Seeking Alpha

Analysts return from Splunk conference with high praise

  • "With now over 550 apps available on the Splunk (SPLK +0.4%) app website, the company reiterates that Splunk is not just an app, but a platform that extends, consumes and integrates data-driven use cases," writes CLSA's Ed Maguire (Buy, $80 PT) after returning from the SplunkLive! user conference.
  • Maguire notes Splunk, which has been trying hard to expand beyond its core IT operational intelligence market, claims 130+ security apps in its ecosystem to go with 300+ IT operations/software management apps. He adds talks with customers revealed many had dramatically expanded deployments of Splunk's machine data analysis tools following initial success.
  • Cantor's Brian White, who called Splunk a top 2014 pick when shares were near $70, noted new CTO Todd Papaioannou says Splunk aims to be the "de facto fabric for unstructured data," a remark that points to broader ambitions in the big data/analytics space.
  • Deutsche's Karl Keirstead is more circumspect, noting rival Sumo Logic claims strong customer win activity for a cloud-based machine data solution it asserts is more scalable than Splunk Cloud. But he also declares "Splunk still has by far the greatest scale, mindshare and technology in the industry."
  • Valuation and (to a lesser extent) competitive worries have led shares to fall 59% from a February high of $106.15.
  • Previous: Splunk sputters after announcing sales chief is leaving
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Comments (1)
  • Bottom Up Investing
    , contributor
    Comments (103) | Send Message
    Splunk Live was defiently an excellent opportunity to obtain critical incremental information.
    16 May 2014, 07:13 PM Reply Like
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