Because of the accounting shenanigans that transpired during its transition from a license-based on-premises offering to a subscription-based cloud model, Splunk (NASDAQ: SPLK) posted confusing fiscal fourth-quarter results last week. Despite a strong and reassuring performance from its cloud business, revenue declined year over year.
So at more than 30% below its summer all-time highs, is Splunk stock a buy?
A decade ago, Splunk's core business consisted of providing on-premises Security Incident Event Management (SIEM) solutions for enterprises to centralize and analyze the information generated by their servers, networking gears, and computing infrastructure devices.
Source Fool.com