Confluent (NASDAQ: CFLT) is a leading developer of data streaming technologies that power many of our online experiences. Stock brokerage platforms use it to feed live pricing data directly to clients, and e-commerce websites use it to provide real-time inventory information to shoppers.

As more of our everyday lives migrate into the digital age, the demand for data streaming will only grow. Confluent just reported its financial results for the second quarter of 2024 (ended June 30), and the company's strong revenue growth reflected that trend.

Confluent stock is trading 79% below its all-time high, set during the tech frenzy in 2021. It was relatively overvalued back then, but the majority of analysts tracked by The Wall Street Journal have now assigned it the highest possible buy rating. Here's why investors might want to follow their lead.

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Source Fool.com