10/22/2023 0 Comments Splunk ceo newsSplunk stock has risen about 120% since Merritt became CEO, compared with 125% growth in the S&P 500 index over the same period. Splunk reported $605.7 million in quarterly revenue in August, up 23% year over year, while cloud revenue, at $217.4 million, was up 73%. Other enterprise software companies, such as Adobe, Autodesk and Microsoft have gone through similar adjustments. First, Splunk CEO Doug Merritt joins Cramer fresh off the. The CEO transition is "an additional concern" the company is dealing with, on top of risks such as increasing competition from public cloud providers, entry into the observability market and the ongoing business model evolution, KeyBanc analysts led by Michael Turits, who have the equivalent of a hold rating on Splunk stock, wrote in a note distributed to clients.ĭuring Merritt's tenure Splunk has been shifting more toward providing its software as a cloud service, which has impacted revenue and operating margins. The Dow closed up 199 points and Jim Cramer is breaking down the biggest news of the day. Smith is a former chief financial officer of Salesforce who joined Splunk's board in 2011. Merritt joined Splunk as a senior vice president in 2014 after stints at Cisco, PeopleSoft and SAP, and in 2015 he replaced Godfrey Sullivan as Splunk's CEO, who had taken the company public in 2012. I’ve spent the last 35+ years in the tech industry, where I’ve turned a. I’m excited to join your amazing company, and since the official announcement has gone out this afternoon, I wanted to make a direct introduction here. The leadership change creates more uncertainty for a company working to become viewed more like a cloud company than a seller of more traditional on-premises software. An Exciting New Chapter Together Splunkers, it’s my honor to take this opportunity to introduce myself to you. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit Dropbox CEO Drew Houston and Splunk CEO Douglas Merritt both recently bought homes in Austin, with plans to make the Texas capital their permanent residences, they have told people at their firms.
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