Wolfe Research initiated coverage of Confluent with a Peer Perform rating and no price target. The world is moving to leveraging real-time data and Confluent is seeing secular tailwinds from “an explosion” in data volumes, applications, and now Generative AI, a trend of which the company is “a clear beneficiary.” While the firm believes “the crown for data streaming” remains on Confluent, with rising competition, elevated execution risk, and decelerating metrics, it sees shares pricing in the opportunity ahead, says the analyst, who estimates a fair value range of $27-$36 for the stock.
Published first on TheFly
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