The trading price of Splunk Inc. (NASDAQ:SPLK) closed higher on Tuesday, July 20, closing at $137.87, 2.86% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $133.17 and $138.54. In examining the 52-week price action we see that the stock hit a 52-week high of $225.89 and a 52-week low of $110.28. Over the past month, the stock has gained 6.80% in value.
Splunk Inc., whose market valuation is $22.46 billion at the time of this writing, is expected to release its quarterly earnings report Aug 24, 2021 – Aug 30, 2021. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.69 per share this quarter, however they have predicted annual earnings per share of -$1.5 for 2022 and -$0.51 for 2023. It means analysts are expecting annual earnings per share growth of -172.70% this year and 66.00% next year.
Analysts have forecast the company to bring in revenue of $562.72 million for the current quarter, with the likely lows of $551.6 million and highs of $573.76 million. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2022 is $2.53 billion. The company’s revenue is forecast to grow by 13.70% over what it did in 2022.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Splunk Inc. No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest SPLK has a Hold on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Sell, while an average of long term indicators suggests that the stock is currently 50% Sell.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned SPLK a recommendation rating is 36. Out of them, 13 rate it a Hold, while 21 recommend Buy, whereas 2 assign an Overweight rating. 0 analyst(s) have tagged Splunk Inc. (SPLK) as Underweight, while 0 advise Sell. Analysts have rated the stock Overweight, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that SPLK’s price is currently -0.36% off the SMA20 and 9.03% off the SMA50. The RSI metric on the 14-day chart is currently showing 57.00, and weekly volatility stands at 2.73%. When measured over the past 30 days, the indicator reaches 2.61%. Splunk Inc. (NASDAQ:SPLK)’s beta value is currently sitting at 1.22, while the Average True Range indicator is currently displaying 3.96. With analysts defining $133.00-$225.00 as the low and high price targets, we arrive at a consensus price target of $168.54 for the trailing 12-month period. The current price is about 3.53% off the estimated low and -63.2% off the forecast high, based on this estimate. Investors will be thrilled if SPLK’s share price rises to $165.60, which is the median consensus price. At that level, SPLK’s share price would be -20.11% below current price.
To see how Splunk Inc. stock has been performing in comparison to its peers in the industry, here are the numbers: SPLK stock’s performance was 2.86% in the latest trading, and -33.61% in the past year, while Teradata Corporation (TDC) has traded 3.09% on the day and positioned 131.70% higher than it was a year ago. Another comparable company MicroStrategy Incorporated (MSTR) saw its stock close 0.61% higher in the most recent trading session but was up 316.38% in a year. Furthermore, International Business Machines Corporation (IBM) showed an increase of 1.49% on the day while its price kept inclining at 10.76% over the past year. Splunk Inc. has a P/E ratio of 0, compared to Teradata Corporation’s 432.50 and MicroStrategy Incorporated’s 0. Also in last trading session, the S&P 500 Index has surged 1.52%, while the Dow Jones Industrial also saw a positive session, up 1.62% on the day.
An evaluation of the daily trading volume of Splunk Inc. (NASDAQ:SPLK) indicates that the 3-month average is 2.44 million. However, this figure has increased over the past 10 days to an average of 1.78 million.
Currently, records show that 163.17 million of the company’s shares remain outstanding. The insiders hold 0.60% of outstanding shares, whereas institutions hold 90.10%. The stats also highlight that short interest as of May 27, 2021, stood at 5.83 million shares, resulting in a short ratio of 2.84 at that time. From this, we can conclude that short interest is 3.56% of the company’s total outstanding shares. It is noteworthy that short shares in May were down slightly from the previous month’s figure, which was 6.12 million. However, since the stock’s price has seen -18.85% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.