Is Splunk Stock a Buy?
Cloud computing has been a bright spot in 2020 amid the global pandemic and ensuing recession. According to tech researcher Gartner, global public cloud spending is expected to increase 6% from 2019 to reach some $258 billion -- then return to double-digit percentage increases in 2021 and 2022, in which time Gartner sees global cloud spending topping $364 billion.
This is the trend that underpins the thesis to invest in data monitoring and analytics platform Splunk (NASDAQ: SPLK).
Image source: Getty Images.
Source Fool.com
