Confluent Rides Kafka Momentum as Analysts Eye AI Tailwinds

Confluent, Inc. (NASDAQ:CFLT) is one of the fastest-growing AI stocks to invest in now. On October 9, Citi’s Tyler Radke maintained Neutral on Confluent and raised the 12-month price target to $25 (from $20).

On September 30, Wells Fargo initiated coverage at Overweight with a $24 target under analyst Ryan Macwilliams. In press summaries of the initiation, Wells Fargo characterized Confluent as an “underappreciated AI beneficiary” and argued that DIY Kafka-based builds are often overstated as a cheaper alternative at scale.

Confluent Rides Kafka Momentum as Analysts Eye AI Tailwinds

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Confluent, Inc. (NASDAQ:CFLT) was founded in 2014 by the original creators of Apache Kafka: Jay Kreps, Jun Rao, and Neha Narkhede, and provides a managed data-streaming platform (Confluent Cloud/Platform) widely used to move and process real-time event data that underpins analytics and AI workloads.

While we acknowledge the potential of CFLT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CFLT and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.