Splunk Inc. ($SPLK) Stock Forecast: Down 0.1% Today

What is Splunk Inc.?

Splunk (NASDAQ: SPLK) is a software company recognized for its data analytics and monitoring solutions. Today, the stock saw a notable decline despite an overall positive trend in the tech sector, as depicted by the strong performance of the Nasdaq index.

Why is Splunk Inc. going down?

SPLK stock is down 0.1% on Mar 14, 2024 16:51

• Splunk (SPLK) stock's bearish movement within the tech sector's positive trajectory might be attributed to the following factors:
• Analyst coverage and a subsequent "buy" rating, possibly resulting in heightened expectations and subsequent profit-taking among investors.
• Splunk's comparatively lower profile relative to large-cap tech counterparts, leading to potential volatility influenced by varying levels of investor attention.
• The recent addition of Linde plc to the Nasdaq-100 Index potentially diverting attention and investment interest away from Splunk in the short term.

SPLK Price Chart

SPLK Technical Analysis

SPLK News

Stealth Mode Standouts: 3 Under-the-Radar Tech Stocks Set to Soar

Tech stocks continue to outperform. The Nasdaq index is up nearly 10% this year compared to an 8% increase in the benchmark S&P 500 index and a 3% gain in the blue-chip Dow Jones Industrial Average. However, the rally among technology stocks continues to be uneven. While the Magnificent Seven and stocks of microchip companies are performing well, many other tech stocks are lagging the overall performance. This can be due to poor earnings and also a lack of investor awareness. Many technology stocks are not as familiar to investors as the mega-cap names that receive constant spotlights in the business press. This is especially true among individual retail investors. However, there are some great long-term buys available among less popular technology stocks. Here are stealth mode standouts: three under-the-radar tech stocks set to soar.

https://investorplace.com/2024/03/stealth-mode-standouts-3-under-the-radar-tech-stocks-set-to-soar/

Splunk ( NASDAQ:SPLK ) Now Covered by Analysts at StockNews.com

Splunk ( NASDAQ:SPLK ) Now Covered by Analysts at ...

https://www.americanbankingnews.com/2024/03/10/splunk-nasdaqsplk-now-covered-by-analysts-at-stocknews-com.html

Splunk ( NASDAQ:SPLK ) Earns Buy Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Splunk ( NASDAQ:SPLK - Get Free Report ) in a research report issued on Sunday. The firm set a "buy" rating on the software company's stock.

https://www.defenseworld.net/2024/03/10/splunk-nasdaqsplk-earns-buy-rating-from-analysts-at-stocknews-com.html

Linde plc to Join the Nasdaq-100 Index® Beginning March 18, 2024

NEW YORK, March 08, 2024 ( GLOBE NEWSWIRE ) -- Nasdaq ( Nasdaq: NDAQ ) today announced that Linde plc ( Nasdaq: LIN ) , will become a component of the Nasdaq-100 Index® ( Nasdaq: NDX® ) , the Nasdaq-100 Equal Weighted™ Index ( Nasdaq: NDXE™ ) , the Nasdaq-100 Ex-Tech Sector™ Index ( Nasdaq: ...

https://www.globenewswire.com/news-release/2024/03/09/2843370/6948/en/Linde-plc-to-Join-the-Nasdaq-100-Index-Beginning-March-18-2024.html

Linde plc to Join the Nasdaq-100 Index® Beginning March 18, 2024 - Linde ( NASDAQ:LIN ) , Nasdaq ( NASDAQ:NDAQ )

NEW YORK, March 08, 2024 ( GLOBE NEWSWIRE ) -- Nasdaq NDAQ today announced that Linde plc LIN, will become a component of the Nasdaq-100 Index® NDX, the Nasdaq-100 Equal Weighted™ Index NDXE, the Nasdaq-100 Ex-Tech Sector™ Index NDXX, and the Nasdaq-100 ESG™ Index NDXESG prior to market open on ...

https://www.benzinga.com/pressreleases/24/03/g37571868/linde-plc-to-join-the-nasdaq-100-index-beginning-march-18-2024

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Splunk Inc. Price History

24.04.2023 - SPLK Stock was up 7.2%

• The bullish movement of SPLK today can be attributed to the following factors:
• The positive adjustment of its Relative Strength (RS) Rating from 65 to 71, indicating strong price movement.
• The upcoming quarterly earnings report on May 24, with analysts estimating a positive EPS.
• The partnership with Tenable for better data-driven response, which could potentially increase demand for SPLK's solutions.

21.08.2023 - SPLK Stock was up 20.7%

• Splunk's stock prices soared after the announcement of its acquisition by Cisco Systems Inc. (CSCO) for $28 billion in cash, representing a premium of 31.3% on Splunk's September 20 price.
• Cisco's decision to acquire Splunk boosted investor confidence in Splunk's future prospects, leading to the bullish market movement.
• The acquisition highlights Cisco's commitment to strengthening its cybersecurity play and expanding its portfolio in the rapidly growing cybersecurity market.
• The investigation by Halper Sadeh LLC into the fairness of the sale to Splunk shareholders did not significantly impact the bullish market movement.

14.02.2024 - SPLK Stock was down 0.1%

• Splunk (SPLK) stock's bearish movement within the tech sector's positive trajectory might be attributed to the following factors:
• Analyst coverage and a subsequent "buy" rating, possibly resulting in heightened expectations and subsequent profit-taking among investors.
• Splunk's comparatively lower profile relative to large-cap tech counterparts, leading to potential volatility influenced by varying levels of investor attention.
• The recent addition of Linde plc to the Nasdaq-100 Index potentially diverting attention and investment interest away from Splunk in the short term.

23.07.2023 - SPLK Stock was up 12.0%

• The bullish movement in SPLK today can be attributed to positive market sentiment and anticipation of strong earnings results. The upcoming earnings announcement, with a consensus estimate of $0.45 EPS (+134.6% Y/Y), has generated optimism among investors. Additionally, the healthy demand for Splunk's security and business analytics solutions has further contributed to the positive market movement.

21.08.2023 - SPLK Stock was up 18.9%

• The CEO of Splunk Inc., Gary Steele, sold a significant number of shares, which could indicate confidence in the company's future prospects.
• The article discussing top tech stocks to buy highlights the potential for sustained growth in the technology sector, which could positively impact Splunk's stock.
• DoorDash's expansion into grocery and alcohol delivery could be seen as a positive development for Splunk, as it may indicate increased demand for data analytics solutions in the e-commerce and delivery industry.
• The report on the Observability Tools and Platforms Market forecasts significant growth in the industry, and Splunk is listed as one of the key players, suggesting potential opportunities for the company.
• The comparison between Splunk and Uber's performance in the computer and technology sector indicates that Splunk may be outpacing its peers, further supporting the bullish market movement.

28.01.2024 - SPLK Stock was up 0.2%

• Splunk (SPLK) exceeded Q4 earnings estimates on strong revenues, driven by healthy traction in the cloud business.
• The company disclosed solid fiscal Q4 and full-year 2024 results, with a 15% increase in Annual Recurring Revenue to $4.2 billion.
• Enhanced investor communications by Splunk with an updated platform may have instilled confidence in investors, contributing to the bullish movement.
• The strong financial performance and positive company outlook likely attracted more investors, leading to the surge in SPLK stock price.

31.06.2023 - SPLK Stock was up 3.2%

• The article highlights the growing use of technologies like artificial intelligence, which aligns with Splunk's expertise in data analytics and machine learning.
• The positive reception to Splunk's annual user event, as mentioned in the article, indicates a strong interest from customers in the company's new product announcements and innovation.
• The analyst's Buy rating and price target for Splunk suggests confidence in the company's future performance and potential for growth.
• The overall bullish movement of the stock could be attributed to the positive market sentiment towards tech stocks and the increasing demand for software solutions in various industries.