Splunk Inc. (SPLK) Issues Earnings Results
Splunk Inc. (NASDAQ:SPLK) issued its quarterly earnings data on Tuesday. The software company reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.04. Splunk had a negative net margin of 42.84% and a negative return on equity of 38.45%. The business earned $245 million during the quarter, compared to analysts’ expectations of $230.36 million. During the same period last year, the company posted $0.05 EPS. The company’s revenue was up 40.3% on a year-over-year basis.
Shares of Splunk (NASDAQ:SPLK) opened at 57.38 on Wednesday. The firm’s market capitalization is $7.72 billion. The stock has a 50 day moving average of $59.05 and a 200-day moving average of $58.63. Splunk has a 52 week low of $29.85 and a 52 week high of $65.75.
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In other news, SVP Leonard R. Stein sold 3,435 shares of the stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $58.64, for a total value of $201,428.40. Following the completion of the transaction, the senior vice president now owns 116,437 shares in the company, valued at approximately $6,827,865.68. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Godfrey Sullivan sold 128,750 shares of the stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $58.93, for a total transaction of $7,587,237.50. Following the completion of the transaction, the director now owns 440,426 shares of the company’s stock, valued at approximately $25,954,304.18. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. ETRADE Capital Management LLC boosted its position in shares of Splunk by 25.3% in the third quarter. ETRADE Capital Management LLC now owns 5,614 shares of the software company’s stock worth $329,000 after buying an additional 1,132 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Splunk by 37.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 5,247,157 shares of the software company’s stock worth $307,903,000 after buying an additional 1,427,346 shares during the period. Credit Suisse AG boosted its stake in shares of Splunk by 3.0% in the third quarter. Credit Suisse AG now owns 388,573 shares of the software company’s stock worth $22,802,000 after buying an additional 11,237 shares during the period. Salem Investment Counselors Inc. purchased a new stake in shares of Splunk during the third quarter worth about $210,000. Finally, Pioneer Investment Management Inc. purchased a new stake in shares of Splunk during the third quarter worth about $5,602,000. Institutional investors own 98.58% of the company’s stock.
A number of research analysts have recently weighed in on SPLK shares. Barclays PLC raised their price objective on shares of Splunk from $51.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Friday, August 26th. Stifel Nicolaus cut shares of Splunk from a “buy” rating to a “hold” rating in a research note on Friday, August 26th. They noted that the move was a valuation call. Drexel Hamilton reissued a “buy” rating and set a $90.00 price objective on shares of Splunk in a research note on Monday. Morgan Stanley raised their price objective on shares of Splunk from $58.00 to $74.00 and gave the stock an “overweight” rating in a research note on Monday, August 8th. Finally, Wedbush reissued an “outperform” rating and set a $72.00 price objective (up from $70.00) on shares of Splunk in a research note on Sunday, August 28th. Ten research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $66.88.
Splunk Company Profile
Splunk Inc is a provider of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. It operates through the development and marketing of software solutions segment, which enables its customers to gain real-time operational intelligence by harnessing the value of their data.
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