conf23 to talk about his first year as Splunk president and CEO, the changes he has launched within the company, his focus on accelerating innovation, and his expectations for this week’s Splunk. Steele spoke with CRN on the eve of Splunk. No matter where you are in your cloud journey, your organization can leverage Splunk’s world-leading investigation capabilities and achieve rapid time to action, all to accelerate your cloud-driven transformation. conf23 partner and customer event in Las Vegas where the focus is on providing customers with digital resilience through the Splunk unified cybersecurity and observability platform-capabilities that Steele says customers need to maintain the security and performance of their digital transformation initiatives. Splunk provides end-to-end data coverage across hybrid and multicloud landscapes. Splunk has also been stepping up its channel efforts, including hiring former Microsoft executive Gretchen O’Hara as its new channel chief in October 2022. Most notable in the quarter was a 16 percent gain in annual recurring revenue and a 243 percent increase in operating cash flow-key metrics that Steele is keeping an eye on. In its fiscal 2024 first quarter ended April 30, 2023, the company reported revenue of $751.5 million, up more than 11 percent from $674.1 million one year before. 31, 2023, Splunk reported revenue of $3.65 billion, up nearly 37 percent from $2.67 billion in fiscal 2022. In June 2021 private equity giant Silver Lake provided Splunk with a cash infusion with a $1 billion investment.įor its fiscal 2023 ended Jan. Merritt’s departure came after Splunk had struggled through a revenue decline and periods of negative operating cash flow in fiscal 2021 at the height of the pandemic. Steele joined Splunk following the sudden resignation of CEO Doug Merritt in November 2021. Steele has also had to guide Splunk through a year of macroeconomic uncertainty that included layoffs in February of about 325 employees-about 4 percent of its workforce Since taking the reins at Splunk, Steele has installed a new leadership team, worked to improve efficiency and business execution, steadied the company’s sometimes uneven financial performance, and accelerated the pace of innovation. Most organizations rely on different cybersecurity frameworks to defend themselves from attacks. Splunk technology is designed to investigate, monitor, and analyze and act on data at any scale.It has been 15 months since Gary Steele assumed the leadership of Splunk, taking over as president and CEO in April 2022 during a time of transition for the unified security and observability platform developer. Cybersecurity means protecting computer and network systems against intrusion, theft or damage, and is the main line of defense against a vast number of digital adversaries. turns data into doing with the Data-to-Everything Platform. (This description is provided by the company.) The firm increased its portfolio allocation in SPLK by 5.35% over the last quarter. In it's prior filing, the firm reported owning 4,943K shares, representing an increase of 2.39%. VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,064K shares representing 3.06% ownership of the company. The firm increased its portfolio allocation in SPLK by 32.35% over the last quarter. In it's prior filing, the firm reported owning 4,375K shares, representing an increase of 27.21%. Pictet Asset Management holds 6,010K shares representing 3.63% ownership of the company. The firm increased its portfolio allocation in SPLK by 7.87% over the last quarter. In it's prior filing, the firm reported owning 10,946K shares, representing an increase of 1.66%. Primecap Management holds 11,131K shares representing 6.72% ownership of the company. H&F Corporate Investors X holds 12,800K shares representing 7.73% ownership of the company. The firm increased its portfolio allocation in SPLK by 8.92% over the last quarter. In it's prior filing, the firm reported owning 20K shares, representing an increase of 99.90%. Ltd, Zurich holds 20,487K shares representing 12.37% ownership of the company. The put/call ratio of SPLK is 0.44, indicating a bullish outlook.īank Julius Baer & Co. Total shares owned by institutions increased in the last three months by 10.98% to 178,924K shares. Average portfolio weight of all funds dedicated to SPLK is 0.30%, a decrease of 3.03%. This is a decrease of 2 owner(s) or 0.17% in the last quarter. There are 1147 funds or institutions reporting positions in Splunk. The projected annual non-GAAP EPS is 2.48. The projected annual revenue for Splunk is 4,119MM, an increase of 12.73%. See our leaderboard of companies with the largest price target upside.
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