share_log

A Quick Look at Today's Ratings for Confluent(CFLT.US), With a Forecast Between $25 to $40

Futu News ·  Oct 31 21:00  · Ratings

On Oct 31, major Wall Street analysts update their ratings for $Confluent (CFLT.US)$, with price targets ranging from $25 to $40.

Morgan Stanley analyst Sanjit Singh maintains with a buy rating, and adjusts the target price from $32 to $33.

Barclays analyst Raimo Lenschow maintains with a buy rating, and adjusts the target price from $29 to $32.

Wells Fargo analyst Michael Turrin maintains with a buy rating, and adjusts the target price from $34 to $35.

TD Cowen analyst Derrick Wood maintains with a buy rating, and adjusts the target price from $27 to $31.

Loop Capital analyst Yun Kim maintains with a hold rating, and maintains the target price at $25.

Furthermore, according to the comprehensive report, the opinions of $Confluent (CFLT.US)$'s main analysts recently are as follows:

  • The firm remains 'comfortable' on the sidelines despite the company's sequential revenue outperformance in the Cloud segment and confirmation of the anticipated subscription revenue for Q4. Confluent's emphasis on substantial digital native customers was reiterated, and there is a belief that the significant reliance on this customer subset enhances the risk profile.

  • The company's Cloud results exceeded expectations and saw acceleration, a factor deemed crucial for investors. With the Flink contribution poised to become significant in upcoming quarters, it is suggested that the company's growth narrative has further potential to unfold.

  • The firm perceives a 'relatively positive set-up' leading into the Q3 results, with potential for exceeding estimates, particularly due to significant platform renewals and robust government sector performance. Concurrently, the firm noted varied feedback regarding cloud commitment utilization.

  • Confluent's third quarter performance outpaced expectations, with a 25% year-over-year rise in Subscription revenue surpassing the anticipated 23.5%. Additionally, a significant uptick in Cloud revenue marked a 42% year-over-year increase, outperforming the forecasted 37%. The ongoing shift towards managed data stream processing solutions is expected to continue, positioning Confluent to benefit from the rising adoption of data streaming over the medium to long term.

  • The company exhibited a robust quarter, marked by a 27% expansion in subscriptions and a 42% surge in cloud growth, outperforming both consensus estimates and the upper spectrum of guidance. Despite a one-time cloud deal in Q3 contributing to the figures, the underlying momentum remained solid with a stabilization in consumption among digitally-native customers and an increase in new use cases by large cloud customers.

Here are the latest investment ratings and price targets for $Confluent (CFLT.US)$ from 14 analysts:

StockTodayLatestRating_nn_80719615584756_20241031_en

Note:

TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.

Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.

TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
    Write a comment