Splunk, Inc. (SPLK) provides software products for users to manipulate and analyze data regardless of format or source. The stock is currently trading around $69.85 at the upper end of its 52 week range of $39.35-$74.88. The stock has been outperforming the market this year rallying 17.95% year to date. SPLK is scheduled to report earnings after the bell today, and the stock is ripping up ahead of the release. SPLK is higher on the session by around $0.19 or 0.51% ahead of the closing.

Over the past 12 quarters SPLK has rallied on earnings day 8 times with an average move of 9.57%. SPLK appears bullish on a chart going into the release approaching its high of the past 20 trading days of $70.97. Over the past 12 quarters SPLK has rallied from earnings to the nearest options expiration 8 times with an average move of 9.38%. The stock looks as if it could continue its trend and rip to the upside in today’s session. The cloud appears to be consistently changing its trend. Investors are mainly looking to see if Splunk will turn a profit for the first time since its IPO in 2012. Other points to watch for are how the rollout of Splunk light fared in the recent quarter, and how the customer base increase of 7% will affect earnings.

The options market is currently implying a move of around $5.5 or 7.91% in SPLK by this Friday’s close giving us targets of $74.35 and $64.35.

Andrew Keene

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