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NET - Better Growth Stock: Cloudflare vs. Confluent
Cloudflare Inc - Class A
2023-07-25 11:05:44 ET
Cloudflare (NYSE: NET) and Confluent (NASDAQ: CFLT) both saw their share prices hit record highs during the peak of the growth rally in November 2021. But today Cloudflare and Confluent trade about 70% and 60% below their all-time highs.
Both hypergrowth darlings lost their luster as the macro headwinds throttled their revenue growth and rising interest rates popped their bubbly valuations. Should investors buy either of these out-of-favor stocks as a turnaround play today?