Splunk Stock Price, News & Analysis

Splunk Inc. (NASDAQ: SPLK) has been recognized as a Leader in the 2022 Gartner Magic Quadrant for Security Information and Event Management (SIEM) for the ninth consecutive year. The company also ranked first in Gartner's Market Share: All Software Markets, Worldwide 2021 report for the SIEM market. Splunk attributes this recognition to its innovative security solutions, including Splunk Enterprise Security and Splunk SOAR Cloud, which enhance threat detection and incident response. The firm is committed to delivering advanced security analytics that mitigate risks and protect businesses.

Splunk Inc. (NASDAQ: SPLK) announced the appointments of Richard P. Wallace and David Tunnell to its Board of Directors, effective immediately. Wallace, a technology executive with over 30 years of experience, and Tunnell, who has 25 years of financial expertise, aim to enhance Splunk's growth strategy. This change follows the departure of directors Stephen G. Newberry and Sara Baack. The board now consists of 11 directors, with a significant focus on independent members. This restructuring reflects Splunk’s commitment to adapting to the evolving tech landscape.

Splunk Inc. (NASDAQ: SPLK) has filed a lawsuit against Cribl in the District of Delaware, alleging patent and copyright infringement, along with unfair competition. The complaint claims that Cribl unlawfully used Splunk source code and misappropriated confidential information. Splunk accuses Cribl's CEO, Clint Sharp, of founding Cribl using Splunk's code without permission. Despite this legal action, Splunk intends to maintain its customer and partner relationships, asserting confidence that the court will uphold its intellectual property rights.

Splunk Inc. presents the Economic Impact of Data Innovation 2023 report, revealing that companies excelling in data practices see an average 9.5% increase in gross profits. Data leaders are 2.9 times more likely to outperform competitors and twice as likely to meet financial expectations. The study involved 2,000 IT and business leaders across nine countries, highlighting a strong correlation between data innovation and market competitiveness. The report underscores the necessity of a robust data foundation for organizational resilience and decision-making.

Splunk Inc. (NASDAQ: SPLK) announced that Jason Child, CFO since 2019, is stepping down to take a position at a pre-IPO semiconductor company. He will stay until early November. Splunk is conducting a search for a new CFO while establishing an Office of the CFO to maintain financial oversight during the transition. The company reaffirmed its financial outlook for Q3 and FY 2023, projecting revenues of $835 million to $855 million for Q3 and $3.35 billion to $3.4 billion for the full fiscal year.

Splunk Inc. (NASDAQ: SPLK) has appointed Tom Casey as Senior Vice President and General Manager of its Platform, effective September 20, 2022. Casey brings over 25 years of experience in technology, having previously served as Senior Vice President, Engineering at DocuSign and holding leadership roles at Apptio and Microsoft. He will oversee the platform strategy and development at Splunk, focusing on expanding their cloud and enterprise software capabilities. The appointment aims to enhance Splunk's ecosystem and meet customer needs across various environments.

Splunk Inc. (NASDAQ: SPLK) has appointed Jason Lee as Chief Information Security Officer (CISO). Lee will oversee Splunk’s global security measures to protect employees and customers, focusing on cloud security, threat management, and risk. With over 20 years in technology, including leadership roles at Zoom and Salesforce, Lee is expected to enhance Splunk’s proactive cybersecurity strategy. CEO Gary Steele expressed confidence in Lee's ability to safeguard customer data and lead the security organization effectively.

Splunk Inc. (NASDAQ: SPLK), a leader in data platforms for security and observability, will participate in the Goldman Sachs Communacopia + Technology Conference in San Francisco, CA. The discussion will be led by President and CEO Gary Steele, along with CFO Jason Child, starting at 7:30 a.m. PT on Tuesday, September 13, 2022. A live webcast of the session can be accessed via the Splunk Investor Relations website. Splunk's technology empowers organizations to effectively investigate, monitor, analyze, and act on data.

Splunk Inc. (NASDAQ: SPLK) reported strong fiscal Q2 2023 results with total revenues of $799 million, marking a 32% increase year-over-year, and cloud revenue rising 59% to $346 million. The company achieved a Cloud Dollar-Based Net Retention Rate of 129% and increased its customer base with annual recurring revenue (ARR) exceeding $1 million by 24%. Splunk also raised its revenue outlook for the year, projecting total revenues between $3.35 billion and $3.4 billion. Non-GAAP operating margin guidance improved significantly, indicating a balanced approach to growth and profitability.