This innovator trades at an attractive discount
Confluent(
CFLT-9.00%)provides data-streaming services that are helping businesses rise to the demands of the next stages of analytics.
Rather than storing data locally and analyzing it, the company offers services built on top of the open-source Apache Kafka software that allow data to be streamed, analyzed, and acted on in real time. In many ways, this "data in motion" approach is better suited for the evolution of analytics and the explosion of new data than the "data at rest" approach that's still far more common.
Confluent provides two core service offerings: one that can be used for on-premise, cloud, and hybrid platforms, and another specifically tailored for cloud-only setups. Between these two product families, the company is positioned to meet the needs of any business seeking data-streaming services, and it has a promising growth outlook.
The data-streaming specialist went public last June, and its valuation immediately jumped. However, its share price has since pulled back amid guidance for another substantial loss this year and increased investor aversion to
growth-dependent software stocks. Confluent is now down roughly 26% from market close on the day of its IPO and 65% from its high.
NASDAQ: CFLT
Confluent, Inc.
Today's Change
(-9.00%) -$3.09
Current Price
$31.24
KEY DATA POINTS
Market Cap
$9B
Day's Range
$31.12 - $35.33
52wk Range
$28.03 - $94.97
Volume
2,290,006
Avg Vol
2,796,628
P/E (ttm)
Confluent is growing at an impressive clip
The data-services company posted incredible results last year, with sales growth actually accelerating compared to the already-fantastic performance it recorded in 2020.