SplunkNASDAQ: SPLK

Cisco Systems Inc (NASDAQ: CSCO) stock has underperformed this year, falling by about 9% since early January. Cisco's product sales have seen a slowdown as customers have been focused on installing and implementing the products purchased over the last few quarters.

SAN FRANCISCO--(BUSINESS WIRE)-- #splunknews--Splunk Inc., the cybersecurity and observability leader, today announced it will host its 15th annual user conference, .conf24, from June 11-14, 2024, at The Venetian Las Vegas. During the event, Splunk will showcase the power of its unified security and observability platform as attendees from around the globe take part in educational sessions, compelling keynotes and interactive experiences that will make their organizations more resilient. To attend .conf24, p.

Cisco and Splunk Enable Unparalleled Visibility and Real-Time Insights to Standardize Observability in One Solution News Summary:  The new Unified Observability Experience offers customers a cohesive experience across Cisco and Splunk observability solutions, while establishing the foundation for future integrations. Integration and new innovations empower customers with best in class support for both traditional and modern application architectures and visibility across their entire digital footprint.

Cisco exceeded expectations for both EPS and revenue, leading to an increase in its projected 2024 revenue to $53.6-$53.8 billion. Despite this positive news, the stock price only dropped slightly by 0.13%. Analysts believe the fair stock price estimate is $63.63, with a future target of $92.46 by 2029, indicating a "strong-buy" rating and suggesting a potential 28.1% upside and 14.4% annual return. Cisco's valuation is further strengthened by the acquisition of Splunk, which is expected to bring in additional revenue of around $4.21 billion, potentially growing to $5.62 billion for FY2025 as Cisco integrates Splunk into its customer base.

The imminent merger between Splunk (SPLK) and Cisco heralds a new era of innovation in AI-driven cybersecurity solutions.

A healthy traction in the cloud business enabled Splunk (SPLK) to beat fourth-quarter fiscal 2024 earnings estimates.

Although the revenue and EPS for Splunk (SPLK) give a sense of how its business performed in the quarter ended January 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Splunk Inc is trading up in extended hours on Tuesday after reporting market-beating financial results for its fourth quarter. Splunk saw operating expenses increase 6.5% in Q4 The stock is being rewarded because the cybersecurity company saw its cloud revenue jump a whopping 26% year-on-year to $1.837 billion in Q4.

Splunk (SPLK) is likely to have witnessed modest top-line growth in the fourth quarter of fiscal 2024, driven by growing user engagement in its platform, strategic acquisitions and AI integration.