Zacks: Brokerages Expect Splunk Inc (NASDAQ:SPLK) Will Post Quarterly Sales of $486.39 Million

Equities research analysts predict that Splunk Inc (NASDAQ:SPLK) will announce sales of $486.39 million for the current fiscal quarter, Zacks reports. Fourteen analysts have issued estimates for Splunk’s earnings. The lowest sales estimate is $483.40 million and the highest is $500.30 million. Splunk reported sales of $388.30 million in the same quarter last year, which would suggest a positive year over year growth rate of 25.3%. The firm is expected to report its next earnings results on Thursday, August 22nd.

On average, analysts expect that Splunk will report full year sales of $2.26 billion for the current fiscal year, with estimates ranging from $2.25 billion to $2.31 billion. For the next year, analysts anticipate that the company will report sales of $2.73 billion, with estimates ranging from $2.66 billion to $2.81 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Splunk.

Splunk (NASDAQ:SPLK) last released its earnings results on Thursday, May 23rd. The software company reported ($0.85) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.77) by ($0.08). The firm had revenue of $424.90 million during the quarter, compared to analysts’ expectations of $395.92 million. Splunk had a negative return on equity of 14.98% and a negative net margin of 16.31%. The company’s revenue was up 36.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.07) earnings per share.

Several equities research analysts recently issued reports on the stock. Goldman Sachs Group assumed coverage on shares of Splunk in a report on Friday, June 7th. They issued a “neutral” rating and a $119.00 target price for the company. Maxim Group reissued a “buy” rating and issued a $148.00 target price (down from $159.00) on shares of Splunk in a report on Monday, June 3rd. BidaskClub lowered shares of Splunk from a “buy” rating to a “hold” rating in a report on Saturday, June 1st. Zacks Investment Research raised shares of Splunk from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Finally, ValuEngine lowered shares of Splunk from a “strong-buy” rating to a “buy” rating in a report on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-four have issued a buy rating to the stock. Splunk presently has a consensus rating of “Buy” and an average price target of $144.27.

Splunk stock remained flat at $$118.24 during midday trading on Monday. 1,369,756 shares of the company traded hands, compared to its average volume of 2,569,941. The stock has a market cap of $17.76 billion, a price-to-earnings ratio of -74.36 and a beta of 2.15. Splunk has a one year low of $83.69 and a one year high of $143.70. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 1.29.

In other news, insider Douglas Merritt sold 12,715 shares of the stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $126.76, for a total value of $1,611,753.40. Following the transaction, the insider now owns 313,286 shares in the company, valued at approximately $39,712,133.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John G. Connors sold 42,000 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $124.10, for a total value of $5,212,200.00. Following the completion of the transaction, the director now owns 70,720 shares in the company, valued at approximately $8,776,352. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,953 shares of company stock valued at $11,725,445. 0.36% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cable Hill Partners LLC purchased a new position in Splunk during the 1st quarter worth approximately $25,000. Berman Capital Advisors LLC acquired a new position in shares of Splunk in the fourth quarter worth about $29,000. Trustcore Financial Services LLC bought a new stake in Splunk in the first quarter valued at about $37,000. Bessemer Group Inc. increased its holdings in Splunk by 192.2% in the fourth quarter. Bessemer Group Inc. now owns 301 shares of the software company’s stock valued at $32,000 after buying an additional 198 shares during the last quarter. Finally, Mirova increased its holdings in Splunk by 41.8% in the first quarter. Mirova now owns 329 shares of the software company’s stock valued at $41,000 after buying an additional 97 shares during the last quarter.

Splunk Company Profile

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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Earnings History and Estimates for Splunk (NASDAQ:SPLK)

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