The headline numbers didn't appear to be that great, but Splunk's (NASDAQ: SPLK) shareholders have a lot to be happy about after the start to 2020. For Splunk, which recently surpassed IBM (NYSE: IBM) as the market share leader in IT performance analysis, work-from-home and shelter-in-place mean more fuel just got added to its growth engine. Splunk's Q1 results came in as expected, with its cloud transition taking basic revenue growth down to a meager low single-digit rate.
Splunk's (SPLK) first-quarter fiscal 2021 results reflect growth in cloud and software revenues and customer base expansion.
SaaS stocks are at it again, and I think I've got it figured it out. Today, Friday the 21st of May, the day after the economy shed another 2.4 million jobs, bringing the COVID-19 jobs-lost tally to nearly 40 million, SaaS and cloud stocks reached yet another all-time high, as measured by the Bessemer cloud index.
The Dow Jones Industrial Average showed a moderate loss heading into the three-day Memorial Day weekend. Alibaba fell, Splunk surged.
Software developer Splunk saw its Relative Strength Rating hit the elite 90-plus level on Tuesday. The stock is currently in a buy range.
Companies In The News Are: TTWO, XERS, SPLK, NAVB
Palo Alto and Moderna jumped, as stocks slipped on tension rose in China. Oil stocks led declines on the Dow Jones today.
Image source: The Motley Fool. Splunk Inc (NASDAQ: SPLK)Q1 2021 Earnings CallMay 21, 2020, 4:30 p.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: OperatorLadies and gentlemen, thank you for standing by, and welcome to the Splunk First Quarter 2021 Conference Call.
Splunk stock rose in after-hours trading as the data analytics company reported first-quarter results that missed on revenue and barely beat on earnings. Its revenue outlook fell short.
The software firm missed on sales, but Wall Street focused on a big jump in cloud services revenue.
The coronavirus market rally kept running this week on vaccine hopes despite weakness in Alibaba and other China stocks. Nvidia, Walmart, Target and Splunk were key earnings reports.
Splunk Inc. (NASDAQ: SPLK), provider of the Data-to-Everything Platform, today announced the latest enhancements to Splunk Cloud, Splunk Data Stream Processor (DSP) and Splunk Connected Experiences that enables customers to bring a broader variety of data to every decision, question and action. These improvements strengthen the foundational technologies of the Splunk platform and extend its cloud and machine learning (ML) capabilities.
These aren't short-term speculations to feed frenzied traders. These are long-term convictions for steady shareholder returns.
Futures pared losses as Dr. Anthony Fauci said Moderna vaccine data was hopeful. Despite Thursday's fall, the market rally is up solidly this week. Alibaba and Nvidia earnings easily beat.
Last week Jim Cramer favored Splunk Inc. , an analytics company that reported earnings last week and can actually make a forecast despite Covid-19 and the work-from-home movement. In the daily bar chart of SPLK, below, we can see that the shares made a swift decline from February into March but have since climbed to a new high. The daily On-Balance-Volume (OBV) line made a modest decline in February and March and now stands at a new high for the move up.
Shares of Splunk (NASDAQ: SPLK) have soared to record highs today, up by 13% as of 11:50 a.m. EDT, after the company reported first-quarter earnings. The results were mixed compared to consensus estimates. Annual recurring revenue (ARR) increased 52% to $1.78 billion as Splunk continues its shift to a subscription model.
Splunk (SPLK) delivered earnings and revenue surprises of 1.75% and -2.33%, respectively, for the quarter ended April 2020. Do the numbers hold clues to what lies ahead for the stock?
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Its migration to the cloud business is boosting its operations, but it's trading at more than 11x forward sales.
Q1 2021 Splunk Inc Earnings Call