JMP Securities Reiterates Market Outperform Rating on Confluent Inc (CFLT)
JMP Securities analyst Patrick Walravens reiterated a Market Outperform rating and $40.00 price target on Confluent Inc (NASDAQ: CFLT).
The analyst commented, “We view Confluent as an attractive opportunity for long-term capital appreciation for a number of reasons including: 1) the company offers the leading and broadest data streaming platform, with capabilities to Stream, Connect, Process, and Govern; 2) Confluent addresses a large total addressable market that it estimates to be $60B; 3) helping to offset investor concerns about Snowflake potentially acquiring a small data streaming competitor named Redpanda.”
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Shares of Confluent Inc closed at $30.10 yesterday.