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Weakness seen in Splunk (SPLK): Stock Plunges 16.4%

Zacks Equity Research

Splunk, Inc. (SPLK) saw a big move in the last trading session, as the company’s shares fell by over 16% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading below the volatile price range of $43.60 to $54.87 in the past one-month time frame.

The software solutions provider has not seen any estimate revision over the past month, and the current year earnings consensus hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, especially on earnings estimates following the recent slump.

SPLK currently holds a Zacks Rank #3 (Hold).

Investors interested in the Internet Software industry may consider better-ranked stocks like Cvent, Inc. (CVT), Support.com, Inc. (SPRT) and TeleCommunication Systems Inc. (TSYS), each carrying a Zacks Rank #1 (Strong Buy).
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SPLUNK INC (SPLK): Free Stock Analysis Report

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