Splunk Stock Is a Bargain After Fourth-Quarter Earnings
Shares of Splunk (NASDAQ: SPLK) have taken a beating in recent months. The stock erased what was a 50% advance through last summer and is now down about 10% from where it was a year ago at the onset of the pandemic.
Yet in that time, the leading data analysis company has continued to grow -- driven by the popularity of its cloud-based software. However, as Splunk has been migrating its customer billing from legacy software to cloud, that growth still goes mostly misunderstood. Thus, Splunk is starting to look like a serious value.
As was the case all year, Splunk reported another decline in revenue during its fiscal 2021 fourth quarter (the three months ended Jan. 31, 2021). Revenue came in at $745 million, down 6% from the year prior. Of the total, cloud revenue was $171 million, up 72% year over year.
Source Fool.com
