CFLT - Is Confluent Stock a Buy Now?
2023-04-25 06:10:00 ET
Shares of Confluent (NASDAQ: CFLT) lost 28% of their value in the past year amid the broader stock market sell-off, and the bad news is that the data streaming platform provider is underperforming in 2023 as well.
Confluent's stock gained just 10% so far this year. For comparison, the tech-heavy Nasdaq-100 is up nearly 19% in 2023. It is worth noting that Confluent stock lost momentum after a solid start to the year. But this could be an opportunity for savvy investors to buy the stock before it regains its mojo. Let's see why.
Confluent's offerings enable users to derive real-time insights from data. The company sees huge demand for its data-in-motion offerings as they help organizations save time and costs by connecting and processing their data in real-time.
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Is Confluent Stock a Buy Now?