Splunk saw its IBD SmartSelect Composite Rating rise to 96 Thursday, up from 94 the day before.
The new rating shows the stock is outpacing 96% of all stocks when it comes to the most important stock-picking criteria. The top-performing stocks tend to have a 95 or better grade as they launch a significant move so be sure to keep that in mind when looking for the best stocks to buy and watch.
Splunk is currently forming a cup with handle, with a 109.95 buy point. See if the stock can continue moving up and then break out in volume at least 40% above average.
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The stock sports an 81 EPS Rating, meaning its recent quarterly and annual earnings growth is outpacing 81% of all stocks.
Its Accumulation/Distribution Rating of B- shows moderate buying by institutional investors over the last 13 weeks.
In Q1, the company posted 0% earnings growth. Revenue growth fell to 11%, down from 39% in the previous quarter.
Splunk holds the No. 5 rank among its peers in the Computer Software-Database industry group. MongoDB is the top-ranked stock within the group.
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