Brokerages Expect Splunk Inc. (NASDAQ:SPLK) Will Announce Quarterly Sales of $628.08 Million

Wall Street analysts predict that Splunk Inc. (NASDAQ:SPLKGet Rating) will report sales of $628.08 million for the current fiscal quarter, Zacks Investment Research reports. Twelve analysts have issued estimates for Splunk’s earnings, with the lowest sales estimate coming in at $618.50 million and the highest estimate coming in at $645.80 million. Splunk posted sales of $502.05 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 25.1%. The business is expected to announce its next quarterly earnings report after the market closes on Monday, January 1st.

On average, analysts expect that Splunk will report full year sales of $3.27 billion for the current fiscal year, with estimates ranging from $3.20 billion to $3.30 billion. For the next fiscal year, analysts anticipate that the company will post sales of $4.03 billion, with estimates ranging from $3.89 billion to $4.34 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Splunk.

Splunk (NASDAQ:SPLKGet Rating) last released its quarterly earnings results on Wednesday, March 2nd. The software company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($1.21) by $0.85. The business had revenue of $901.12 million for the quarter, compared to analysts’ expectations of $774.08 million. Splunk had a negative net margin of 50.08% and a negative return on equity of 128.38%. During the same quarter in the previous year, the business posted ($0.61) earnings per share.

A number of equities research analysts have issued reports on the company. Needham & Company LLC cut their price target on Splunk from $181.00 to $145.00 and set a “buy” rating for the company in a research note on Friday, March 4th. Deutsche Bank Aktiengesellschaft increased their price target on Splunk from $140.00 to $145.00 and gave the company a “hold” rating in a report on Thursday, March 3rd. Citigroup increased their target price on Splunk from $120.00 to $145.00 and gave the stock a “neutral” rating in a research note on Thursday, March 10th. Zacks Investment Research raised Splunk from a “hold” rating to a “buy” rating and set a $135.00 price target on the stock in a research report on Tuesday, March 8th. Finally, Daiwa Capital Markets raised Splunk from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $134.00 to $140.00 in a research report on Friday, March 4th. Eleven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $160.57.

Splunk stock traded up $5.80 on Friday, hitting $93.76. 4,427,104 shares of the stock traded hands, compared to its average volume of 2,402,179. The business’s fifty day simple moving average is $128.15 and its 200 day simple moving average is $127.00. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 14.09. The firm has a market cap of $15.09 billion, a P/E ratio of -11.02 and a beta of 1.32. Splunk has a 1 year low of $84.63 and a 1 year high of $176.66.

In related news, CAO Timothy Emanuelson sold 389 shares of the firm’s stock in a transaction that occurred on Thursday, March 3rd. The stock was sold at an average price of $125.00, for a total value of $48,625.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Scott Morgan sold 1,588 shares of the firm’s stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $112.25, for a total value of $178,253.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,269 shares of company stock valued at $392,490. Company insiders own 0.27% of the company’s stock.

A number of large investors have recently made changes to their positions in SPLK. PNC Financial Services Group Inc. grew its holdings in Splunk by 4.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 15,697 shares of the software company’s stock valued at $2,271,000 after buying an additional 616 shares during the last quarter. Truist Financial Corp grew its holdings in Splunk by 10.4% during the 3rd quarter. Truist Financial Corp now owns 35,364 shares of the software company’s stock valued at $5,118,000 after buying an additional 3,333 shares during the last quarter. Moors & Cabot Inc. grew its holdings in Splunk by 716.8% during the 3rd quarter. Moors & Cabot Inc. now owns 175,000 shares of the software company’s stock valued at $180,000 after buying an additional 153,576 shares during the last quarter. Advisory Services Network LLC grew its holdings in Splunk by 11.2% during the 3rd quarter. Advisory Services Network LLC now owns 6,287 shares of the software company’s stock valued at $910,000 after buying an additional 634 shares during the last quarter. Finally, Keybank National Association OH grew its holdings in Splunk by 17.6% during the 3rd quarter. Keybank National Association OH now owns 7,819 shares of the software company’s stock valued at $1,131,000 after buying an additional 1,171 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

About Splunk (Get Rating)

Splunk Inc, together with its subsidiaries, provides software and cloud solutions that deliver and operationalize insights from the data generated by digital systems in the United States and internationally. The company offers Splunk Platform, a real-time data platform comprising collection, streaming, indexing, search, reporting, analysis, machine learning, alerting, monitoring, and data management capabilities.

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