Splunk Inc. (SPLK) Issues Earnings Results, Beats Expectations By $0.04 EPS
Splunk Inc. (NASDAQ:SPLK) issued its quarterly earnings data on Tuesday. The software company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. The business had revenue of $245 million for the quarter, compared to analysts’ expectations of $230.36 million. Splunk had a negative return on equity of 38.45% and a negative net margin of 42.84%. The firm’s quarterly revenue was up 40.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 EPS.
Splunk (NASDAQ:SPLK) traded down 0.07% during trading on Tuesday, reaching $57.38. The company had a trading volume of 3,728,297 shares. The stock has a 50 day moving average price of $59.05 and a 200 day moving average price of $58.63. Splunk has a 52 week low of $29.85 and a 52 week high of $65.75. The firm’s market capitalization is $7.72 billion.
In related news, SVP Leonard R. Stein sold 1,075 shares of the company’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $60.00, for a total value of $64,500.00. Following the transaction, the senior vice president now directly owns 115,262 shares of the company’s stock, valued at approximately $6,915,720. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Douglas Merritt sold 6,155 shares of the company’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $58.10, for a total value of $357,605.50. Following the completion of the transaction, the insider now directly owns 164,117 shares in the company, valued at $9,535,197.70. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Winslow Capital Management LLC increased its position in Splunk by 488.5% in the second quarter. Winslow Capital Management LLC now owns 4,021,073 shares of the software company’s stock valued at $217,863,000 after buying an additional 3,337,773 shares during the last quarter. Price T Rowe Associates Inc. MD increased 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 valued at $307,903,000 after buying an additional 1,427,346 shares in the last quarter. 1832 Asset Management L.P. bought a new stake in shares of Splunk during the second quarter valued at $60,529,000. Artisan Partners Limited Partnership bought a new stake in shares of Splunk during the second quarter valued at $14,576,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Splunk during the second quarter valued at $12,982,000. 98.58% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on the company. JMP Securities set a $70.00 price objective on Splunk and gave the stock a “buy” rating in a report on Monday. Drexel Hamilton reissued a “buy” rating on shares of Splunk in a report on Monday. DA Davidson set a $83.00 price objective on Splunk and gave the stock a “buy” rating in a report on Thursday, November 24th. Wedbush reissued an “outperform” rating and set a $72.00 price objective on shares of Splunk in a report on Friday, November 11th. Finally, MKM Partners restated a “neutral” rating on shares of Splunk in a research note on Friday, November 4th. Ten research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price 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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