![]() ![]() ![]() SPLK has been glued to the $92 level, no higher than 6% above or below that price. While the stock is well off its lows, its struggling to break away from its 200-day moving average. But over the last two years, the stock fell to $65 before rallying to $110. Splunk was a cloud darling in 2020, hitting highs of $225. Additionally, Splunk has made cost-saving and operating leverage improvements. For next year we see a hike of 5%, with analysts lifting numbers from $3.14 to $3.30.Īnalysts that are bullish on the stock cite significant growth opportunities in the observability, cybersecurity, and core machine search markets. So to go along with the stock, there is a flatlining of the short-term earnings expectations.īut when we look to the current year, we see estimates have ticked 8% higher since earnings, going from $2.55 to $2.75. Over the last 7 days, we see numbers fall to $0.26 from $0.27. Over the last week analysts have lifted estimates a tick, going from -$0.12 to -$0.11.įor next quarter, we see a small tick down. While analysts dropped their numbers after the March earnings, we see a small tick higher for the current quarter. Short-term, we still see estimates headed in both directions. However, the stock has stabilized and it looks like investors are focusing on the long-term as the stocks sees estimates revised upwards for the current year. The numbers were disappointing and the stock sold off about 15% in the week after the earnings release. Splunk guided Q1 revenue at $710-$725M vs the $807M expected and guided FY24 revenues at $3.85-3.9B vs the $4.02B. The company also beat on the top line, but issued weak guidance. Splunk reported earnings in early March, seeing an 84% surprise to the upside. The Forward PE is 33 and the stock pays no dividend. The stock has a Zacks Style Score of “A” in Growth, but “F” in Value. Revenues stem from the sale of software licenses, cloud subscriptions, and maintenance and support. Splunk has a focus in two markets: Security and full-stack monitoring & analysis. It employs 8,000 and has a market cap of $15.3 billion. The company incorporated in 2003 and is headquartered in San Francisco, California. Investors seem to have accepted the current market price for the stock as they wait for the next catalyst. ![]() Splunk is now consolidating in a sideways trade since pulling back after a big earnings beat. The stock looks to have bottomed, almost doubling off its 2021 lows from October. However, the market became saturated and the cloud bubble popped, bringing Splunk shares down over 70% in two years. The stock was a high-flyer back in 2020 as cloud-based stocks were the hot new thing. Splunk ( SPLK Quick Quote SPLK - Free Report) is a Zacks Rank #1 (Strong Buy) that develops and markets cloud services and licensed software solutions. ![]()
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