In the latest trading session, 6.63 million Splunk Inc. (NASDAQ:SPLK) shares changed hands as the company’s beta touched 1.23. With the company’s most recent per share price at $141.06 changing hands around $15.57 or 12.41% at last look, the market valuation stands at $20.12B. SPLK’s current price is a discount, trading about -60.14% off its 52-week high of $225.89. The share price had its 52-week low at $110.28, which suggests the last value was 21.82% up since then. When we look at Splunk Inc.’s average trading volume, we note the 10-day average is 2.59 million shares, with the 3-month average coming to 2.30 million.
Analysts gave the Splunk Inc. (SPLK) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.20. If we narrow down to specifics, the data shows that 0 out of 36 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 14 recommended SPLK as a Hold, 20 felt it is a Buy and 0 rated the stock as Underweight. Splunk Inc.’s EPS for the current quarter is expected to be -$0.68.
Splunk Inc. (NASDAQ:SPLK) trade information
Instantly SPLK is in green as seen in intraday trades today. With action 2.53%, the performance over the past five days has been green. The jump to weekly highs of 143.33 on Monday, 06/21/21 added 12.41% to the stock’s daily price. The company’s shares are showing year-to-date downside of -26.13%, with the 5-day performance at 2.53% in the green. However, in the 30-day time frame, Splunk Inc. (NASDAQ:SPLK) is 7.94% up. Looking at the short shares, we see there were 5.83 million shares sold at short interest cover period of 2.84 days.
The consensus price target for the stock as assigned by Wall Street analysts is $166.02, meaning bulls need an upside of 15.03% from its recent market value. According to analyst projections, SPLK’s forecast low is $125.00 with $225.00 as the target high. To hit the forecast high, the stock’s price needs a -59.51% plunge from its current level, while the stock would need to tank 11.39% for it to hit the projected low.
Splunk Inc. (SPLK) estimates and forecasts
Data shows that the Splunk Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -24.52% over the past 6 months, a -172.73% in annual growth rate that is considerably lower than the industry average of 2.80%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Splunk Inc. will fall -106.10%, while the growth in revenue is estimated to hit -300.00% for the next quarter. Year-over-year growth is forecast to reach 13.50% up from the last financial year.
Consensus estimates given by 29 financial analysts project the company’s revenue in the current quarter to hit an average of $562.72 million. 28 analysts are of the opinion that Splunk Inc.’s revenue for the quarter ending Oct 2021 will be $638.59 million.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -20.90%. The 2021 estimates are for Splunk Inc. earnings to decrease by -156.50%.
Splunk Inc. is expected to release its next quarterly earnings report in July.
Splunk Inc. (NASDAQ:SPLK)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.34% of Splunk Inc. shares while 90.44% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 90.75%. There are 90.44% institutions holding the Splunk Inc. stock share, with Price (T.Rowe) Associates Inc the top institutional holder. As of Mar 30, 2021, the company held 14.60% of the shares, roughly 23.94 million SPLK shares worth $3.24 billion.
Vanguard Group, Inc. (The) holds the second largest percentage of outstanding shares, with 8.85% or 14.51 million shares worth $1.97 billion as of Mar 30, 2021.
Among Mutual Funds, the top two as of Mar 30, 2021 were Vanguard Total Stock Market Index Fund and Price (T.Rowe) Growth Stock Fund Inc. With 4.56 million shares estimated at $618.4 million under it, the former controlled 2.78% of total outstanding shares. On the other hand, Price (T.Rowe) Growth Stock Fund Inc. held about 2.49% of the shares, roughly 4.08 million shares worth around $552.63 million.