This Unstoppable Artificial Intelligence Stock Is Bucking the August Stock Market Sell-Off -- Here's Why It's a Buy Right Now
August and September tend to be weak months for the stock market. Seasonality is the cause; many Wall Street fund managers are away for the summer, which means volume tends to be light and fewer buyers are standing by to support dips in the market.
Right on cue, the Nasdaq-100 index declined by 5% in August. Many individual stocks have suffered much steeper declines -- Apple, the world's largest company, has shed 9% of its value this month.
But it's not all doom and gloom. Machine learning (ML) specialist Splunk (NASDAQ: SPLK) just released its quarterly financial results for the three months ended July 31, and investors sent its stock price soaring. It's now sitting on a gain of 7% for August, far outperforming the Nasdaq-100. Here's why it's likely to go higher.
Source Fool.com
Splunk Inc. Stock
With 24 Buy predictions and 1 Sell predictions Splunk Inc. is one of the favorites of our community.
With a target price of 147 € there is a slightly positive potential of 2.0% for Splunk Inc. compared to the current price of 144.12 €.
