MILWAUKEE, Dec. 4, 2020 /PRNewswire/ -- Ademi LLP is investigating possible securities fraud claims against Splunk (NASDAQ: SPLK) resulting from inaccurate statements Splunk made regarding its financial statements and prospects.
Click here to learn more about the investigation: http://ademilaw.com/case/splunk-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
The investigation focuses on whether Splunk issued false and misleading statements regarding its financial statements and prospects during 2020. Specifically, Splunk's third quarter results and management's guidance for fourth quarter were below analysts' expectations. Revenue for the third quarter was $559 million, down 11% compared to last year. Analysts were expecting revenue of approximately $613 million. Splunk also reported an adjusted loss per share of $1.26, shockingly lower than the $0.09 per share in profit analysts had been predicting. BTIG stated that Splunk's explanation for these dismal financial results was "confusing given that most peers in the software space (and particularly in security software) saw relatively strong trends" in the quarter. Most analysts downgraded Splunk, with JPMorgan stating that it was "blindsided by the magnitude of too many large deals slipping in the final days of October."
If you wish to obtain additional information or have information about this investigation of Splunk, please contact Guri Ademi either at firstname.lastname@example.org or toll-free: 866-264-3995, http://ademilaw.com/case/splunk-inc.
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SOURCE Ademi LLP