Splunk (SPLK) Shares Down 5.4% After Earnings Miss
Splunk Inc (NASDAQ:SPLK)’s share price was down 5.4% during trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $128.01 and last traded at $128.73. Approximately 2,981,371 shares traded hands during trading, an increase of 88% from the average daily volume of 1,584,200 shares. The stock had previously closed at $136.12.
The software company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.08). Splunk had a negative return on equity of 14.59% and a negative net margin of 15.28%. The business had revenue of $424.90 million for the quarter, compared to analyst estimates of $395.92 million. During the same quarter in the prior year, the business earned ($0.07) earnings per share. The firm’s quarterly revenue was up 36.4% on a year-over-year basis.
Several equities research analysts recently commented on SPLK shares. Needham & Company LLC reiterated a “buy” rating and set a $162.00 target price (up from $145.00) on shares of Splunk in a research report on Friday, March 1st. Monness Crespi & Hardt reiterated a “buy” rating and set a $200.00 target price (up from $170.00) on shares of Splunk in a research report on Friday, March 1st. Maxim Group lifted their target price on shares of Splunk to $159.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Deutsche Bank lifted their target price on shares of Splunk to $160.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Finally, Jefferies Financial Group cut their target price on shares of Splunk from $157.00 to $142.30 and set a “buy” rating on the stock in a research report on Friday, March 1st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $143.98.
Large investors have recently added to or reduced their stakes in the company. Cable Hill Partners LLC bought a new stake in shares of Splunk in the 1st quarter valued at $25,000. Berman Capital Advisors LLC bought a new stake in shares of Splunk in the 4th quarter valued at $29,000. Bessemer Group Inc. increased its stake in Splunk by 192.2% during the 4th quarter. Bessemer Group Inc. now owns 301 shares of the software company’s stock valued at $32,000 after purchasing an additional 198 shares in the last quarter. Trustcore Financial Services LLC bought a new stake in Splunk during the 1st quarter valued at $37,000. Finally, Mirova increased its stake in Splunk by 41.8% during the 1st quarter. Mirova now owns 329 shares of the software company’s stock valued at $41,000 after purchasing an additional 97 shares in the last quarter.
The company has a market cap of $17.91 billion, a P/E ratio of -75.03 and a beta of 2.03. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.23 and a current ratio of 3.23.
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Splunk Company Profile (NASDAQ:SPLK)
Splunk, Inc engages in the development and marketing of software solutions. Its products include Splunk cloud, Splunk light, and Splunk enterprise. It also offers solutions for information technology operations, security, internet-of-things, application analytics, business analytics, and industries. The company was founded by Erik M.
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