We recently published 10 Stocks With Double-Digit to 100% Upside in Just a Week. Confluent Inc. (NASDAQ:CFLT) is one of the worst performers on Friday.
Shares of Confluent Inc. (NASDAQ:CFLT) jumped by 11.6 percent week-on-week, with sentiment primarily bolstered by a broader market optimism over the increased possibility of an interest rate cut, while investors digested one of its counterparts’ impressive earnings performance.
During the past trading week, climbed by as much as 14 percent before trimming gains toward the end of Friday’s session, after its data analytics peer, MongoDB (NASDAQ:MDB) said it was able to narrow its net loss by 13.76 percent to $47 million from $54.5 million in the same period last year, on the back of a 23.7-percent increase in revenues to $591 million from $478 million.
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MongoDB’s (NASDAQ:MDB) optimistic results spilled over to stocks of data analytics companies, on expectations of strong demand for their business models.
In other news, Confluent Inc. (NASDAQ:CFLT) said that its management is set to present at the Goldman Sachs Communacopia + Technology Conference on September 8, at 1 PM Eastern Time. Investors will closely watch out for cues from the company on business plans and outlooks.
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Disclosure: None. This article is originally published at Insider Monkey.
