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Killexams : Splunk Certified availability - BingNews https://killexams.com/pass4sure/exam-detail/SPLK-2001 Search results Killexams : Splunk Certified availability - BingNews https://killexams.com/pass4sure/exam-detail/SPLK-2001 https://killexams.com/exam_list/Splunk Killexams : 3 Reasons Why You Should Consider Buying Splunk Today

Splunk (SPLK 5.42%) has dropped like a rock since the end of 2021. Unfortunately for its investors, the stock sold off due to the uncertainty unleashed after former CEO Doug Merritt announced he was stepping down on November 15, 2021. However, the company still has favorable business trends, and now might be the time for astute growth investors to take a look at this company.

Here are three reasons why you should consider buying Splunk today.

1. Splunk is growing faster than its addressable market

Companies use Splunk's platform to monitor, search, analyze, and visualize big data -- a capability that has three broad use cases: information technology (IT) operations, security, and observability. In 2020, these three uses added up to an $81 billion total addressable market (TAM), of which Splunk's annual recurring revenue (ARR), the value of predictable subscription revenue earned from customers in a single calendar year, made up around 2% of the TAM.

In 2022, the same three uses add up to an estimated $100 billion TAM for Splunk. And the company forecasts its ARR to make up approximately 3.5% of its TAM by the end of the year. So, if Splunk's ARR estimates and TAM are correct, Splunk is growing faster than its TAM, grabbing market share, and still has plenty of room to grow.

Additionally, Gartner ranked Splunk as a 2021 market leader in IT Operations for Health and Performance Analysis (observability), with a market share of 8.19%. And it is also a market leader in Security Information and Event Management (security), with a dominant 30.25% market share. 

The best growth companies to invest in are market leaders able to grow fast in large expanding markets yet still have significant room to grow, and Splunk checks all of those boxes.

2. Consistently high renewal and expansion rate 

Research company MarketsAndMarkets forecasts the global cloud computing market to grow from $445.3 billion in 2021 to $947.3 billion by 2026, a compound annual growth rate of 16.3%. Therefore, to capture that cloud growth, Splunk management decided in 2017 to transition into a Software-as-a-Service (SaaS) cloud platform by incentivizing its salespeople to sell subscriptions rather than perpetual licenses. Another reason for switching to a SaaS business model is that subscription businesses generate predictable revenue, and investors often reward such companies with a higher valuation.

One of the markets' most critical measures to judge a SaaS business is the dollar-based net retention rate (DBNRR). This metric measures whether a company can gain more revenue through sales to existing customers than it loses from customers that cancel their subscriptions. A score above 100% indicates that growth from the existing customer base exceeds any losses from that customer base.

The market likes SaaS companies that score above 110% and salivate over a subscription business scoring above 120% in a bull market.

A chart shows that the company has consistently high renewal and expansion rates.

Image source: Splunk.

As you can see in the above chart, Splunk's DBNRR is elite by consistently scoring around 130% for three years. Under better market conditions, investors would likely highly reward the stock of a subscription business racking up such numbers.

3. Growing profitability 

While changing to a subscription business model can provide excellent profitability and returns in the long term, cloud infrastructure and other costs often lower margins and free cash flow (FCF) in the short term. As a result, investors usually initially hate businesses transitioning to a subscription model.

For example, in fiscal 2020 (the calendar year 2019), Splunk accelerated the push to a subscription business by canceling perpetual licenses for new products. As a result, FCF dropped to negative $391, a considerable drop from the previous year's positive FCF of $273. And across 2021, investors began fleeing negative FCF companies like Splunk as inflation fears rose.

SPLK Chart

SPLK data by YCharts.

However, you can see on the chart below that FCF has already rebounded. And the company projects a positive FCF above $400 for fiscal 2023.

A chart shows that Splunk is showing growing profitability with scale.

Image source: Splunk.

In addition, the company is back on the path to achieving the rule of 40. Proponents of the rule of 40 believe that SaaS companies with a combined growth rate and FCF margin exceeding 40% generate cash flows sustainably. Conversely, companies below 40% may eventually have problems raising cash if they need it. The above chart shows Splunk's projections for the rule of 40 for the fiscal year 2023 are approximately 38% -- headed in the right direction.

The stock price should eventually rebound if the company continues improving profitability metrics like FCF.

Good value for a company poised for success

Splunk sells for a price-to-sales (PS) ratio of 3.81, close to its historic low of 3.79 and below the cloud services industry's PS ratio of 4.08 -- signaling an undervalued company.

If you are looking for a company most likely to bounce higher once the economy improves, there are few better places than Splunk.

Wed, 12 Oct 2022 20:02:00 -0500 Rob Starks Jr en text/html https://www.fool.com/investing/2022/10/13/3-reasons-why-you-should-consider-buying-splunk-to/
Killexams : Dynatrace's Disruptive New Product Threatens Splunk

Cloud computing is a game changer in software technology. Businesses are able to get more efficient as they migrate their operations to the cloud, but in doing so, they are also faced with an explosion in digital data. This can yield new insights for the company -- if they have the right tools for the job.

That's why the cloud has opened the way for a big shake-up in the software industry. One such niche is data analytics. Splunk (SPLK 5.42%) has been the market share leader in this department for many years, but it was late to make its own transition to the cloud. A number of cloud-native upstarts have been making headway, Dynatrace (DT 5.80%) among them. And Dynatrace just announced a disruptive new product that could further stir things up in data analytics.

It's all about automated observability

Dynatrace has been pioneering infrastructure software with its "observability" platform. IT teams work with increasingly complex amounts of data coming from the public cloud (like Amazon's AWS or Microsoft), a business's own data center, and legacy computing systems. Put simply, observability software is a type of tech infrastructure that gives these IT teams a visual look at what's working -- and more importantly, what might be broken. 

A lot of analytics companies out there provide observability solutions, but Dynatrace specifically addresses the world's mega-organizations that have massive amounts of data and complex systems. It does so with artificial intelligence (AI), not just providing a glimpse into the cloud but also automating the collection of information and recommending fixes. Tech researcher Gartner has consistently ranked Dynatrace a top pick for monitoring and observation along with Datadog, although the latter has historically targeted smaller companies with its suite of software. Customer rankings on Gartner's "Peer Insights" page have Dynatrace listed as the top pick for what it does in the world of analytics.

But what of this brand-new product that could deliver a jolt to the industry? It's called Dynatrace Grail, a type of "data lakehouse." Put simply, a data lakehouse combines aspects of data warehousing with data lakes, the type of innovative information storage infrastructure Snowflake (SNOW 9.95%) provides. A data lakehouse builds on this, though, and provides a new analytics service for a specific use case. In this instance, it's cloud observation and security.

How Grail could shake up the industry

I mentioned Splunk at the outset because it has long been the market leader in analytics, and it has a lot of very large customers. For context, Splunk hauled in $3.04 billion in revenue over the last reported 12-month period, compared to $987 million for Dynatrace.  

However, Splunk's basic functionality dates back to a simpler time in IT, a time when logs of unstructured data could be parsed through to yield insights on business operations. The world has changed, and a more unified and feature-rich set of automated tools designed for the cloud is now needed. Splunk has been busy getting itself upgraded, which has included a number of large acquisitions. But it's been a messy journey, one that many investors haven't had an easy time understanding. Splunk stock has fallen 65% from its all-time highs last seen all the way back in the summer of 2020.  

Splunk is just now getting back to profitability (as measured by free cash flow), and revenue is on the rise again, too. But it's been an expensive endeavor. The company has $3.9 billion in debt and only $1.7 billion in cash and short-term investments. Long gone are the days when Splunk had a clean balance sheet. Splunk was late to innovate, and the cost of waiting was high.

Now, just as it's emerging from its efforts to catch up, Splunk could need to respond quickly. With Dynatrace introducing a brand-new analytics architecture built on modern data storage and computing technology, Splunk can't afford to make the mistake of falling behind yet again. 

A financially nimble structure is key

This highlights a longtime debate software stock investors have had: What does it mean for a company to have a defensible moat? Few technology companies can boast the type of product depth of Microsoft or Alphabet's Google. Even Adobe, which many maintained had a highly defensible position in digital content creation, may have just indicated it isn't so impervious to upstart competition

The technology sector almost implies there are no moats. In software in particular, companies need to constantly stay on the offense with innovation and (in my opinion) frequent acquisitions of tiny upstarts that might provide them with future growth opportunities. And along the way, they also need to remain financially nimble and highly profitable to stay on top. It's a tough balancing act, and most software companies aren't able to pull it off.

For now, it looks like Dynatrace has been doing a pretty good job. Since it reemerged from under the guidance of a private equity firm in 2019, it's been paying down debt and funneling cash into innovation (as made evident by the release of Grail). And it's profitable, both on a free cash flow basis and as measured by unadjusted earnings.  

From a technological perspective, I think Grail could set a new standard for software analytics. This may not be a company with a deep moat that can sit on its new innovation without fear of someone else taking a swipe at it. However, paired with Dynatrace's financial performance, this software tech stock is worth paying serious attention to right now. Time will tell how things shake out in this important corner of the cloud industry.

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Nicholas Rossolillo and his clients have positions in Adobe Inc., Alphabet (C shares), Amazon, and Dynatrace, Inc. The Motley Fool has positions in and recommends Adobe Inc., Alphabet (A shares), Alphabet (C shares), Amazon, Datadog, Microsoft, Snowflake Inc., and Splunk. The Motley Fool recommends Gartner and recommends the following options: long January 2024 $420 calls on Adobe Inc. and short January 2024 $430 calls on Adobe Inc. The Motley Fool has a disclosure policy.

Tue, 11 Oct 2022 04:49:00 -0500 Nicholas Rossolillo en text/html https://www.fool.com/investing/2022/10/11/dynatraces-disruptive-new-product-threatens-splunk/
Killexams : Splunk Files Intellectual Property Lawsuit Against Cribl

Asserts Cribl Willfully Infringes Splunk’s Patents and Copyrights and Has Misappropriated Confidential Business and Technical Documents

SAN FRANCISCO, October 05, 2022--(BUSINESS WIRE)--Splunk Inc. (NASDAQ: SPLK), the data platform leader for security and observability, today announced that it filed a lawsuit against Cribl in the United States District Court for the District of Delaware, alleging patent infringement, copyright infringement, unfair competition, and other claims. The complaint alleges that Cribl infringes numerous Splunk copyrights and patents, and has unlawfully misappropriated Splunk source code and confidential materials.

Splunk’s complaint alleges that Clint Sharp, CEO and Co-founder of Cribl, founded Cribl using code that he took from Splunk when he was a Splunk employee without permission or a license to do so. Splunk further alleges that Cribl and Mr. Sharp encouraged Splunk employees, who they recruited to Cribl, to misappropriate confidential technical and business documents from Splunk. Moreover, Splunk alleges that since then, Cribl has developed and marketed its software by, among other things, making unlicensed copies of Splunk’s copyrighted software, and is willfully infringing numerous patents awarded to Splunk by the United States Patent and Trademark Office.

According to the complaint, Cribl is "a business built on the back of Splunk’s labor and intellectual property, without license and without regard for ethics, the rights of others, or the law." The complaint explains further that unfortunately Cribl’s actions left Splunk no choice but to file this lawsuit. While Splunk is disappointed that Cribl’s behavior and wrongdoing have forced it to take this action, Splunk is confident the judicial process will determine that Cribl has infringed and misappropriated Splunk’s intellectual property for Cribl’s own benefit. This case is about Cribl’s misconduct. Splunk is not changing how it works with customers and partners, and looks forward to continuing to help them leverage Splunk to drive great insights and effective results.

Splunk has long been a pioneer and leader in the data platform industry, as evidenced by the well over 1,000 patents that have been granted to Splunk by the United States Patent and Trademark Office. Splunk remains committed to protecting the foundational innovations that define its reputation and brand.

For additional information regarding Splunk’s lawsuit against Cribl, please visit the Splunk blog.

About Splunk Inc.

Splunk Inc. (NASDAQ: SPLK) helps organizations around the world turn data into doing. Splunk technology is designed to investigate, monitor, analyze and act on data at any scale.

Splunk, Splunk>, Data-to-Everything and Turn Data Into Doing are trademarks and registered trademarks of Splunk Inc. in the United States and other countries. All other brand names, product names, or trademarks belong to their respective owners. © 2022 Splunk Inc. All rights reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221005005776/en/

Contacts

Media Contact:
Mara Mort
Splunk Inc.
press@splunk.com

Investor Contact:
Ken Tinsley
Splunk Inc.
ir@splunk.com

Wed, 05 Oct 2022 23:15:00 -0500 en-US text/html https://finance.yahoo.com/news/splunk-files-intellectual-property-lawsuit-202600497.html
Killexams : Splunk Named a Leader for the Ninth Consecutive Time in 2022 Gartner® Magic Quadrant™ for Security Information and Event Management

Splunk recently ranked First in Security Market in Gartner® Market Share: All Software Markets, Worldwide 2021 report

SAN FRANCISCO, October 13, 2022--(BUSINESS WIRE)--Splunk Inc. (NASDAQ: SPLK), the data platform leader for security and observability, today announced it has been named a Leader in 2022 Gartner Magic Quadrant for Security Information and Event Management (SIEM)* for the ninth time in a row. Additionally, in the recently released Gartner Market Share: All Software Markets, Worldwide 2021* report, Splunk ranked No. 1 in SIEM market share. For a complimentary copy of the 2022 Gartner Magic Quadrant for Security Information and Event Management, visit the Splunk website.

"We are honored to be recognized across these reports, and we thank our customers and partners for making this recognition possible," said Patrick Coughlin, Vice President of GTM Strategy and Specialization, Splunk. "We believe our position in the Leaders quadrant for the last nine times is a testament to our commitment to deliver a security analytics solution that accelerates threat detection and investigation, mitigates risk and protects your business."

Splunk has continued to innovate their flagship security solution, Splunk Enterprise Security, as well as the rest of the organization’s integrated security portfolio. Major products and features of the Splunk security portfolio include:

  • Splunk Enterprise Security: Organizations can assess risk-based alerting that transforms large volumes of noisy alerts into fewer high fidelity incidents. By grouping related events into a single incident, organizations can drive faster investigation and resolution, giving security teams time back in their day and more control over security operations.

  • Splunk Intelligence Management (formerly TruSTAR): This integration delivers threat intelligence enrichment to help organizations quickly understand threat context, prioritize triage, and accelerate investigations and response.

  • Splunk SOAR Cloud: This cloud-managed solution delivers orchestration and automation for faster investigations and response. With over 100 out-of-the-box automation playbooks, security teams can automate their most routine tasks.

  • Splunk Enterprise 9.0 and Splunk Cloud Platform: Recently released innovations such as ingest actions, federated search, and data manager are helping to supercharge security use cases such as detecting advanced threats, investigation, threat hunting and more.

  • Splunk Threat Research Team (STRT): Threat research and detections gathered and developed by the STRT fuel Splunk Security products, helping organizations stay one step ahead of emerging threats. With information provided by STRT, organizations can achieve faster time to value, increased threat visibility and quickly remediate threats using pre-packaged detections, machine-learning models and responses.

To learn more about Splunk’s security portfolio, visit the Splunk website.

*Gartner, Inc., 2022 Gartner Magic Quadrant for Security Information and Event Management, Pete Shoard, Andrew Davies, Mitchell Schneider, October 10, 2022.

*Gartner, Inc., Market Share: All Software Markets, Worldwide 2021, Neha Gupta et al, April 12, 2022.

Gartner and Magic Quadrant are registered trademarks and service marks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Splunk Inc.

Splunk Inc. (NASDAQ: SPLK) helps organizations around the world turn data into doing. Splunk technology is designed to investigate, monitor, analyze and act on data at any scale.

Splunk, Splunk>, Data-to-Everything and Turn Data Into Doing are trademarks and registered trademarks of Splunk Inc. in the United States and other countries. All other brand names, product names, or trademarks belong to their respective owners. © 2022 Splunk Inc. All rights reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221013005309/en/

Contacts

Media Contact
Emil Hanscom
Splunk Inc.
press@splunk.com

Investor Contact
Ken Tinsley
Splunk Inc.
ir@splunk.com

Fri, 14 Oct 2022 01:13:00 -0500 en-US text/html https://finance.yahoo.com/news/splunk-named-leader-ninth-consecutive-160000086.html
Killexams : Wells Fargo starts coverage on Splunk, sees 30% upside from current levels
Splunk headquarters in San Francisco

Sundry Photography

Investment firm Wells Fargo started coverage on Splunk (NASDAQ:SPLK) on Tuesday, stating that the data software company has "the best observability platform in the market."

Analyst Andrew Nowinski started coverage on Splunk (SPLK) with an overweight rating and a $95 price target, noting that the company's products are "deeply entrenched" inside many large customers, which should help "long-term durable growth and profitability."

Nowinski also noted that Splunk's (SPLK) revenue growth has started to "normalize," which he believes will "have a positive impact on the valuation."

"Splunk has persevered through five major transitions over the last 3 years, starting in May 2019, including a shift from perpetual to cloud [software-as-a-service], a pricing model change, an invoicing change, an expansion of the platform into the Observability market, and management changes," Nowinski wrote in a note to clients.

"While these changes all had a negative impact initially, they are now starting to have a positive impact as revenue growth (32% [year-over-year] in second-quarter) is starting to normalize," Nowinski added.

The analyst also noted that Splunk (SPLK) should start to see increasing operating margin and free cash flow even as revenue growth normalizes. There have been concerns from customers that Splunk's (SPLK) pricing model has been a "lingering pain point," there are encouraging signs, especially since Chief Executive Gary Steele, who took over in April, has started to make changes that should reduce the issues from customers and still have a positive impact on revenue growth.

Nowinski's revenue estimates for Splunk for 2022, 2023 and 2024 are $3.375B, $4.023B and $4.913B, with 2023 and 2024 above consensus estimates due to "the strong feedback we received from resellers on Splunk."

Last week, UBS downgraded Splunk (SPLK), noting concerns over increased competition and the pricing of its products.

Mon, 10 Oct 2022 20:23:00 -0500 en text/html https://seekingalpha.com/news/3890283-wells-fargo-starts-coverage-on-splunk-sees-30-upside-from-current-levels
Killexams : 17 Analysts Have This to Say About Splunk

Within the last quarter, Splunk (NASDAQ:SPLK) has observed the following analyst ratings:

Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish
Total Ratings 5 4 8 0 0
Last 30D 0 0 1 0 0
1M Ago 0 0 1 0 0
2M Ago 4 4 6 0 0
3M Ago 1 0 0 0 0

In the last 3 months, 17 analysts have offered 12-month price targets for Splunk. The company has an average price target of $127.94 with a high of $160.00 and a low of $86.00.

Below is a summary of how these 17 analysts rated Splunk over the past 3 months. The greater the number of bullish ratings, the more positive analysts are on the stock and the greater the number of bearish ratings, the more negative analysts are on the stock

price target chart

This current average represents a 6.61% decrease from the previous average price target of $137.00.

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

Thu, 06 Oct 2022 05:03:00 -0500 en text/html https://markets.businessinsider.com/news/stocks/17-analysts-have-this-to-say-about-splunk-1031788139
Killexams : Splunk alleges rival Cribl stole its source code for profit, files lawsuit

Data platform company Splunk has filed a lawsuit against rival Cribl, alleging that its CEO and other employees stole source code and technical secrets for its own advantage.

Splunk alleged that former employee Clint Sharp, who left the company in 2017, took code without permission that he then used when he co-founded Cribl the same year.

Additionally, it claims that since its formation Cribl has illegally sourced technical documents from outgoing Splunk employees in order to undermine the company.

“Mr Sharp founded Cribl using code he intentionally and unlawfully took from Splunk when he was a Splunk employee without a licence or permission to do so,” read the complaint.

“Since that time, Cribl and Mr Sharp have recruited numerous Splunk employees to Cribl, and have systematically encouraged employees to take Splunk’s confidential technical and business documents with them. In turn, Cribl has used the information it misappropriated to compete unfairly against Splunk.”

In a blog post, Splunk alleges that it attempted to settle the matter privately, but that this was unsuccessful. It characterises Cribl’s actions as a “coordinated campaign of misappropriation” and claims that the company used Splunk’s Technology Alliance Partner (TAP) programme to further its theft.

After launching in 2017, Cribl joined the TAP program, an agreement that allows partners to add to Splunk’s Enterprise platform, through the use and limited copying of Splunk software.

However, the TAP program agreement states that partners may only use the software to demonstrate the use of extensions with the software and to develop extensions further. Using copies of the software to determine source code would constitute a violation of the terms of agreement.

"The allegations in Splunk’s lawsuit are false, and we will defend against these baseless claims," Cribl stated in a blog post.

"We have built interoperability using our own hard work and open source implementations, such as Eventgen. While Splunk tries to stifle competition through litigation, we will keep our relentless focus on our customers to deliver them choice and control over their data."

Splunk has requested an injunction against Cribl, Clint Sharp and all associated Cribl entities, from further infringing Splunk copyrights. It has also requested an accounting of the profits that Cribl has made from the activity and subsequent damages. The company has requested a trial by jury.

"Proving infringement of copyright in source code, as Splunk is alleging here, tends to be difficult," said Michael Buckworth, founder at UK law firm Buckworths. "A former employee would be incredibly foolish to use a carbon copy of code he has misappropriated; rather he would likely recode the software to deliver substantially similar functionality.

"New code achieving the same outcome as existing code is unlikely to infringe copyright in existing code leaving the damaged party to look at patent infringement or breach of contractual obligations," he added.

"Splunk may believe that they can prove each allegation that they have made with the result that they could secure significant damages from Cribl, or even have it shut down.

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"Alternatively, this may be a strategic move to dry up investment and other financial support in Cribl. There is nothing that will turn off investors more than a high-profile IP dispute! Either way both parties will now need to prove their position and live with significant costs if they fail.”

Splunk operates in more than 21 regions internationally, providing customers with a suite that provides oversight over their data and allows them to conduct big data analytics. It also aims to Improve observability across multi-cloud environments. Last year it announced a new cloud security suite in addition to its other offerings.

Cribl supplies data management solutions to its customers, aiming to provide data flexibility and stack observability. Its service Cribl Stream is used by DevOps engineers and other industry professionals in order to process data in real time, supply context to data, and encrypt sensitive fields. 

IT Pro has approached Splunk for comment.

This article has been updated to include a statement from Cribl.

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Wed, 05 Oct 2022 23:01:00 -0500 en text/html https://www.itpro.co.uk/data-insights/data-management/369256/splunk-files-lawsuit-against-cribl-alleging-stolen-code
Killexams : Splunk Patent Case Vs An Ex-Employee's Growing Firm Has Merit, Analyst Says
  • Raymond James analyst Adam Tindle assigned Splunk Inc (NASDAQ: SPLK) a Moderately Aggressive Risk/Wealth Accumulation (MA/ACC) rating given its fast-growing market.

  • Splunk filed a lawsuit against Cribl, alleging infringement of numerous Splunk patents and unlawfully misappropriating Splunk's source code and other confidential materials.

  • Cribl founder and CEO was previously a Splunk employee. Splunk states he founded Cribl on code stolen from Splunk.

  • The analyst sees the nature of events as favorable to Splunk.

  • Considering Splunk does not have a track record of taking legal action and has previously attempted to resolve allegations privately, he thinks the company must feel confident in its chances.

  • Cribl's momentum may be a catalyst for the timing of this lawsuit, given ARR growth at 300% Y/Y in February and tripling its customer base, including 10 of the Fortune 50 (Splunk's core market).

  • Splunk urged Cribl to stop using Splunk's IP and for fair compensation.

  • The timing of a decision is unknown, with filing being the first step. With the size difference between the firms and Splunk's case indicating a positive outcome, he also cites an out-of-court settlement.

  • UBS analyst Karl Keirstead downgraded Splunk to Neutral from Buy with a price target of $86, down from $125.

  • The analyst's latest round of industry checks clarified the root cause of the company's recent $250 million annual recurring revenue guidance cut for 2023.

  • Also ReadBritish Chip Designer Arm Ropes In Splunk's Jason Child As Finance Chief

  • Price Action: SPLK shares traded lower by 5.23% at $78.95 on the last check Thursday.

Latest Ratings for SPLK

Date

Firm

Action

From

To

Mar 2022

Citigroup

Maintains

Neutral

Mar 2022

Goldman Sachs

Maintains

Buy

Mar 2022

Needham

Maintains

Buy

View More Analyst Ratings for SPLK

View the Latest Analyst Ratings

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© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Thu, 06 Oct 2022 14:25:00 -0500 en-US text/html https://www.yahoo.com/lifestyle/splunk-patent-case-vs-ex-192541248.html
Killexams : Splunk Appoints Richard P. Wallace and David Tunnell to Its Board of Directors

Splunk Inc. SPLK, the data platform leader for security and observability, today announced that Richard P. Wallace and David Tunnell have been appointed to the Splunk Board of Directors, effective immediately.

"I'm pleased to welcome Rick and David as our newest additions to the Splunk Board," said Graham Smith, Chair of the Splunk Board of Directors. "Rick is a well-regarded technology executive with over 30 years of experience scaling enterprises for long-term durable growth, and David brings an important shareholder perspective, over 25 years of financial expertise as well as a deep understanding of Splunk's business model. The Board looks forward to working closely with Rick and David as we continue to scale Splunk for the future and drive value for shareholders."

"Rick and David are highly respected, successful leaders, and each brings valuable skills and perspectives to the Company at this pivotal moment," said Gary Steele, President and Chief Executive Officer of Splunk. "Our leadership team is focused on executing our growth strategy and we are excited to benefit from the guidance and support of a strong, experienced and engaged Board of Directors."

"I've dedicated my career to building enduring companies that invent cutting-edge technologies to enable innovation, and I believe Splunk is well-positioned to capture its very large and growing addressable market," said Wallace. "I look forward to working with Graham, Gary and the rest of the Board to oversee the Company's strategy and deliver strong returns."

"Splunk is one of the foremost industry innovators, and I'm excited to join the Board at this key juncture," said Tunnell. "Hellman & Friedman has had a collaborative relationship with Splunk, and we're strongly supportive of the Board and management team and the work underway to transform the business through balanced growth and profitability. I'm committed to helping advance the Company's strategic priorities to support sustainable value creation."

The Company also announced that Stephen G. Newberry, a director since 2013, will step down from the Board; the Company previously announced that Sara Baack will also step down.

Smith continued, "We thank Steve and Sara for their dedicated years of service. They have provided valuable counsel throughout their tenure to support Splunk's growth and ambitious business transformation. We wish them the very best."

Splunk's Board has undergone significant change to reflect the dynamic nature of its business and the technology industry. With the appointments of Messrs. Wallace and Tunnell, and following the departures of Ms. Baack and Mr. Newberry, the Board will comprise 11 directors, 10 of whom are independent and five of whom have been appointed within the past 18 months.

The Board of Directors also announced that it has reorganized the Board's Talent & Compensation Committee. The Committee now comprises Graham Smith, who recently joined the Committee in April 2022, Kenneth Hao and Rick Wallace.

About Richard P. Wallace

Wallace serves as President, CEO and Director of KLA Corporation, a developer of industry-leading equipment and services that enable innovation throughout the electronics industry. Prior to being appointed CEO in 2006, he served in various leadership roles across KLA, including as Chief Operations Officer from July 2005 to December 2005, Executive Vice President of the Customer Group from May 2004 to July 2005, and Executive Vice President of the Wafer Inspection Group from July 2000 to May 2004. His tenure with KLA spans over 30 years, having started as an applications engineer at KLA Instruments in 1988. Prior to joining KLA, Wallace held positions at Ultratech Stepper and Cypress Semiconductor. He previously served on the board of directors of Proofpoint, a cybersecurity and compliance company, and SEMI (Semiconductor Equipment and Materials International), a prominent global industry association. Wallace holds a B.S. from the University of Michigan and an M.S. from Santa Clara University.

About David Tunnell

Tunnell is a Partner at Hellman & Friedman (H&F) and a member of the H&F Investment Committee. He leads the Firm's San Francisco office and oversees its investing activities in the Software & Tech and Insurance & Insurance Services sectors. David joined H&F originally in 1994 and has been involved with numerous portfolio companies over 25 years of H&F's investing history. He is currently serving as a director of the operating committee at Genesys Telecommunications Laboratories, Inc., a global customer-experience software platform provider, and as a director of the board at UKG (Ultimate Kronos Group), a global provider of human capital management, payroll and workforce management solutions. Prior to H&F, David was employed by Lazard Frères & Co. in New York. He holds an A.B. from Harvard University and an M.B.A from Harvard Business School.

Safe Harbor Statement

This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding Splunk's growth and transformation strategies and its goals and long-term prospects, including growth and profitability. There are a significant number of factors that could cause genuine results to differ materially from statements made in this press release, including those described in the company's Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2022, which is on file with the U.S. Securities and Exchange Commission ("SEC") and Splunk's other filings with the SEC. Splunk does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

About Splunk

Splunk Inc. SPLK helps organizations around the world turn data into doing. Splunk technology is designed to investigate, monitor, analyze and act on data at any scale.

Splunk, Splunk>, Data-to-Everything and Turn Data Into Doing are trademarks and registered trademarks of Splunk Inc. in the United States and other countries. All other brand names, product names, or trademarks belong to their respective owners. © 2022 Splunk Inc. All rights reserved.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Tue, 11 Oct 2022 09:54:00 -0500 text/html https://www.benzinga.com/pressreleases/22/10/b29227651/splunk-appoints-richard-p-wallace-and-david-tunnell-to-its-board-of-directors
Killexams : Splunk Files Intellectual Property Lawsuit Against Cribl

Asserts Cribl Willfully Infringes Splunk's Patents and Copyrights and Has Misappropriated Confidential Business and Technical Documents

Splunk Inc. SPLK, the data platform leader for security and observability, today announced that it filed a lawsuit against Cribl in the United States District Court for the District of Delaware, alleging patent infringement, copyright infringement, unfair competition, and other claims. The complaint alleges that Cribl infringes numerous Splunk copyrights and patents, and has unlawfully misappropriated Splunk source code and confidential materials.

Splunk's complaint alleges that Clint Sharp, CEO and Co-founder of Cribl, founded Cribl using code that he took from Splunk when he was a Splunk employee without permission or a license to do so. Splunk further alleges that Cribl and Mr. Sharp encouraged Splunk employees, who they recruited to Cribl, to misappropriate confidential technical and business documents from Splunk. Moreover, Splunk alleges that since then, Cribl has developed and marketed its software by, among other things, making unlicensed copies of Splunk's copyrighted software, and is willfully infringing numerous patents awarded to Splunk by the United States Patent and Trademark Office.

According to the complaint, Cribl is "a business built on the back of Splunk's labor and intellectual property, without license and without regard for ethics, the rights of others, or the law." The complaint explains further that unfortunately Cribl's actions left Splunk no choice but to file this lawsuit. While Splunk is disappointed that Cribl's behavior and wrongdoing have forced it to take this action, Splunk is confident the judicial process will determine that Cribl has infringed and misappropriated Splunk's intellectual property for Cribl's own benefit. This case is about Cribl's misconduct. Splunk is not changing how it works with customers and partners, and looks forward to continuing to help them leverage Splunk to drive great insights and effective results.

Splunk has long been a pioneer and leader in the data platform industry, as evidenced by the well over 1,000 patents that have been granted to Splunk by the United States Patent and Trademark Office. Splunk remains committed to protecting the foundational innovations that define its reputation and brand.

For additional information regarding Splunk's lawsuit against Cribl, please visit the Splunk blog.

About Splunk Inc.

Splunk Inc. SPLK helps organizations around the world turn data into doing. Splunk technology is designed to investigate, monitor, analyze and act on data at any scale.

Splunk, Splunk>, Data-to-Everything and Turn Data Into Doing are trademarks and registered trademarks of Splunk Inc. in the United States and other countries. All other brand names, product names, or trademarks belong to their respective owners. © 2022 Splunk Inc. All rights reserved.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Wed, 05 Oct 2022 04:26:00 -0500 text/html https://www.benzinga.com/pressreleases/22/10/b29160025/splunk-files-intellectual-property-lawsuit-against-cribl
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