Splunk (NASDAQ:SPLK) Issues Quarterly Earnings Results

Splunk (NASDAQ:SPLK) announced its quarterly earnings results on Wednesday. The software company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.51) by $0.16, Morningstar.com reports. Splunk had a negative return on equity of 12.69% and a negative net margin of 15.16%. The company had revenue of $516.56 million for the quarter, compared to the consensus estimate of $488.97 million. During the same period last year, the firm earned $0.08 EPS. The firm’s revenue for the quarter was up 33.0% compared to the same quarter last year. Splunk updated its Q3 2020 guidance to EPS and its FY 2020 guidance to EPS.

SPLK stock opened at $118.56 on Friday. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 1.29. Splunk has a 12 month low of $83.69 and a 12 month high of $143.70. The firm has a 50-day moving average of $131.97 and a two-hundred day moving average of $128.86.

In other news, CEO Douglas Merritt sold 13,342 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $115.21, for a total transaction of $1,537,131.82. Following the completion of the sale, the chief executive officer now owns 296,211 shares in the company, valued at approximately $34,126,469.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ledger Susan St. sold 2,221 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $119.96, for a total transaction of $266,431.16. Following the sale, the insider now owns 235,094 shares of the company’s stock, valued at approximately $28,201,876.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,813 shares of company stock valued at $3,676,685. 0.34% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the stock. Cable Hill Partners LLC acquired a new stake in Splunk in the 1st quarter valued at approximately $25,000. Parkside Financial Bank & Trust purchased a new position in Splunk in the 2nd quarter valued at approximately $25,000. Motco purchased a new position in Splunk in the 2nd quarter valued at approximately $27,000. HM Payson & Co. purchased a new position in Splunk in the 2nd quarter valued at approximately $28,000. Finally, Manchester Financial Inc. purchased a new position in Splunk in the 2nd quarter valued at approximately $29,000. Hedge funds and other institutional investors own 92.38% of the company’s stock.

Several research firms have recently issued reports on SPLK. Piper Jaffray Companies reissued an “overweight” rating and set a $160.00 target price on shares of Splunk in a research note on Monday, June 24th. Northland Securities reissued a “buy” rating and set a $160.00 target price on shares of Splunk in a research note on Friday, May 24th. Guggenheim lowered their target price on shares of Splunk from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. Maxim Group reissued a “buy” rating and set a $148.00 target price (down from $159.00) on shares of Splunk in a research note on Monday, June 3rd. Finally, UBS Group lowered their target price on shares of Splunk from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have given a buy rating to the stock. Splunk has an average rating of “Buy” and an average price target of $143.45.

Splunk Company Profile

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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Earnings History for Splunk (NASDAQ:SPLK)

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