Why Artificial Intelligence (AI) Stock Splunk Was Cruising Higher This Week
Business intelligence specialist (NASDAQ: SPLK) was doing well on the stock market in the last full trading week of August. According to data compiled by S&P Global Market Intelligence, as of Thursday market close, its share price was more than 16% higher week to date. This was due largely to a solid earnings report published by the company.
In its second quarter of fiscal 2024, Splunk's revenue totaled just under $910.6 million, which was 14% higher than that of the same period in 2023. Non-GAAP (adjusted) net income ballooned to nearly $135 million, or $0.71 per share, from the year-ago profit of less than $17 million.
Both headline figures crushed analyst estimates. On average, prognosticators following the stock were modeling barely over $889 million on the top line and only $0.46 per share for adjusted net income.
Source Fool.com
Splunk Inc. Stock
The stock is one of the favorites of our community with 24 Buy predictions and 1 Sell predictions.
As a result the target price of 147 € shows a slightly positive potential of 2.0% compared to the current price of 144.12 € for Splunk Inc..
