Splunk Inc SPLK has landed lots of new business in the fourth quarter and is likely to meet expectations, an analyst said Monday.
The so-called "big data" software company is slated to post results Thursday and changed hands recently at $68.68, down $0.26.
Splunk shares are up about 2.6 percent in the past three months, versus about 5.2 percent for the Nasdaq Composite Index.
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JPMorgan's director and senior research analyst Gregory McDowell said the company, which has yet to post a net profit, had "another strong quarter," especially in the federal sector, including a $1.7 million deal with the State Department inked January 30. Counting a $2.8 million contract McDowell believes got signed February 12 in the current first quarter, the analyst said Splunk's federal business is up by a factor of $6 million to $6.7 million, compared with the same period a year earlier.Is An Adjustment Forthcoming?
Analysts, on average, expect Splunk to post adjusted fourth-quarter profit of $0.04 cents a share, on revenue of $137.1 million.© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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