Wall Street analysts expect Splunk Inc (NASDAQ:SPLK) to report $432.27 million in sales for the current quarter, Zacks Investment Research reports. Fourteen analysts have issued estimates for Splunk’s earnings. The lowest sales estimate is $423.53 million and the highest is $443.00 million. Splunk reported sales of $328.65 million during the same quarter last year, which indicates a positive year-over-year growth rate of 31.5%. The firm is expected to report its next quarterly earnings results on Thursday, November 15th.

On average, analysts expect that Splunk will report full-year sales of $1.68 billion for the current fiscal year, with estimates ranging from $1.64 billion to $1.71 billion. For the next fiscal year, analysts forecast that the company will report sales of $2.08 billion per share, with estimates ranging from $2.01 billion to $2.17 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Splunk.

Splunk (NASDAQ:SPLK) last released its quarterly earnings data on Thursday, August 23rd. The software company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Splunk had a negative return on equity of 26.44% and a negative net margin of 20.55%. The firm had revenue of $388.30 million for the quarter, compared to the consensus estimate of $358.46 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. The firm’s revenue was up 38.6% on a year-over-year basis.

SPLK has been the topic of a number of research reports. BMO Capital Markets increased their price objective on Splunk from $112.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, May 25th. Jefferies Financial Group increased their price objective on Splunk to $136.00 and gave the stock a “buy” rating in a report on Friday, May 25th. FIG Partners restated an “overweight” rating and issued a $127.00 price objective on shares of Splunk in a report on Friday, May 25th. BTIG Research increased their price objective on Splunk to $130.00 and gave the stock a “buy” rating in a report on Friday, May 25th. Finally, Deutsche Bank increased their price objective on Splunk from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, May 25th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $121.43.

In other news, insider Douglas Merritt sold 23,572 shares of the stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $124.58, for a total value of $2,936,599.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark T. Carges sold 2,091 shares of the stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $124.87, for a total value of $261,103.17. Following the completion of the sale, the director now directly owns 19,444 shares of the company’s stock, valued at $2,427,972.28. The disclosure for this sale can be found here. Insiders sold 69,032 shares of company stock valued at $8,640,864 over the last three months. 0.36% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Splunk by 3.8% in the second quarter. BlackRock Inc. now owns 8,074,220 shares of the software company’s stock valued at $800,235,000 after acquiring an additional 298,117 shares during the period. Federated Investors Inc. PA boosted its position in shares of Splunk by 5.2% in the first quarter. Federated Investors Inc. PA now owns 2,005,140 shares of the software company’s stock valued at $197,286,000 after acquiring an additional 99,354 shares during the period. FMR LLC boosted its position in shares of Splunk by 3.6% in the second quarter. FMR LLC now owns 1,592,052 shares of the software company’s stock valued at $157,789,000 after acquiring an additional 54,789 shares during the period. Whale Rock Capital Management LLC bought a new stake in shares of Splunk in the first quarter valued at approximately $141,945,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Splunk by 16.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,074,978 shares of the software company’s stock valued at $106,541,000 after acquiring an additional 149,894 shares during the period. 90.17% of the stock is owned by institutional investors.

NASDAQ:SPLK traded up $0.74 during mid-day trading on Tuesday, reaching $116.40. The stock had a trading volume of 2,787,000 shares, compared to its average volume of 1,868,555. Splunk has a fifty-two week low of $62.39 and a fifty-two week high of $130.00. The company has a market capitalization of $16.74 billion, a P/E ratio of -89.13 and a beta of 2.08.

About Splunk

Splunk Inc provides software solutions that enable organizations to gain real-time operational intelligence in the United States and internationally. Its products enable users to collect, index, search, explore, monitor, correlate, and analyze data regardless of format or source. The company offers Splunk Enterprise, a machine data platform with collection, indexing, search, reporting, analysis, alerting, monitoring, and data management capabilities; and Splunk Cloud.

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