Splunk closed at $96.23 in the latest trading session, marking a -0.5% move from the prior day. This change lagged the S&P 500's daily loss of 0.15%. At the same time, the Dow lost 0.33%, and the tech-heavy Nasdaq lost 3.33%.
Heading into today, shares of the maker of software that helps companies collect and analyze internal data had gained 5.89% over the past month, lagging the Computer and Technology sector's gain of 6.56% and outpacing the S&P 500's gain of 1.21% in that time.
Wall Street will be looking for positivity from Splunk as it approaches its next earnings report date. This is expected to be May 24, 2023. In that report, analysts expect Splunk to post earnings of -$0.17 per share. This would mark year-over-year growth of 46.88%. Our most recent consensus estimate is calling for quarterly revenue of $719.02 million, up 6.67% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.77 per share and revenue of $3.88 billion. These totals would mark changes of +2.97% and +6.06%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Splunk. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Splunk is currently a Zacks Rank #3 (Hold).
Digging into valuation, Splunk currently has a Forward P/E ratio of 34.89. For comparison, its industry has an average Forward P/E of 39, which means Splunk is trading at a discount to the group.
Meanwhile, SPLK's PEG ratio is currently 1.45. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. SPLK's industry had an average PEG ratio of 1.51 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 109, putting it in the top 44% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Splunk (SPLK) Dips More Than Broader Markets: What You Should Know
Splunk closed at $96.23 in the latest trading session, marking a -0.5% move from the prior day. This change lagged the S&P 500's daily loss of 0.15%. At the same time, the Dow lost 0.33%, and the tech-heavy Nasdaq lost 3.33%.
Heading into today, shares of the maker of software that helps companies collect and analyze internal data had gained 5.89% over the past month, lagging the Computer and Technology sector's gain of 6.56% and outpacing the S&P 500's gain of 1.21% in that time.
Wall Street will be looking for positivity from Splunk as it approaches its next earnings report date. This is expected to be May 24, 2023. In that report, analysts expect Splunk to post earnings of -$0.17 per share. This would mark year-over-year growth of 46.88%. Our most recent consensus estimate is calling for quarterly revenue of $719.02 million, up 6.67% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.77 per share and revenue of $3.88 billion. These totals would mark changes of +2.97% and +6.06%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Splunk. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Splunk is currently a Zacks Rank #3 (Hold).
Digging into valuation, Splunk currently has a Forward P/E ratio of 34.89. For comparison, its industry has an average Forward P/E of 39, which means Splunk is trading at a discount to the group.
Meanwhile, SPLK's PEG ratio is currently 1.45. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. SPLK's industry had an average PEG ratio of 1.51 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 109, putting it in the top 44% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.