#2 - Splunk (NASDAQ:SPLK)
SPLUNK (NASDAQ: SPLK) - Splunk is an “operational intelligence provider” and an industry leader in Security Information and Event Management (SIEM). SPLK has a breadth of product offerings in the cybersecurity market which is expected to be a $250 billion industry in five years. According to the company in their 2019 earnings call they solve “data challenges around IT operations and application delivery, security compliance and fraud; as well as business analytics and IoT (Internet of Things)”. The company is well-positioned to remain a leader in the cybersecurity space even as new competitors are emerging. At the moment, the bad news for Splunk is a question of valuation. The stock has been on a tear since the beginning of the year, climbing nearly 30%. This comes after a period of time when the stock had been coming down from lofty levels and looked to be stabilizing. This has investors a little nervous about whether the stock still has room to run. The good news is that the company is drawing attention as an acquisition target of companies such as Cisco (NASDAQ: CSCO) and International Business Machines (NYSE: IBM) which may provide the stock with some welcome room to run.
About Splunk
Splunk Inc, together with its subsidiaries, develops and markets cloud services and licensed software solutions in the United States and internationally. The company offers unified security and observability platform, including Splunk Security that helps security leaders fortify their organization's digital resilience by mitigating cyber risk and meeting compliance requirements; and Splunk Observability, which provides visibility across the full stack of infrastructure, applications, and the digital customer experience.
Read More - Current Price
- $156.90
- Consensus Rating
- Hold
- Ratings Breakdown
- 5 Buy Ratings, 23 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $135.31 (13.8% Downside)
