Data Streaming Genie Is Out Of The Bottle, Confluent Positioned To Capitalize: Analyst
Portfolio Pulse from Lekha Gupta
Needham & Company analyst Mike Cikos initiated coverage on Confluent Inc (NASDAQ:CFLT) with a Buy rating and a price target of $35. The analyst is bullish on the solid prospect of open-source Kafka and Confluent's development of a fully-managed Flink offering, potentially driving growth. Cikos expects revenues of $763.7 million in 2023 and $968.7 million in 2024.
May 30, 2023 | 6:25 pm
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Needham & Company analyst Mike Cikos initiated coverage on Confluent Inc with a Buy rating and a price target of $35, bullish on open-source Kafka and the development of a fully-managed Flink offering.
The analyst's Buy rating and price target of $35 for Confluent Inc (CFLT) indicate a positive outlook for the company. The bullish stance is based on the solid prospect of open-source Kafka and the development of a fully-managed Flink offering, which are expected to drive growth and increase revenues in the coming years. This news is likely to have a positive short-term impact on CFLT's stock price.
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IMPORTANCE 80
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