CFLT - 2 Hypergrowth Tech Stocks to Buy in 2022 and Beyond
With so much economic uncertainty at the moment, stocks across various industries have been hit. Tech stocks have been hit especially hard, with the tech-heavy Nasdaq Composite index being down almost 31% year-to-date and plenty of individual stocks down even more.
The sell-off is unlikely to end tomorrow, but that doesn't mean it won't eventually end and that there aren't investment bargains out there. Some businesses are trading at their lowest valuations in a long time and have plenty of indicators suggesting they are appealing buys. The stock prices of Datadog (NASDAQ: DDOG) and Confluent (NASDAQ: CFLT) have fallen more than 56% and 81%, respectively, from their all-time highs. Those price drops have brought their valuations down to appealing levels. Now might be a good time to take a closer look at these two hypergrowth tech stocks.
Datadog helps businesses with observability, something that any company with digital applications or infrastructure needs to have. Ensuring that your cloud operations are operational and running smoothly is critical, and as the leader in the space, Datadog could capitalize on this $42 billion market.
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2 Hypergrowth Tech Stocks to Buy in 2022 and Beyond