In the latest trading session, Splunk closed at $154.50, marking a +0.05% move from the previous day. The stock's change was more than the S&P 500's daily loss of 1.37%. Elsewhere, the Dow saw a downswing of 1.35%, while the tech-heavy Nasdaq depreciated by 1.8%.
Coming into today, shares of the maker of software that helps companies collect and analyze internal data had gained 1.16% in the past month. In that same time, the Computer and Technology sector gained 8.88%, while the S&P 500 gained 5.1%.
The investment community will be paying close attention to the earnings performance of Splunk in its upcoming release. The company is slated to reveal its earnings on February 27, 2024. In that report, analysts expect Splunk to post earnings of $1.87 per share. This would mark a year-over-year decline of 8.33%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.25 billion, indicating a 0.28% increase compared to the same quarter of the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Splunk. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Splunk holds a Zacks Rank of #3 (Hold).
Looking at valuation, Splunk is presently trading at a Forward P/E ratio of 31.42. Its industry sports an average Forward P/E of 33.08, so one might conclude that Splunk is trading at a discount comparatively.
Also, we should mention that SPLK has a PEG ratio of 1.06. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. SPLK's industry had an average PEG ratio of 1.75 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 79, placing it within the top 32% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Splunk (SPLK) Increases Despite Market Slip: Here's What You Need to Know
In the latest trading session, Splunk closed at $154.50, marking a +0.05% move from the previous day. The stock's change was more than the S&P 500's daily loss of 1.37%. Elsewhere, the Dow saw a downswing of 1.35%, while the tech-heavy Nasdaq depreciated by 1.8%.
Coming into today, shares of the maker of software that helps companies collect and analyze internal data had gained 1.16% in the past month. In that same time, the Computer and Technology sector gained 8.88%, while the S&P 500 gained 5.1%.
The investment community will be paying close attention to the earnings performance of Splunk in its upcoming release. The company is slated to reveal its earnings on February 27, 2024. In that report, analysts expect Splunk to post earnings of $1.87 per share. This would mark a year-over-year decline of 8.33%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.25 billion, indicating a 0.28% increase compared to the same quarter of the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Splunk. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Splunk holds a Zacks Rank of #3 (Hold).
Looking at valuation, Splunk is presently trading at a Forward P/E ratio of 31.42. Its industry sports an average Forward P/E of 33.08, so one might conclude that Splunk is trading at a discount comparatively.
Also, we should mention that SPLK has a PEG ratio of 1.06. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. SPLK's industry had an average PEG ratio of 1.75 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 79, placing it within the top 32% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.