Splunk falls as revenue forecasts below expectations

Splunk

02/03/2023 13:59

** Shares of data analytics software maker Splunk Inc
 SPLK.O  down 6.1% at $96.22 premarket
    ** Stock on track to open at its lowest in more than a
month, if losses hold
    ** Sees Q1 FY24 total rev in range of $710 mln to $725 mln,
below analysts' consensus expectations of $748.2 mln - Refinitiv
    ** SPLK's FY24 total rev guidance range of $3.85 bln to $3.9
bln also below Street estimates of $3.93 bln
    ** "We have experienced increased scrutiny and new deals and
expansions as well as delayed cloud migrations and expansions
... we're going to be prudent in our outlook to reflect this" -
CFO Brian Keith Roberts
    ** Reports Q4 rev of $1.25 bln vs est. of $1.1 bln, adj EPS
of $2.04 vs est. of $1.15
    ** Post results, Mizuho reduced its PT on stock to $110 from
$115, while four brokerages raised their PTs
    ** Up to last close, stock had risen 19.04% YTD, dropped
25.6% in 2022

 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com;))