Truist analyst Miller Jump raised the firm’s price target on Confluent to $42 from $30 and keeps a Buy rating on the shares after the company’s investor day presentation. The firm sees Confluent as a likely beneficiary from increased investments in the AI space as companies look to leverage their own data with third party models and plugins to drive business value, the analyst tells investors in a research note. Truist further cites the company’s management having spent a significant amount of time detailing the AI impacts that they see from here, which could provide a durable growth tailwind for the business.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on CFLT:
- Morgan Stanley came away from investor day positive on Confluent opportunity
- Confluent price target raised to $31 from $20 at JPMorgan
- Confluent price target raised to $40 from $28 at TD Cowen
- Confluent price target raised to $40 from $28 at Mizuho
- Confluent price target raised to $39 from $24 at UBS
