Splunk (SPLK) PT Lowered to $97 at Stifel

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Go back to Splunk (SPLK) PT Lowered to $97 at Stifel

Splunk (SPLK) may be looking to attract buyer says analyst after blowout earnings

December 1, 2022 8:04 AM EST

Shares of Splunk (NASDAQ: SPLK) are trading nearly 8% up in pre-open Thursday after the company raised its forecast.

Splunk posted an adjusted EPS of $0.83 on revenue of $930 million, crushing estimates of earnings of $0.25 on revenue of $847.7M. Revenue soared 40% year-over-year, driven by a strong outperformance of License and Cloud business segments (both up 54% YoY). The adjusted gross margin came in at 82%, easily ahead of the 78% consensus.

For the fourth quarter, the company... More