Stock Alert: Splunk Down 5% As Outlook Lower Than Estimates

(RTTNews) - Shares of Splunk Inc. (SPLK) are currently losing 5% on Thursday morning after the company issued a revenue outlook for the first quarter and full year 2021 that is lower than Wall Street estimates.

For the first quarter of 2021, the company currently expects revenues of about $450 million, compared with Thomson Reuters' consensus analyst forecast of $526.7 million.

For fiscal year 2021, Splunk expects revenues of $2.6 billion, short of analysts' estimate of $2.88 billion.

Splunk Wednesday posted fourth-quarter sales of $791 million, up 27% from a year earlier. Net loss for the quarter was $22.7 million or $0.15 per share, compared with last year's net income of $2.1 million or $0.01 per share.

SPLK is currently trading at $148.14, down $7.59 or 4.73%, on the Nasdaq.