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Splunk Inc. (NASDAQ: SPLK) Fell -33.8%, Predicting What To Expect In The Near Future

During the recent session, Splunk Inc. (NASDAQ:SPLK)’s traded shares were 2.48 million, with the beta value of the company hitting 1.27. At the last check today, the stock’s price was $100.90, reflecting an intraday gain of 4.35% or $4.21. The 52-week high for the SPLK share is $116.84, that puts it down -15.8 from that peak though still a striking 35.58% gain since the share price plummeted to a 52-week low of $65.00. The company’s market capitalization is $16.09B, and the average intraday trading volume over the past 10 days was 1.4 million shares, and the average trade volume was 1.43 million shares over the past three months.

Splunk Inc. (SPLK) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.20. SPLK has a Sell rating from 0 analyst(s) out of 39 analysts who have looked at this stock. 15 analyst(s) recommend to Hold the stock while 4 suggest Overweight, and 20 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.32.

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Splunk Inc. (NASDAQ:SPLK) trade information

Splunk Inc. (SPLK) registered a 4.35% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 4.35% in intraday trading to $100.90 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is 4.33%, and it has moved by 16.78% in 30 days. Based on these gigs, the overall price performance for the year is 13.66%. The short interest in Splunk Inc. (NASDAQ:SPLK) is 4.58 million shares and it means that shorts have 4.54 day(s) to cover.

The consensus price target of analysts on Wall Street is $119.27, which implies an increase of 15.4% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $86.00 and $135.00 respectively. As a result, SPLK is trading at a discount of -33.8% off the target high and 14.77% off the low.

Splunk Inc. (SPLK) estimates and forecasts

Statistics show that Splunk Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Splunk Inc. (SPLK) shares have gone up 30.46% during the last six months, with a year-to-date growth rate less than the industry average at 2.97% against 15.50. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 255.60% this quarter and then drop -1.20% in the quarter after that. In the rating firms’ projections, revenue will increase 6.50% compared to the previous financial year.

Revenue for the current quarter is expected to be $870.64 million as predicted by 29 analyst(s). Meanwhile, a consensus of 29 analyst(s) estimates revenue growth to $995.57 million by the end of Oct 2023.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -4.70%. While earnings are projected to return 79.30% in 2023, the next five years will return 21.60% per annum.

SPLK Dividends

Splunk Inc. is due to release its next quarterly earnings on May 24. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Splunk Inc. (NASDAQ:SPLK)’s Major holders

Splunk Inc. insiders own 0.64% of total outstanding shares while institutional holders control 88.85%, with the float percentage being 89.43%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 935 institutions own stock in it. As of Mar 30, 2023, the company held over 16.25 million shares (or 9.82% of all shares), a total value of $1.56 billion in shares.

The next largest institutional holding, with 12.8 million shares, is of H&f Corporate Investors X, Ltd.’s that is approximately 7.73% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $1.23 billion.

Also, the Mutual Funds coming in first place with the largest holdings of Splunk Inc. (SPLK) shares are Vanguard Total Stock Market Index Fund and Vanguard/Primecap Fund. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 4.94 million shares. This amounts to just over 2.99 percent of the company’s overall shares, with a $425.56 million market value. The same data shows that the other fund manager holds slightly less at 3.93 million, or about 2.37% of the stock, which is worth about $338.05 million.

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