CFLT - 1 Unstoppable Stock Down 61% to Buy Hand Over Fist According to Wall Street
2023-08-05 10:30:00 ET
The U.S. corporate world is currently in the middle of an important reporting season for the quarter ended June 30. Given the tough economic climate with elevated inflation and rising interest rates, investors are watching companies' performance closely to see how they're navigating the challenge.
Confluent (NASDAQ: CFLT) is a leading data streaming platform which reported its second-quarter results on Aug. 2. They beat the company's own guidance, much to the delight of investors, who sent Confluent stock surging 9% higher immediately after the release.
But beating expectations is a habit for this company, and Wall Street has noticed. The Wall Street Journal tracks 25 analysts covering Confluent stock, and they're overwhelmingly bullish on its prospects. In fact, not a single analyst recommends selling. Here's why.
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1 Unstoppable Stock Down 61% to Buy Hand Over Fist, According to Wall Street