Canaccord starts streaming ‘stand out’ Confluent with a Buy

As previously reported, Canaccord analyst Kingsley Crane initiated coverage of Confluent with a Buy rating and $40 price target. In a rapidly growing, highly fragmented data streaming landscape, Confluent “stands out” with its Apache Kafka, a “ubiquitous open-source event streaming technology,” the analyst tells investors. The vast majority of data streams in Confluent Cloud are linked downstream to some form of application code processing or reacting to that stream of data and the opportunity in stream processing with Flink “could be as large” as the core market, the analyst added.