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Splunk (SPLK) Falls: Stock Drops 5.2% in Session
March 24, 2014
SPLK JCOM MODN
Splunk, Inc. ( SPLK - Snapshot Report) saw a big move in the last trading session, as the company’s shares fell by over 5% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent trend of the company, as the stock is now trading within the volatile price range of $95.50 to $84.57 in the past one-month time frame.
This slump shouldn’t be too much of a surprise to investors, as the company, a provider of software solutions, has seen 8 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
SPLK currently holds a Zacks Rank #5 (Strong Sell) while its Earnings ESP is 0.00%.
Investors interested in the Internet Software industry may consider better-ranked stocks like j2 Global, Inc. ( JCOM - Analyst Report) , Model N, Inc. ( MODN - Snapshot Report) and Constant Contact, Inc. . While j2 and Model N hold a Zacks Rank #1 (Strong Buy), Constant Contact carries a Zacks Rank #2 (Buy).
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