Deutsche Bank analyst Brad Zelnick upgraded Confluent to Buy from Hold with a price target of $28, down from $32. The company has "significant white space" for adoption as data streaming becomes ubiquitous, the analyst tells investors in a research note. The firm expects 2023 to be another volatile year for software stocks with investors seeking confirmation of a bottom as fundamentals :likely deteriorate further." The analyst prefers earlier cycle names within software for 2023 over later ones, and tells investors to "selectively begin picking away at quality growth."
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on CFLT:
