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Splunk’s stock performance and upcoming earnings report expectations

Splunk's stock performance and upcoming earnings report expectations
© Reuters.

Splunk (NASDAQ:) ended Wednesday at $147.16, marking a slight decrease of 0.03%. This performance contrasted with the broader market’s positive trend, with the S&P 500, Dow, and Nasdaq recording gains of 0.65%, 0.38%, and 0.48% respectively.

Despite Wednesday’s slight dip, Splunk has shown a commendable performance over the past month, registering a gain of 0.68%. This increase outperformed both the Computer and Technology sector and the S&P 500, indicating a robust position for the company in the market.

Looking forward, the company’s forthcoming earnings report is anticipated to display strong year-over-year growth. The report is expected to show an earnings per share (EPS) of $1.12, marking a significant 34.94% growth compared to the same period last year. Revenue is also predicted to rise by 10.61% year-on-year to reach $1.03 billion.

These projections align with recent revisions in analyst estimates that reflect optimism for Splunk’s short-term business trends and profitability prospects. The full-year earnings are forecasted by Zacks Consensus Estimates to be $3.78 per share on revenue of $3.94 billion.

InvestingPro Insights

InvestingPro’s real-time data and insights provide a deeper understanding of Splunk’s (NASDAQ:SPLK) current position and future potential. With a market capitalization of 24.81B USD, the company’s financial health is evident. The revenue growth of 26.47% over the last twelve months as of Q2 2024, and a gross profit margin of 78.53% further underscore this point. A notable metric is the 3-month price total return, which stands at a significant 37.28%, indicating strong recent performance.

In terms of InvestingPro Tips, Splunk has consistently increased its earnings per share, which aligns with the article’s mention of strong year-over-year growth in the forthcoming earnings report. Additionally, 32 analysts have revised their earnings upwards for the upcoming period, reflecting the market’s optimism about the company’s profitability prospects. However, it’s worth noting that the revenue growth has been slowing down recently, which investors should keep in mind.

InvestingPro offers a host of additional tips and insights for investors seeking to gain a competitive edge. The platform currently lists 13 more tips for Splunk, each providing a unique perspective on the company’s performance and outlook.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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