The most recent trading session ended with Splunk standing at $151.29, reflecting a +0.19% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily gain of 0.74%. Meanwhile, the Dow gained 0.58%, and the Nasdaq, a tech-heavy index, added 1.13%.
The investment community will be closely monitoring the performance of Splunk in its forthcoming earnings report. The company is scheduled to release its earnings on November 28, 2023. The company's earnings per share (EPS) are projected to be $1.12, reflecting a 34.94% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.03 billion, up 10.61% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.78 per share and revenue of $3.94 billion, which would represent changes of +40.52% and +7.86%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Splunk. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Splunk is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Splunk currently has a Forward P/E ratio of 39.99. This represents a premium compared to its industry's average Forward P/E of 35.63.
We can also see that SPLK currently has a PEG ratio of 1.35. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Internet - Software industry held an average PEG ratio of 1.59.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 43, which puts it in the top 18% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Splunk (SPLK) Gains But Lags Market: What You Should Know
The most recent trading session ended with Splunk standing at $151.29, reflecting a +0.19% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily gain of 0.74%. Meanwhile, the Dow gained 0.58%, and the Nasdaq, a tech-heavy index, added 1.13%.
The investment community will be closely monitoring the performance of Splunk in its forthcoming earnings report. The company is scheduled to release its earnings on November 28, 2023. The company's earnings per share (EPS) are projected to be $1.12, reflecting a 34.94% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.03 billion, up 10.61% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.78 per share and revenue of $3.94 billion, which would represent changes of +40.52% and +7.86%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Splunk. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Splunk is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Splunk currently has a Forward P/E ratio of 39.99. This represents a premium compared to its industry's average Forward P/E of 35.63.
We can also see that SPLK currently has a PEG ratio of 1.35. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Internet - Software industry held an average PEG ratio of 1.59.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 43, which puts it in the top 18% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.