CFLT - 1 Unstoppable Stock Down 81% to Buy Hand Over Fist According to Wall Street
2023-11-14 06:06:00 ET
According to the International Data Corporation, 90% of the world's 1,000 largest companies will use data streaming by 2025. Confluent (NASDAQ: CFLT) is a leader in the industry, and it believes its opportunity is worth $60 billion right now -- considering the company is valued at just $5.4 billion, that implies a long runway for growth.
Data streaming is a relatively new technology born from the cloud computing revolution, but every investor should understand it. Don't worry, I'll explain how it works in a moment.
One thing is clear: Wall Street is very bullish on the opportunity. The Wall Street Journal tracks 27 analysts covering Confluent stock, and the majority have given it the highest-possible buy rating. Not a single one recommends selling. Given the stock trades 81% below its all-time high, here's why now might be the time for investors to follow Wall Street's lead.
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1 Unstoppable Stock Down 81% to Buy Hand Over Fist, According to Wall Street