Splunk (SPLK) closed the most recent trading day at $174.17, moving +0.75% from the previous trading session. This change outpaced the S&P 500's 0.47% gain on the day. At the same time, the Dow added 0.4%, and the tech-heavy Nasdaq gained 0.87%.Coming into today, shares of the maker of software that helps companies collect and analyze internal data had gained 10.05% in the past month. In that same time, the Computer and Technology sector gained 2.81%, while the S&P 500 gained 1.43%.Investors will be hoping for strength from SPLK as it approaches its next earnings release, which is expected to be March 4, 2020. The company is expected to report EPS of $0.96, up 3.23% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $783.94 million, up 26.02% from the year-ago period.Any recent changes to analyst estimates for SPLK should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. SPLK currently has a Zacks Rank of #3 (Hold).Digging into valuation, SPLK currently has a Forward P/E ratio of 74.42. This represents a premium compared to its industry's average Forward P/E of 53.96.Investors should also note that SPLK has a PEG ratio of 2.38 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Internet - Software stocks are, on average, holding a PEG ratio of 2.71 based on yesterday's closing prices.The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 104, putting it in the top 41% of all 250+ industries.The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report To read this article on Zacks.com click here.