Yahoo Finance Why Splunk (SPLK) is a Top Momentum Stock for the Long-Term
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
Splunk (SPLK)
San Francisco, CA-based Splunk Inc. provides software solutions that enable enterprises to gain real-time operational intelligence by harnessing the value of their data. The company’s offerings enable users to investigate, monitor, analyze and act on machine data and big data, irrespective of format or source, and helps in operational decision making.
SPLK sits at a Zacks Rank #2 (Buy), holds a Momentum Style Score of B, and has a VGM Score of B. The stock is down 0.4% and up 0.2% over the past one-week and four-week period, respectively, and Splunk has gained 91.4% in the last one-year period as well. Additionally, an average of 2,064,992.75 shares were traded over the last 20 trading sessions.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, one analyst revised their earnings estimate higher in the last 60 days for SPLK, while the Zacks Consensus Estimate has increased $0.02 to $3.78 per share. SPLK also boasts an average earnings surprise of 154.9%.
Investors should take the time to consider SPLK for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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Splunk Inc. (SPLK) : Free Stock Analysis Report
