Why Cloudflare, Confluent, and Other Cloud Stocks Soared This Week
There's no question that the primary driver of the stock market over the past year or so has been the state of the economy. High inflation, rising interest rates, various political dramas, and concerns about a potential recession have all weighed on the market.
Yet investor sentiment has been rising in recent weeks, as earnings season showed that the sky was not falling, contrary to popular belief. Furthermore, slowly but steadily improving economic conditions are fueling investor hopes for a so-called "soft landing," with the economy ultimately avoiding a recession.
With that as a backdrop, Cloudflare (NYSE: NET) rose 19.3%, Confluent (NASDAQ: CFLT) climbed 18.5%, and (NASDAQ: SPLK) jumped 13.3% for the week, as of 11:11 a.m. on Friday, according to data provided by S&P Global Market Intelligence.
Source Fool.com
Splunk Inc. Stock
With 26 Buy predictions and 1 Sell predictions Splunk Inc. is one of the favorites of our community.
With a target price of 147 € there is a slightly positive potential of 2.0% for Splunk Inc. compared to the current price of 144.12 €.
