Splunk Inc. (SPLK) Posts Earnings Results, Beats Estimates By $0.04 EPS
Splunk Inc. (NASDAQ:SPLK) posted its quarterly earnings results on Tuesday. The software company reported $0.12 EPS for the quarter, beating the 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 had revenue of $245 million for the quarter, compared to analysts’ expectations of $230.36 million. During the same period in the previous year, the company posted $0.05 EPS. Splunk’s revenue was up 40.3% on a year-over-year basis.
Splunk (NASDAQ:SPLK) traded down 0.07% during midday trading on Tuesday, reaching $57.38. 3,691,142 shares of the company’s stock traded hands. The firm’s market cap is $7.72 billion. The stock’s 50 day moving average price is $59.05 and its 200 day moving average price is $58.63. Splunk has a 1-year low of $29.85 and a 1-year high of $65.75.
Several equities analysts have recently commented on the stock. Vetr upgraded shares of Splunk from a “sell” rating to a “buy” rating and set a $67.00 price target on the stock in a report on Tuesday, September 6th. Summit Redstone restated a “buy” rating and set a $72.00 price target on shares of Splunk in a report on Tuesday, September 6th. JMP Securities set a $70.00 price objective on shares of Splunk and gave the company a “buy” rating in a research note on Monday. Drexel Hamilton reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Splunk in a research note on Tuesday, August 23rd. Finally, Barclays PLC lifted their price objective on shares of Splunk from $51.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, August 26th. Ten research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $66.88.
In other Splunk news, insider Douglas Merritt sold 6,155 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $58.10, for a total transaction of $357,605.50. Following the sale, the insider now directly owns 164,117 shares of the company’s stock, valued at approximately $9,535,197.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Godfrey Sullivan sold 128,750 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $58.93, for a total transaction of $7,587,237.50. Following the sale, the director now directly owns 440,426 shares in the company, valued at $25,954,304.18. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.
A number of large investors have recently bought and sold shares of SPLK. State of Wisconsin Investment Board raised its stake in Splunk by 37.9% in the second quarter. State of Wisconsin Investment Board now owns 302,070 shares of the software company’s stock worth $16,366,000 after buying an additional 83,080 shares during the last quarter. Franklin Resources Inc. acquired a new stake in Splunk during the second quarter worth $5,570,000. Sei Investments Co. raised its stake in Splunk by 39.1% in the second quarter. Sei Investments Co. now owns 423,993 shares of the software company’s stock worth $22,972,000 after buying an additional 119,179 shares during the last quarter. Artisan Partners Limited Partnership acquired a new stake in Splunk during the second quarter worth $14,576,000. Finally, Alliancebernstein L.P. raised its stake in Splunk by 2.7% in the second quarter. Alliancebernstein L.P. now owns 83,249 shares of the software company’s stock worth $4,510,000 after buying an additional 2,170 shares during the last quarter. 98.58% of the stock is currently owned by hedge funds and other institutional investors.
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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