The professionals on Wall Street don't always get things right, but when a clear consensus emerges, it's worth paying attention. A group of analysts tracked by The Wall Street Journal is collectively very bullish on Splunk (NASDAQ: SPLK), a machine learning powerhouse that is chasing a $100 billion market opportunity.

The company just released its financial results for the third quarter of fiscal 2023 (ended Oct. 31), and it revealed red-hot top-line growth with a drastic improvement in its bottom-line losses. Here's why Wall Street is backing Splunk stock, and why investors should consider following its lead. 

Splunk has developed advanced machine learning technology to help businesses draw unique insights from their everyday operations and customer interactions. With the onset of cloud computing, more organizations are conducting business online, and generating mountains of data is a side effect of that shift.

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Source Fool.com