Splunk shares on the verge of a major breakout?

FBN's Charles Payne, Divine Capital CEO Dani Hughes, retail analyst Hitha Prabhakar and Penn Financial Group founder Matt McCall on the outlook for Splunk.

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Splunk on the Verge of a Major Breakout?

By Payne's Picks FOXBusiness

Let’s talk about Splunk (SPLK).

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It’s coming off a double bottom, and it’s on the verge of a major breakout.

The application software, big data company has beaten the Street 3 of the last 4 quarters. (The last time out they crushed them.)

Over the next five years, I predict the company will double the growth of the industry.

Red flags: it’s vulnerable and it has gone down. Also, 93 insider sales, almost two million shares. Wall Street did not like that.

But they’re in cloud, industrial data, Internet of things, business analytics -- they’re comparable with Microsoft (MSFT) up big in the after market. Online industries, health care, retail, communications, energy, utilities.

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Coming off that double bottom I talked about up to $73, I think you got an easy move there. Then after that, I think it will trade north of $80.

DISCLOSURES

Splunk (SPLK)

Owns

Family Owns

Firm Owns

Investment
Banking

CHARLES N N Y N
MATT N N N N
HITHA N N N N
DANI N N N N
SCOTTIE N N N N
LINDSEY N N N N

 

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