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.

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Comments (1)
  • Bottom Up Investing
    , contributor
    Comments (121) | 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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