Wall Street analysts expect Splunk Inc (NASDAQ:SPLK) to announce $390.63 million in sales for the current fiscal quarter, Zacks Investment Research reports. Eleven analysts have issued estimates for Splunk’s earnings, with estimates ranging from $388.90 million to $401.40 million. Splunk reported sales of $949.96 million during the same quarter last year, which would suggest a negative year over year growth rate of 58.9%. The firm is expected to issue its next quarterly earnings report after the market closes on Thursday, March 1st.
On average, analysts expect that Splunk will report full year sales of $390.63 million for the current fiscal year, with estimates ranging from $1.24 billion to $1.25 billion. For the next fiscal year, analysts forecast that the firm will post sales of $1.56 billion per share, with estimates ranging from $1.55 billion to $1.57 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Splunk.
Several equities analysts have recently weighed in on SPLK shares. Canaccord Genuity reaffirmed a “buy” rating and issued a $90.00 price objective (up from $80.00) on shares of Splunk in a research note on Friday, November 17th. Robert W. Baird reaffirmed an “average” rating and issued a $85.00 price objective (up from $75.00) on shares of Splunk in a research note on Monday, November 20th. Barclays lifted their price objective on Splunk from $73.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, November 17th. Piper Jaffray Companies lifted their price objective on Splunk to $85.00 and gave the company an “overweight” rating in a research note on Friday, November 17th. Finally, Zacks Investment Research lowered Splunk from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $84.59.
In other news, insider Douglas Merritt sold 10,126 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $80.05, for a total value of $810,586.30. Following the completion of the sale, the insider now directly owns 189,079 shares in the company, valued at approximately $15,135,773.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Godfrey Sullivan sold 8,750 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $81.29, for a total value of $711,287.50. Following the completion of the sale, the director now owns 207,239 shares of the company’s stock, valued at $16,846,458.31. The disclosure for this sale can be found here. Insiders have sold a total of 30,720 shares of company stock worth $2,477,118 over the last 90 days. 1.43% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Splunk in the 4th quarter valued at approximately $456,000. Xact Kapitalforvaltning AB increased its holdings in shares of Splunk by 16.3% in the 4th quarter. Xact Kapitalforvaltning AB now owns 21,869 shares of the software company’s stock valued at $1,812,000 after acquiring an additional 3,065 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Splunk by 7.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 10,473 shares of the software company’s stock valued at $866,000 after acquiring an additional 698 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Splunk by 126.2% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 148,242 shares of the software company’s stock valued at $12,280,000 after acquiring an additional 82,707 shares during the last quarter. Finally, Slow Capital Inc. bought a new stake in shares of Splunk in the 4th quarter valued at approximately $651,000. Institutional investors and hedge funds own 98.50% of the company’s stock.
Splunk (NASDAQ:SPLK) opened at $93.21 on Friday. The firm has a market capitalization of $13,190.00, a PE ratio of -41.80 and a beta of 2.04. Splunk has a 52 week low of $54.17 and a 52 week high of $97.27.
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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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