Why Splunk Inc. Stock Jumped 11.8% in August
Shares of Splunk Inc. (NASDAQ: SPLK) rose 11.8% in the month of August, according to data provided by S&P Global Market Intelligence, after the operational intelligence platform company delivered impressive fiscal second-quarter results.
The bulk of Splunk's gains last month came on Aug. 25 -- the first trading day after it announced that quarterly revenue had climbed a better-than-expected 31.6% year over year to $280 million and translated to adjusted net income of $11.5 million, or $0.08 per share. Splunk also confirmed adjusted operating margin was 5.2%.
For perspective, Splunk three months earlier had told investors to expect revenue of between $267 million and $269 million and adjusted operating margin of just 4%. This marked the company's 11th straight quarter of exceeding its own financial guidance.
Source: Fool.com
Splunk Inc. Stock
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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..
