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Splunk (SPLK +6.8%) is rallying for the third straight day ahead of this afternoon's FQ1 report....

Splunk (SPLK +6.8%) is rallying for the third straight day ahead of this afternoon's FQ1 report. The analyst commentary (I, II) that has followed the machine data software vendor's strong April IPO has largely been positive, in spite of its rich valuation.
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