Splunk Inc (NASDAQ:SPLK) Expected to Post Earnings of $0.53 Per Share

Brokerages expect that Splunk Inc (NASDAQ:SPLK) will announce earnings of $0.53 per share for the current quarter, Zacks Investment Research reports. Twelve analysts have provided estimates for Splunk’s earnings. The highest EPS estimate is $0.65 and the lowest is $0.45. Splunk reported earnings per share of $0.38 in the same quarter last year, which suggests a positive year-over-year growth rate of 39.5%. The firm is expected to announce its next quarterly earnings results after the market closes on Thursday, November 21st.

According to Zacks, analysts expect that Splunk will report full-year earnings of $1.85 per share for the current year, with EPS estimates ranging from $1.68 to $2.11. For the next year, analysts anticipate that the firm will report earnings of $2.30 per share, with EPS estimates ranging from $2.05 to $2.90. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Splunk.

Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Wednesday, August 21st. The software company reported ($0.35) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.51) by $0.16. Splunk had a negative return on equity of 12.73% and a negative net margin of 15.16%. The company had revenue of $516.56 million for the quarter, compared to analyst estimates of $488.97 million. During the same quarter in the previous year, the company earned $0.08 EPS. The firm’s revenue for the quarter was up 33.0% compared to the same quarter last year.

SPLK has been the topic of a number of analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $157.00 price target on shares of Splunk in a research note on Tuesday, October 8th. Credit Suisse Group dropped their price objective on Splunk from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, August 22nd. Needham & Company LLC cut their price objective on Splunk from $165.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $150.00 target price on shares of Splunk in a report on Thursday, November 14th. Finally, Cleveland Research lowered shares of Splunk from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-five have assigned a buy rating to the company. Splunk currently has an average rating of “Buy” and an average price target of $150.50.

In other news, CAO Timothy Emanuelson sold 549 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $124.94, for a total transaction of $68,592.06. Following the completion of the transaction, the chief accounting officer now directly owns 34,302 shares of the company’s stock, valued at approximately $4,285,691.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Douglas Merritt sold 13,341 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $115.20, for a total transaction of $1,536,883.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,906 shares of company stock valued at $3,187,086. 0.34% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its position in Splunk by 8.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 24,287,809 shares of the software company’s stock worth $3,054,191,000 after buying an additional 1,942,047 shares in the last quarter. Vanguard Group Inc. increased its position in Splunk by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 13,535,699 shares of the software company’s stock worth $1,702,114,000 after purchasing an additional 370,125 shares in the last quarter. Pictet Asset Management Ltd. raised its stake in Splunk by 8.4% in the 2nd quarter. Pictet Asset Management Ltd. now owns 2,815,854 shares of the software company’s stock valued at $354,094,000 after purchasing an additional 217,169 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Splunk by 19.9% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,688,527 shares of the software company’s stock valued at $199,010,000 after purchasing an additional 280,294 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Splunk by 7.1% in the 2nd quarter. Wells Fargo & Company MN now owns 1,404,517 shares of the software company’s stock valued at $176,618,000 after purchasing an additional 93,101 shares in the last quarter. 91.57% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SPLK stock traded up $2.15 during trading hours on Friday, reaching $126.81. 2,210,000 shares of the company’s stock were exchanged, compared to its average volume of 1,757,970. The company has a market cap of $18.04 billion, a P/E ratio of -79.75 and a beta of 2.03. The company’s 50 day moving average is $119.67 and its two-hundred day moving average is $123.28. Splunk has a 1 year low of $89.55 and a 1 year high of $143.70. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.06 and a quick ratio of 3.06.

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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