SNOW - Better Cloud Growth Stock: Confluent vs. Snowflake
2023-04-07 05:45:00 ET
Confluent (NASDAQ: CFLT) and Snowflake (NYSE: SNOW) both help companies break down silos and organize large amounts of data. Confluent's cloud-based platform processes and analyzes "data in motion" as it streams between applications. Snowflake pulls data from a wide range of applications into a cloud-based data warehouse where it can be easily accessed by third-party analytics services.
Both silo-busting stocks hit record highs during the buying frenzy in growth stocks in 2021. But since then both stocks have withered as rising interest rates drove investors toward more conservative investments. Confluent's stock price is down nearly 80% from its all-time high, while Snowflake's market cap has melted by more than 60%. Could either of these out-of-favor hyper-growth stocks be worth buying again in this unpredictable market?
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Better Cloud Growth Stock: Confluent vs. Snowflake