#Splunk stock twits software

We picked Securonix because it is a cloud-based software as a service, its analyzes data and quickly generates insights, and its pricing is flexible - offering monthly prices or per-user prices rather than on the basis of data usage - the incumbent’s pricing approach.” As Felipe Boucas, Director of Verizon Enterprise Solutions, told me in a May 22 interview, “We did an extensive evaluation of all the SIEM players. Verizon selected Securonix to provide SIEM services as part of its managed security service. Compared to “traditional SIEM providers,” Booz Allen concluded that Securonix would enable it to offer customers more cost-effective protection against threats with a lower rate of false positive threat alerts, less time-consuming deployments, and lower maintenance costs. We are replacing ArcSight, IBM, and Splunk due to our better pricing, and our analytics-driven, purpose-built application in eight of 10 proofs of concept ” Nayyar told me in a May 14 interview.īooz Allen and Verizon VZ recently partnered with Securonix.īooz Allen is using Securonix as part of a cloud-based SIEM service that it’s offering, according to a May 14 press release. Unlike Splunk, we offer predictable pricing based on the number of users. “Between 20, we grew at over 500% and in 2020 we expect to grow at 150% to between $65 million and $75 million in annual recurring revenues. The company said it is growing at triple-digit rates.

Securonix’s platform meets this need through “detection and response, attack contextualization, log management and around the clock monitoring,” according to its CEO Sachin Nayyar. Its platform offers customers a cloud-native SIEM service that enables organizations to defend their businesses from cyber threats. Securonix is growing much faster than Splunk - albeit from a smaller base. For the seventh year in a row, Splunk was named a ‘Leader’ in its 2020 Magic Quadrant for SIEM - ranking Splunk the best in the industry for the highest overall ‘Ability to Execute.’”

As Merritt said, “We.set up a whole structure between our sales team and finance to be able to work rapidly and cooperatively with customers that needed some different payment structure given the various budget and cash needs that everyone's trying to face right now.” Splunk’s response to this competitive pricing pressure is to resist changing its approach unless customers demand it. they make it difficult to predict how much SIEM will cost because the more events you send to the database the more you pay.” As Exabeam’s CEO Nir Polak told me, “Splunk encourages customers to hire their Ninjas - database administrators who sift through the data. IBM said it was confident in its product and Splunk keeps growing rapidly despite a pricing strategy that makes it difficult for companies to predict their budgets. I have written about other rivals - including Sumo Logic and Exabeam - the latter having told me in 2018 that it won 70% of the competitive face-offs against Splunk and many battles against IBM’s QRadar. Splunk faces plenty of competitors - including Rapid7, RSA, and McAfee. For the remainder of the year we're withdrawing our guidance for revenue and operating margin.” Specifically, we expect total revenues of approximately $520 million in Q2 and non-GAAP operating margin of negative 10% to negative 15% in Q2. Splunk expects slower revenue growth and lower margins for the quarter ending in June and it withdrew guidance for the rest of 2020.Īs its CFO, Jason Child said in the conference call, ”Our revenue and operating margin targets are lower for the second quarter than our original plan. Customers benefited from “faster time-to-value from cloud, business continuity and risk avoidance, higher quality experience with decreased complexity and an accelerated rate of innovation through faster releases and improvements gleaned from real-time cross-customer insights.” For the three months ending March 31, Splunk’s annual recurring revenues grew 52% as the company increased to 44% the percentage of revenue coming from its cloud-based service.Īs CEO Doug Merritt said, customers shifted to its cloud-based service as a response to Covid-19. In a May 22 investor conference call, Splunk reported that is was growing nearly 10 times faster than the industry. Therefore, it is growing faster than the $4.2 billion (2020 revenues) SIEM market which is expected to grow at a 5.5% annual rate to $5.5 billion by 2025, according to Markets and Markets. Publicly-traded Splunk dominates this industry and its stock is soaring - up 15% in 2020 to a record $184.26, as of May 27, (while the S&P 500 dropped 8%).

Splunk stock twits