Splunk (SPLK) Outpaces Stock Market Gains: What You Should Know
Splunk (SPLK) closed at $147.62 in the latest trading session, marking a +1.48% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.3%.
Prior to today's trading, shares of the maker of software that helps companies collect and analyze internal data had gained 9.33% over the past month. This has outpaced the Computer and Technology sector's gain of 1.76% and the S&P 500's gain of 1.89% in that time.
Wall Street will be looking for positivity from SPLK as it approaches its next earnings report date. This is expected to be August 25, 2021. The company is expected to report EPS of -$0.69, down 109.09% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $562.23 million, up 14.35% from the year-ago period.
SPLK's full-year Zacks Consensus Estimates are calling for earnings of -$1.48 per share and revenue of $2.52 billion. These results would represent year-over-year changes of -169.09% and +12.85%, respectively.
Investors might also notice recent changes to analyst estimates for SPLK. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. SPLK is currently a Zacks Rank #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 201, which puts it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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