Analysts Anticipate Splunk Inc (NASDAQ:SPLK) Will Announce Quarterly Sales of $783.94 Million

Wall Street analysts expect Splunk Inc (NASDAQ:SPLK) to announce $783.94 million in sales for the current quarter, according to Zacks Investment Research. Thirteen analysts have provided estimates for Splunk’s earnings, with estimates ranging from $774.80 million to $801.86 million. Splunk reported sales of $622.09 million during the same quarter last year, which indicates a positive year over year growth rate of 26%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, March 4th.

On average, analysts expect that Splunk will report full-year sales of $2.35 billion for the current fiscal year, with estimates ranging from $2.34 billion to $2.37 billion. For the next financial year, analysts forecast that the business will report sales of $2.88 billion, with estimates ranging from $2.73 billion to $2.97 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that that provide coverage for Splunk.

Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Thursday, November 21st. The software company reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.04. The company had revenue of $626.00 million for the quarter, compared to the consensus estimate of $605.20 million. Splunk had a negative return on equity of 11.03% and a negative net margin of 14.24%. Splunk’s quarterly revenue was up 30.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 EPS.

Several brokerages have commented on SPLK. First Analysis downgraded Splunk from an “outperform” rating to a “neutral” rating and set a $157.00 price objective on the stock. in a research report on Tuesday, January 14th. Morgan Stanley upped their target price on Splunk from $169.00 to $185.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Piper Jaffray Companies began coverage on Splunk in a report on Friday, November 8th. They issued an “overweight” rating and a $160.00 target price for the company. Stifel Nicolaus reiterated a “buy” rating and issued a $150.00 target price on shares of Splunk in a report on Monday, November 18th. Finally, Barclays upped their target price on Splunk from $142.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $162.55.

Splunk stock traded up $1.29 during mid-day trading on Friday, hitting $174.17. The company’s stock had a trading volume of 1,052,841 shares, compared to its average volume of 1,318,845. The company has a 50 day moving average of $159.35 and a 200-day moving average of $134.98. The stock has a market cap of $27.17 billion, a PE ratio of -83.74 and a beta of 2.02. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.33 and a current ratio of 2.33. Splunk has a one year low of $107.16 and a one year high of $176.31.

In related news, CEO Douglas Merritt sold 14,894 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $146.15, for a total transaction of $2,176,758.10. Following the transaction, the chief executive officer now directly owns 240,293 shares of the company’s stock, valued at approximately $35,118,821.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Scott Morgan sold 1,131 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $150.00, for a total value of $169,650.00. Following the transaction, the senior vice president now directly owns 53,741 shares in the company, valued at $8,061,150. The disclosure for this sale can be found here. Insiders have sold a total of 53,827 shares of company stock worth $8,003,783 over the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Bamco Inc. NY increased its position in Splunk by 11.8% during the 4th quarter. Bamco Inc. NY now owns 203,983 shares of the software company’s stock valued at $30,551,000 after buying an additional 21,472 shares in the last quarter. Profund Advisors LLC acquired a new position in Splunk during the 4th quarter valued at about $1,795,000. Equitable Trust Co. increased its position in Splunk by 47.2% during the 4th quarter. Equitable Trust Co. now owns 2,681 shares of the software company’s stock valued at $402,000 after buying an additional 860 shares in the last quarter. Belpointe Asset Management LLC acquired a new position in shares of Splunk in the fourth quarter valued at about $119,000. Finally, Ameritas Investment Company LLC increased its holdings in shares of Splunk by 928.9% in the fourth quarter. Ameritas Investment Company LLC now owns 4,023 shares of the software company’s stock valued at $603,000 after purchasing an additional 3,632 shares during the period. 90.54% of the stock is currently owned by institutional investors.

About Splunk

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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