Splunk (SPLK) Stock Moves -0.75%: What You Should Know
In the latest trading session, Splunk (SPLK) closed at $142.22, marking a -0.75% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.08%.
Prior to today's trading, shares of the maker of software that helps companies collect and analyze internal data had gained 3.93% over the past month. This has outpaced the Computer and Technology sector's gain of 2.88% and the S&P 500's gain of 2.93% in that time.
Investors will be hoping for strength from SPLK as it approaches its next earnings release, which is expected to be August 25, 2021. In that report, analysts expect SPLK to post earnings of -$0.69 per share. This would mark a year-over-year decline of 109.09%. Our most recent consensus estimate is calling for quarterly revenue of $562.23 million, up 14.35% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.48 per share and revenue of $2.52 billion. These totals would mark changes of -169.09% and +12.85%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for SPLK. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. 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 208, which puts it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SPLK in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Splunk Inc. (SPLK) : Free Stock Analysis Report
To read this article on Zacks.com click here.
