Why Splunk Stock Is a Good Long-Term Investment

Before the tech-stock rout that kicked off 2022, shares of data analytics firm Splunk (NASDAQ: SPLK) were already battered by the departure of its CEO last November. The stock had reached a 52-week high of $176.66 just days before the CEO's departure was announced. Now shares are around $118 at the time of this writing.

A bearish outlook toward Splunk is understandable since the heart of every good organization is its leadership team. But analyze the company and it's clear that it has notched many accomplishments.

One of Splunk's key objectives is to transition away from selling software licenses, switching to a cloud-based software subscription model. Digging into this and other aspects of its business illustrates why Splunk is a solid long-term investment.

Source Fool.com