Sumo Logic Vs. Splunk: Which Cloud Stock Is A Better Buy?

: SUMO | Sumo Logic Inc. News, Ratings, and Charts

The emergence of remote working arrangements amid the COVID-19 pandemic has driven a significant increase in demand for cloud computing services. Providers of these services, for example Sumo Logic (SUMO) and Splunk (SPLK), are well-positioned to continue thriving because the shift to cloud platforms is expected to increase this year. But let’s find out which of these two stocks is a better buy now.

Sumo Logic Inc. (SUMO - Get Rating) and Splunk Inc. (SPLK - Get Rating) are involved in cloud computing and data analysis. A machine data analytics company, SUMO’s intelligence platform enables organizations to find solutions through digital transformation, applications, and cloud computing. SPLK’s software and cloud services enable organizations to search, monitor, analyze and visualize machine-generated big data.

The COVID-19 pandemic has accelerated the shift toward cloud-based computing platforms because  companies and entire communities had to adapt to remote working to remain operational or employed amid the pandemic. Because most companies are expected to continue with remote structures in the post-vaccine world given its benefits over  pre-pandemic working arrangements,  SUMO and SPLK are expected to gain in the upcoming months.

In terms of year-to-date performance of the two companies, SUMO is a clear winner with 29.2% returns versus SPLK’s 1.4%. But which of these two stocks is a better pick now? Let’s find out.

Latest Movements

SUMO announced on February 2 that its Continuous Intelligence Platform had received Federal Risk and Authorization Management Program (FedRAMP) authorization at a Moderate impact level. This will enable the company to help public-sector organizations  attain  real-time insights into complex on-premises and cloud environments, and further strengthen their security and compliance, while optimizing performance.

The company announced the appointment of Tracey Newell to its board of directors on December 7. to help guide SUMO’s growth and market leadership. In November, SUMO announced that its Cloud SIEM solution would  be integrated with Amazon.com, Inc.’s (AMZN) AWS Network Firewall, which is a new managed service that makes it easy to deploy essential network protections for all AMZN Virtual Private Clouds on AWS.

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