Splunk (SPLK) in Focus: Stock Adds 5.9% in Session
Splunk, Inc. (SPLK) was a big mover last session with shares rising nearly 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent downtrend of the company, as the stock has lost nearly 28% since March 18.
This software solution provider has seen no estimate revisions in the last 30 days. However, the Zacks Consensus Estimate has moved higher over the same period. This implies solid trading potential for the company. So make sure to keep an eye on this stock going forward to see if yesterday’s rally can turn into more strength down the road.
Splunk currently holds a Zacks Rank #5 (Strong Sell) while its Earnings ESP is negative.
Investors interested in the Internet software industry may consider better-ranked stocks like j2 Global, Inc. (JCOM), Model N, Inc. (MODN) and Support.com, Inc. (SPRT). All three stocks sport a Zacks Rank #1 (Strong Buy).
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SPLUNK INC (SPLK): Free Stock Analysis Report
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