TD Cowen analyst Derrick Wood has revised the price target for Confluent (CFLT, Financial), adjusting it from $41 to $34, while maintaining a Buy rating for the company’s stock. The decision comes following an analysis that indicates a robust performance in the first quarter, along with continued progress in areas such as DSP and Flink.
Although Confluent operates on a consumption-based model and has some exposure to U.S. federal spending, TD Cowen believes it offers more resilience compared to seat-based models. The firm's confidence is bolstered by Confluent's advancing position in the generative AI sector, where it anticipates more stable investment activity.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 32 analysts, the average target price for Confluent Inc (CFLT, Financial) is $36.02 with a high estimate of $42.00 and a low estimate of $25.00. The average target implies an upside of 66.39% from the current price of $21.65. More detailed estimate data can be found on the Confluent Inc (CFLT) Forecast page.
Based on the consensus recommendation from 34 brokerage firms, Confluent Inc's (CFLT, Financial) average brokerage recommendation is currently 2.1, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Confluent Inc (CFLT, Financial) in one year is $43.54, suggesting a upside of 101.11% from the current price of $21.65. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Confluent Inc (CFLT) Summary page.
