Cloud Stocks: Splunk On The Right Track With Cloud And PaaS

Splunk recently announced an update to its event streaming platform, Splunk Data Stream Processor. The new capabilities will allow it to access, process, and route live data from several cloud services, including Google’s cloud platform and Microsoft’s Azure event hub. It added new lookups and machine learning functionality to minimize compute loads and provide better accuracy when searching through data.

Splunk recently expanded its multi-year partnership with McLaren racing. As part of the partnership extension, Splunk will remain an official McLaren technology partner and will work with McLaren to enhance the performance across their Racing team, by providing data for every question, decision and action. By continuing to capture data across McLaren’s infrastructure, network, and server environment, it will be able to provide McLaren Racing function with assistance in accelerating operations and performance.

Splunk’s Growth Pillars

Overall, Splunk saw strength across all three of its key pillars – Security, IT Ops, and DevOps. The earlier acquisition of SignalFx last year helped it deliver triple digit growth in the ARR for its Observability business. Given the increased spending within IT environment and a maturing Observability suite, analysts believe that Splunk has a clear path to over $4 billion in ARR within the next two years.

Analysts believe that the global AIOps and Observability market is a $17 billion opportunity. Splunk is a leader in the market with more than 15,000 paying customers and is working to continue to strengthen its position in the space. But AIOps and Observability has plenty of competition with players like Datadog, Dynatrace, New Relic, and Broadcom, to name a few. Everyone is trying to differentiate themselves in specific parts of the stack, and Splunk has its work cut out.

Splunk is a mature PaaS player in the market that has a thriving app marketplace and developer ecosystem. It allows developers to access Splunk Cloud Services via REST APIs and SDKs from its custom-built cloud-native app. Developers can build apps and integrations that bring new kinds of data into the Splunk platform and help provide data-based insights to users. Developers can use the Splunk Web Framework to visualize the data in a Splunk app and create custom dashboards and Splunk apps with tables, charts, and form searches.

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Disclosure: All investors should make their own assessments based on their own research, informed interpretations and risk appetite. This article expresses my own opinions based on my own ...

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