Zacks: Brokerages Anticipate Splunk Inc. (NASDAQ:SPLK) Will Post Quarterly Sales of $744.07 Million

Wall Street brokerages expect Splunk Inc. (NASDAQ:SPLK – Get Rating) to announce $744.07 million in sales for the current quarter, Zacks reports. Four analysts have made estimates for Splunk’s earnings. The lowest sales estimate is $739.45 million and the highest is $746.61 million. Splunk posted sales of $605.74 million in the same quarter last year, which suggests a positive year over year growth rate of 22.8%. The company is scheduled to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Splunk will report full-year sales of $3.27 billion for the current fiscal year, with estimates ranging from $3.25 billion to $3.30 billion. For the next year, analysts forecast that the firm will report sales of $4.02 billion, with estimates ranging from $3.89 billion to $4.34 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Splunk.

Splunk (NASDAQ:SPLK – Get Rating) last released its quarterly earnings data on Wednesday, May 25th. The software company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.74) by $0.42. The business had revenue of $674.08 million for the quarter, compared to analysts’ expectations of $629.73 million. Splunk had a negative return on equity of 128.38% and a negative net margin of 50.08%. The firm’s quarterly revenue was up 34.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.84) EPS.

Several equities research analysts have recently commented on SPLK shares. Needham & Company LLC reduced their price objective on Splunk from $145.00 to $118.00 and set a “buy” rating for the company in a research note on Thursday. Citigroup dropped their target price on shares of Splunk from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Friday. Piper Sandler dropped their target price on shares of Splunk from $150.00 to $130.00 in a report on Thursday. Oppenheimer dropped their target price on shares of Splunk from $175.00 to $140.00 in a report on Thursday. Finally, The Goldman Sachs Group increased their price objective on shares of Splunk from $205.00 to $232.00 and gave the company a “buy” rating in a report on Monday, March 7th. Eleven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Splunk currently has an average rating of “Buy” and an average target price of $145.54.

In other news, SVP Scott Morgan sold 1,588 shares of Splunk stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $112.25, for a total transaction of $178,253.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Timothy Emanuelson sold 389 shares of Splunk stock in a transaction on Thursday, March 3rd. The stock was sold at an average price of $125.00, for a total transaction of $48,625.00. The disclosure for this sale can be found here. Insiders have sold 2,491 shares of company stock valued at $295,240 over the last quarter. Insiders own 0.27% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. DNB Asset Management AS raised its holdings in shares of Splunk by 8.2% during the fourth quarter. DNB Asset Management AS now owns 45,479 shares of the software company’s stock worth $5,263,000 after purchasing an additional 3,441 shares during the last quarter. Tudor Investment Corp Et Al purchased a new position in Splunk in the third quarter valued at $1,842,000. Russell Investments Group Ltd. increased its holdings in Splunk by 37.1% in the fourth quarter. Russell Investments Group Ltd. now owns 17,824 shares of the software company’s stock valued at $2,060,000 after buying an additional 4,821 shares in the last quarter. Cetera Advisors LLC purchased a new position in Splunk in the third quarter valued at $305,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Splunk by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 528,792 shares of the software company’s stock valued at $61,192,000 after buying an additional 16,836 shares in the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

Shares of SPLK opened at $108.50 on Friday. The firm has a market cap of $17.46 billion, a PE ratio of -13.15 and a beta of 1.32. 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 fifty day simple moving average of $122.08 and a two-hundred day simple moving average of $121.24. Splunk has a 1-year low of $84.63 and a 1-year high of $176.66.

Splunk Company Profile (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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