$628.08 Million in Sales Expected for Splunk Inc. (NASDAQ:SPLK) This Quarter

Brokerages expect Splunk Inc. (NASDAQ:SPLKGet Rating) to post $628.08 million in sales for the current fiscal quarter, according to Zacks Investment Research. Twelve analysts have made estimates for Splunk’s earnings. The highest sales estimate is $645.80 million and the lowest is $618.50 million. Splunk reported sales of $502.05 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 25.1%. The business is scheduled to issue its next quarterly earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Splunk will report full-year sales of $3.27 billion for the current financial year, with estimates ranging from $3.20 billion to $3.30 billion. For the next fiscal year, analysts expect that the business will post sales of $4.03 billion, with estimates ranging from $3.89 billion to $4.34 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Splunk.

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

A number of research analysts have recently weighed in on the stock. BTIG Research raised shares of Splunk from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a research report on Monday, January 24th. StockNews.com initiated coverage on shares of Splunk in a report on Thursday, March 31st. They issued a “hold” rating for the company. Needham & Company LLC cut their price objective on shares of Splunk from $181.00 to $145.00 and set a “buy” rating for the company in a report on Friday, March 4th. Oppenheimer cut their price objective on shares of Splunk from $203.00 to $175.00 and set an “outperform” rating for the company in a report on Thursday, March 3rd. Finally, The Goldman Sachs Group raised their price objective on shares of Splunk from $205.00 to $232.00 and gave the stock a “buy” rating in a report on Monday, March 7th. 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.com, the company presently has a consensus rating of “Buy” and an average target price of $160.57.

Shares of Splunk stock traded up $8.04 on Friday, reaching $101.80. 3,104,416 shares of the company traded hands, compared to its average volume of 1,725,543. Splunk has a 52 week low of $84.63 and a 52 week high of $176.66. The company has a 50 day moving average of $126.94 and a 200 day moving average of $125.76. The firm has a market capitalization of $16.38 billion, a PE ratio of -12.34 and a beta of 1.32. The company has a debt-to-equity ratio of 14.09, a current ratio of 1.56 and a quick ratio of 1.56.

In related 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 value of $178,253.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Timothy Emanuelson sold 257 shares of Splunk stock in a transaction on Friday, March 18th. The stock was sold at an average price of $125.00, for a total transaction of $32,125.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,269 shares of company stock worth $392,490. Corporate insiders own 0.27% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Achmea Investment Management B.V. bought a new stake in Splunk in the 3rd quarter worth $29,000. Consolidated Planning Corp bought a new stake in Splunk in the 3rd quarter worth $29,000. Sterling Investment Advisors Ltd. bought a new stake in Splunk in the 1st quarter worth $30,000. SJS Investment Consulting Inc. grew its holdings in Splunk by 66.4% in the 1st quarter. SJS Investment Consulting Inc. now owns 228 shares of the software company’s stock worth $34,000 after acquiring an additional 91 shares during the last quarter. Finally, Wolverine Asset Management LLC grew its holdings in Splunk by 109.2% in the 1st quarter. Wolverine Asset Management LLC now owns 235 shares of the software company’s stock worth $34,000 after acquiring an additional 2,800 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

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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