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Splunk (SPLK) Surges: Stock Moves 9.3% Higher

Zacks Equity Research
Updated

Splunk Inc. SPLK was a big mover last session, as the company saw its shares rise more than 9% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company—as the stock is now up 14.2% in the past one-month time frame.

The move came after the company reported better-than-expected fiscal fourth-quarter 2018 results. It also announced a deal to acquire Phantom Cyber Corporation, a leader in Security Orchestration, Automation and Response (SOAR) technology, which will bring in a new age of analytics-driven security.

The company has seen three negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

Splunk currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is negative.

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Splunk Inc. Price

Splunk Inc. Price | Splunk Inc. Quote

Investors interested in the Internet – Software industry may consider Nice Systems Ltd. NICE, which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Is SPLK going up? Or down? Predict to see what others think:Up or Down

The Hottest Tech Mega-Trend of All

Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend >>


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Splunk Inc. (SPLK) : Free Stock Analysis Report
 
Nice Systems Ltd. (NICE) : Free Stock Analysis Report
 
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Zacks Investment Research