Should You Invest in Splunk Right Now?

Cloud computing is a large, fast-growing industry that's expected to grow at a rate of nearly 18% annually to reach $791 billion by 2028. With such a big market opportunity, there have been lots of players entering the space, and Splunk (NASDAQ: SPLK) is one of them.

Shares of the company are trading almost 50% off the all-time highs set in late 2020, which has brought its valuation down to 7.4 times sales -- a valuation that Splunk has reached only a handful of times in its almost 10-year life as a public company. Is now the time to take advantage of this rock-bottom multiple?

Image source: Getty Images

Source Fool.com