Splunk Inc. (NASDAQ:SPLK) Expected to Announce Quarterly Sales of $492.89 Million

Equities analysts expect that Splunk Inc. (NASDAQ:SPLK) will report sales of $492.89 million for the current fiscal quarter, Zacks reports. Twelve analysts have made estimates for Splunk’s earnings, with the lowest sales estimate coming in at $477.90 million and the highest estimate coming in at $511.00 million. Splunk reported sales of $434.08 million during the same quarter last year, which would suggest a positive year over year growth rate of 13.5%. The firm is scheduled to report its next earnings results on Thursday, May 20th.

According to Zacks, analysts expect that Splunk will report full year sales of $2.55 billion for the current year, with estimates ranging from $2.32 billion to $2.66 billion. For the next fiscal year, analysts expect that the firm will report sales of $3.12 billion, with estimates ranging from $2.80 billion to $3.37 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Splunk.

Splunk (NASDAQ:SPLK) last announced its earnings results on Tuesday, March 2nd. The software company reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.35. The company had revenue of $745.08 million during the quarter, compared to analyst estimates of $677.24 million. Splunk had a negative return on equity of 34.13% and a negative net margin of 34.77%. The firm’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period last year, the company posted $0.96 earnings per share.

SPLK has been the topic of several recent analyst reports. DA Davidson cut their price objective on Splunk from $177.00 to $156.00 and set a “neutral” rating on the stock in a report on Thursday, March 4th. Citigroup started coverage on Splunk in a report on Wednesday, March 3rd. They set a “neutral” rating and a $178.00 target price on the stock. Mizuho decreased their target price on Splunk from $190.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, March 10th. Robert W. Baird decreased their target price on Splunk from $215.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, March 10th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $203.00 price objective on shares of Splunk in a report on Thursday, February 11th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $207.77.

In related news, CFO Jason Child sold 1,582 shares of the firm’s stock in a transaction that occurred on Friday, April 9th. The stock was sold at an average price of $140.87, for a total transaction of $222,856.34. Following the completion of the sale, the chief financial officer now owns 179,516 shares of the company’s stock, valued at $25,288,418.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas Merritt sold 8,114 shares of the firm’s stock in a transaction that occurred on Monday, April 5th. The stock was sold at an average price of $138.48, for a total value of $1,123,626.72. Following the sale, the chief executive officer now directly owns 341,240 shares of the company’s stock, valued at approximately $47,254,915.20. The disclosure for this sale can be found here. Insiders have sold 55,719 shares of company stock valued at $7,878,053 in the last ninety days. 0.34% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in SPLK. Engineers Gate Manager LP bought a new position in Splunk in the third quarter worth approximately $756,000. Squarepoint Ops LLC bought a new position in Splunk in the third quarter worth approximately $809,000. AQR Capital Management LLC boosted its holdings in Splunk by 81.0% in the third quarter. AQR Capital Management LLC now owns 11,291 shares of the software company’s stock worth $2,124,000 after acquiring an additional 5,054 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in Splunk by 110.9% in the third quarter. Cubist Systematic Strategies LLC now owns 24,146 shares of the software company’s stock worth $4,543,000 after acquiring an additional 12,695 shares in the last quarter. Finally, Captrust Financial Advisors lifted its holdings in shares of Splunk by 1.6% in the third quarter. Captrust Financial Advisors now owns 7,495 shares of the software company’s stock valued at $1,443,000 after purchasing an additional 121 shares in the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

SPLK stock traded down $1.61 during midday trading on Friday, reaching $146.08. The stock had a trading volume of 1,821,019 shares, compared to its average volume of 2,268,130. The business has a fifty day simple moving average of $139.53 and a two-hundred day simple moving average of $172.44. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 1.41. The firm has a market cap of $23.93 billion, a price-to-earnings ratio of -29.31 and a beta of 1.44. Splunk has a twelve month low of $123.51 and a twelve month high of $225.89.

About Splunk

Splunk Inc develops and markets software solutions that enable organizations to gain real-time operational intelligence in the United States and internationally. The company offers Splunk Enterprise, a real-time data platform, which include collection, indexing, search, reporting, analysis, alerting, monitoring, and data management capabilities; and Splunk Cloud, a cloud service for machine data.

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