![]() Arista has a long-term earnings growth expectation of 20.4% and delivered an earnings surprise of 12%, on average, in the trailing four quarters. ![]() The company has a software-driven, data-centric approach to help customers build their cloud architecture and enhance their cloud experience. ( ANET Quick Quote ANET - Free Report), carrying a Zacks Rank #2, is likely to benefit from strong momentum and diversification across its top verticals and product lines. Headquartered in Melville, NY, the company is a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies to commercial and government customers.Ĭomtech’s key satellite earth station modems incorporate forward error correction and bandwidth compression technologies, which enable its customers to optimize their satellite networks by either reducing their satellite transponder lease costs or increasing data.Īrista Networks, Inc. ( CMTL Quick Quote CMTL - Free Report), carrying a Zacks Rank #2 (Buy), is a solid pick. Key PicksĬomtech Telecommunications Corp. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Splunk currently carries a Zacks Rank #3 (Hold). As of Oct 31, 2023, the company had $928 million in cash and cash equivalents with $3,104.9 million in long-term debt. Cash Flow & Liquidityĭuring the first nine months of fiscal 2024, Splunk generated $587 million net cash from operating activities compared with $173.6 million in the year-ago period. Non-GAAP operating income aggregated $331.6 million compared with $198.4 million in the prior-year period, with respective margins of 31.1% and 21.3%. Non-GAAP gross margin from cloud services reached an all-time high of 74.6%, surpassing management’s expectations. Gross profit increased to $857.4 million from $728 million in the prior-year quarter. ![]() Cloud ARR increased 26% year over year to $2 billion. The company had 851 customers with an ARR of more than $1 million at the end of the third quarter. Total ARR was $4 billion, up 15% year over year. Net sales from Maintenance and services decreased to $172.2 million from $168.6 million in the year-ago quarter. License revenues were $429.4 million, up from $383.6 million. The uptick was propelled by rising demand for its cloud services. Backed by its enterprise scale and unified product portfolio, Splunk witnessed significant customer additions and several project wins in the public and private sectors.Ĭloud services revenues rose to $469.4 million from $374 million in the year-ago quarter. The revenue growth was driven by positive demand trends in cloud services, cybersecurity and observability domains. The top line surpassed the consensus estimate of $1,028 million. Total revenues in third-quarter fiscal 2024 increased to $1,067.4 million from $929.8 million in the prior year. price-consensus-eps-surprise-chart | Splunk Inc.
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