CFLT - 1 Promising Stock to Put on Your Watchlist
2023-07-16 07:25:00 ET
In a tough economy, far fewer enterprise software companies are growing at strong double-digit rates compared with a couple of years ago. Confluent (NASDAQ: CFLT) is one of those companies. While there are a few reasons for investors to be hesitant, Confluent belongs on any growth investors' watchlist.
Think about any modern web service, comprised of many disparate systems across multiple clouds and data centers that need to communicate with each other in real-time, and it becomes clear that a powerful glue that holds everything together is practically a necessity.
Imagine a financial institution that processes transactions. When a customer swipes a credit card, a huge number of different processes may be kicked off behind the scenes, some dependent on others. There may be services to score the transaction for fraud risk, which likely require historical transaction data and other pieces of information. There may be services that send notifications, services that update data, and services responsible for calculating credit card rewards. New services may be added over time, and others may be removed.
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1 Promising Stock to Put on Your Watchlist