Brokerages forecast that Splunk Inc (NASDAQ:SPLK) will report sales of $390.63 million for the current quarter, according to Zacks Investment Research. Eleven analysts have made estimates for Splunk’s earnings, with the highest sales estimate coming in at $401.40 million and the lowest estimate coming in at $388.90 million. Splunk reported sales of $949.96 million during the same quarter last year, which indicates a negative year-over-year growth rate of 58.9%. The company is expected to announce its next earnings results 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 year, analysts expect that the business will post sales of $1.56 billion per share, with estimates ranging from $1.55 billion to $1.57 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Splunk.
A number of equities research analysts recently weighed in on the company. Mizuho raised their price objective on Splunk from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Stephens reaffirmed a “buy” rating on shares of Splunk in a research report on Friday. Zacks Investment Research downgraded Splunk from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. Robert W. Baird reaffirmed an “average” rating and set a $85.00 price objective (up previously from $75.00) on shares of Splunk in a research report on Monday, November 20th. Finally, UBS Group set a $80.00 price objective on Splunk and gave the company a “buy” rating in a research report on Friday, November 17th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and thirty have issued a buy rating to the company’s stock. Splunk has an average rating of “Buy” and an average price target of $84.59.
Several large investors have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Splunk by 4.2% in the fourth quarter. BlackRock Inc. now owns 7,517,442 shares of the software company’s stock worth $622,742,000 after purchasing an additional 302,410 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of Splunk by 6.0% in the fourth quarter. Clearbridge Investments LLC now owns 4,638,701 shares of the software company’s stock worth $384,270,000 after purchasing an additional 263,130 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Splunk by 9.3% in the third quarter. JPMorgan Chase & Co. now owns 4,593,033 shares of the software company’s stock worth $308,053,000 after purchasing an additional 389,565 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Splunk by 6.5% in the third quarter. Bank of New York Mellon Corp now owns 4,196,508 shares of the software company’s stock worth $278,773,000 after purchasing an additional 254,505 shares during the last quarter. Finally, Carmignac Gestion purchased a new position in shares of Splunk in the third quarter worth about $198,193,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.
Shares of Splunk (NASDAQ SPLK) traded up $1.91 during mid-day trading on Friday, reaching $95.12. The company had a trading volume of 620,400 shares, compared to its average volume of 1,491,446. Splunk has a 12 month low of $54.17 and a 12 month high of $97.27. The company has a market capitalization of $13,290.00, a P/E ratio of -42.31 and a beta of 2.04.
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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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