chevy Chase Trust Holdings Inc. grew its position in Splunk by 0.6% during the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 30,039 shares of the software company’s stock worth $1,709,000 after purchasing an additional 175 shares during the last quarter. Prudential Financial Inc. grew its position in Splunk by 2.9% during the 2nd quarter. Prudential Financial Inc. now owns 7,140 shares of the software company’s stock worth $406,000 after purchasing an additional 200 shares during the last quarter. Finally, IFP Advisors Inc grew its position in Splunk by 6.2% during the 2nd quarter. IFP Advisors Inc now owns 3,508 shares of the software company’s stock worth $200,000 after purchasing an additional 204 shares during the last quarter.
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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