Splunk ceo news12/9/2023 ![]() ![]() Splunk used to be a "legacy" license-based software vendor, but over the past several years it has followed the trend of its peers into the SaaS arena, and now roughly two-thirds of its software bookings are cloud-based. Splunk's original and primary use case was network security, but data unlocks many more possibilities - so its products are now also used for analytics and observability. Specifically, its software helps companies mine the "machine data" that its technology assets already generate. Splunk, for investors who are newer to this name, is a "big data" stock. Year to date, the stock is even up ~15% but that being said, Splunk is still down ~20% from all-time highs notched last November, and I think current share prices still offer plenty of opportunity for upside. Splunk has, admittedly, retained its value better than most other high-growth SaaS peers. Splunk ( NASDAQ: SPLK), in my view, is an excellent large-cap portfolio choice for investors who want to be exposed to one of the software sector's most promising and broadly applicable names. ![]() The markets have churned downward on fears of the same news, and though volatility has continued, we have also seen brief rally re-starts that show that investors are tiring of being bearish.Īs such, I think it's important for investors to start overweighting growth again, specifically in stocks that still show good value and have gotten a beat-down since last year. As for me, I don't think that's the case: all the "bad news" has already spilled out earlier this year, including rising rates, the threat of stagflation, and increased geopolitical tensions. There are some investors who are in the bearish camp who think that the markets will see another sharp drop by year-end. David Tran/iStock Editorial via Getty Images ![]()
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