- Credit Suisse analyst Phil Winslow initiated coverage of Confluent Inc CFLT with an Outperform rating and $115 price target, implying a 43.8% upside.
- Winslow believes Confluent is well-positioned to capitalize on increased enterprise adoption of the data-in-motion technology by providing the leading cloud-independent, fully-managed Kafka service as well as an on-premises platform that completes Kafka with enterprise-grade capabilities.
- He is encouraged by the growing traction of Confluent Cloud.
- Winslow expects the company to continue to leverage its cloud-native differentiation and the service's easy buying motion to drive growth above consensus expectations.
- Price Action: CFLT shares traded higher by 6.24% at $84.99 in the premarket session on the last check Tuesday.
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