Definitely still a hold in my eyes. The acquisition is viewed as expansive, but we do have to understand Google has a very strong history of making strategic acquisitions, mostly all of which were deemed as "too much money" when they happened. Google paid an astronomical amount of money for Youtube relative to its revenue, around $1.6B back in 2006. Now, Youtube generates over $36B in revenue a year.
It just acquired the fastest growing software company in history. Wiz is the fastest ever to reach $500M in annual recurring revenue. Google can not only integrate this into its current systems to improve its cloud security (which is going to be a gigantic element moving forward) but also build out the business overall to other cloud providers.
Heavy price to pay, but also lots of potential here. We will see if it works out. I am betting on the fact it does.