Wells Fargo Maintains Overweight Rating for Confluent: Here's What You Need To Know

Wells Fargo has decided to maintain its Overweight rating of Confluent CFLT and raise its price target from $35.00 to $41.00.

Shares of Confluent are trading down 6.83% over the last 24 hours, at $34.60 per share.

A move to $41.00 would account for a 18.48% increase from the current share price.

About Confluent

Confluent Inc is a new category of data infrastructure designed to connect all the applications, systems, and data layers of a company around a real-time central nervous system. Its products include Confluent Platform; Connectors; ksqlDB and others. The company generates revenue from the sale of subscriptions and services. Geographically, it derives a majority of its revenue from the United States. It provides solutions to Financial Services; Insurance; Retail and eCommerce; Automotive; Government and other sectors.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.