Splunk stock had its Relative Strength (RS) Rating upgraded from 67 to 91 Friday.
When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength. This exclusive rating from Investor's Business Daily measures share price movement with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history shows that the best stocks typically have an RS Rating north of 80 as they launch their largest climbs.
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Is Splunk Stock A Buy?
Splunk stock is in a buy zone after climbing above a 111.72 buy point in a double bottom. The proper buying range is up to 5% above the initial entry. Once a stock hits that benchmark, it's best to wait for it to set up another buying opportunity..
The database software firm saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 0% to 689%. Revenue rose from 11% to 14%.
Splunk stock earns the No. 2 rank among its peers in the Computer Software-Database industry group. Dropbox is the top-ranked stock within the group.
