You would also be able to participate in a potential up move.įinally, SPLK stock’s beta value is about 1.55, which means it is more volatile than the broader market. Such a covered call position would offer you some downside protection. If you are an experienced investor in the options market, you may also consider using a covered call strategy with approximately a two-month time horizon, like an Oct. That said, if you are worried about further profit-taking, then within the parameters of your portfolio allocation and risk/return profile, you may consider placing a stop loss at about 3% to 5% below the current price point to protect the profits you’ve already made from Splunk stock. Such a level would offer a good entry point.ĭo you already own SPLK shares? Then you might want to stay the course and hold onto your position. In the coming days, a move toward the $200 level or even below is possible. And this down move is consistent with the short-term technical picture of Splunk stock. However, following the release of the Q2 numbers, some profit-taking has kicked in. Importantly, shares have more than doubled off their mid-March lows. Over the past year, Splunk stock is up over 90%. What Could Derail Splunk Stock in the Short Term?
#Splunk stock forum update
Going forward, Wall Street will continue paying close attention to not only the top- and bottom-line numbers, but also to Splunk’s update regarding its enterprise customer additions. Within the early part of the decade, the company is aiming to bring in over 50% of its revenue from cloud.
#Splunk stock forum software
Splunk’s cloud business continues to accelerate, now representing more than half of our software bookings in the quarter - a major milestone in our cloud journey.” Census Bureau and Zillow (NASDAQ: Z).ĬEO Doug Merritt said, “I’m pleased to see the role Splunk’s Data-to-Everything platform has played in helping our customers drive meaningful insights as they advance into The Data Age to meet the challenges of 2020 and beyond. Some of its high-profile customers are Domino’s Pizza (NYSE: DPZ), Intel (NASDAQ: INTC), the University of San Francisco, U.S. Splunk’s client list is growing and now includes 92 companies on the Fortune 100 list. Splunk now has 396 customers with ARR greater than $1 million.
The company is currently transitioning to a subscription model which means recurring cash flows as opposed to upfront customer payments.Īs a result, cloud annual recurring revenue (ARR) was $568 million, up 89% YOY.
#Splunk stock forum driver
This metric was in line with the overall picture that Splunk’s customers are moving to the cloud, which is likely to become the growth driver in the years ahead. An operating loss of $239.5 million was 175.6% wider YOY.Ĭloud revenue was $126 million, up 79% YOY. Total revenues were $492 million, down 5% year-over-year.īut analysts were expecting $522.52 million.Īdjusted losses per share of 33 cents came in line with estimates. 26, Splunk released mixed second-quarter results. What About Second-Quarter Results?Ĭalifornia-based Splunk allows businesses to analyze and interact with machine-generated big data through a website-style interface.
Therefore, I’ll take a closer look at what market participants can expect from SPLK shares in the coming months.Īlthough there will likely be choppiness and some profit-taking in the short run, I believe Splunk stock belongs in long-term portfolios. And Splunk is one of the biggest players in the space. In other words, data analytics is becoming increasingly important, especially amid the novel coronavirus.
Hence, new forms of information science and technology - such as big data analysis and mining - are needed to process and analyze these big data so enable enhanced decision making, insight, knowledge discovery, and process optimization” However, these big data come with volumes beyond the ability of commonly-used software to capture, manage, and process within a tolerable elapsed time. “Embedded in is implicit, previously unknown, and potentially useful information and knowledge. Carson Leung, the director of the Database & Data Mining Lab at the University of Manitoba: Thankfully for investors, the case for Splunk should just be getting brighter.Īccording to Dr.
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