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Splunk (SPLK) Stock Sinks As Market Gains: What You Should Know

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Splunk (SPLK) closed the most recent trading day at $123.94, moving -0.82% from the previous trading session. This change lagged the S&P 500's daily gain of 1.58%. Elsewhere, the Dow gained 1.22%, while the tech-heavy Nasdaq added 0.46%.

Prior to today's trading, shares of the maker of software that helps companies collect and analyze internal data had gained 1.92% over the past month. This has outpaced the Computer and Technology sector's loss of 7.6% and the S&P 500's loss of 5.54% in that time.

Wall Street will be looking for positivity from Splunk as it approaches its next earnings report date. This is expected to be March 2, 2022. The company is expected to report EPS of -$0.19, down 150% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $773.88 million, up 3.87% from the year-ago period.

Any recent changes to analyst estimates for Splunk should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Splunk is currently a Zacks Rank #3 (Hold).

The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 161, putting it in the bottom 37% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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