Splunk Stock Too Expensive Despite Exceptional Cloud Growth

NEW YORK (The Street) -- With better-than-expected results coming in from Salesforce.com , there appears to be no slowing down in the fast-growing cloud and Big Data solutions markets. Although Splunk , whose shares are up 16% year to date, has been a beneficiary of strong cloud demand, there's nothing about the stock today that screams value. At around $68 a share, Splunk's price-to-earnings ratio is 766 factoring in Splunk's 9 cent-a-share earnings in its last fiscal year. That P/E is 36 t...