Splunk Shares Up 6% on Q4 Beat & Better Than Expected Guidance
<p><a href='https://financialmodelingprep.com/financial-summary/SPLK'>Splunk Inc. (NASDAQ:SPLK) </a>shares closed 6% higher on Thursday following the company’s reported Q4 beat. EPS and revenue came in at $0.66 and $901 million, compared to the consensus estimates of ($0.19) and $777.28 million, respectively.</p>
<p>According to the analysts at Oppenheimer, the company is close to completing its model transition, with management expecting a normalization in top-line results and an acceleration in growth in 2023. The company expects Q1/23 revenue in the range of $615-635 million, compared to the consensus estimate of $609.8 million. For the full 2023-year, the company expects revenue in the range of $3.25-3.3 billion, compared to the consensus estimate of $3.01 billion.</p>
<p>While the analysts anticipate some near-term margin pressure as Cloud becomes a larger part of the mix, they are encouraged by the company's strong execution. Coupled with a large upcoming $1.5 billion renewal base in 2023, the analysts believe the company can achieve its 70% cloud bookings and $2 billion Cloud ARR target in 2023. </p>

NASDAQ:SPLK