Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Needham & Company analyst Mike Cikos initiated coverage on Confluent Inc (NASDAQ:CFLT) with a Buy rating and a price target of $35.
- The analyst is bullish on the solid prospect of open-source Kafka, which has over 5 million unique downloads and is used by over 80% of the Fortune 100 companies, enabling consumer migration to Confluent's solutions.
- The analyst sees Confluent's development of a fully-managed Flink offering, potentially echoing Kafka adoption, as a growth driver.
- Confluent expects to introduce a fully managed Flink offering in late 2023, with recognized revenues growing in 2024. The analyst projects a potential tie-up of Kafka and Flink to drive strong demand.
- Going forward, the analyst expects increased usage of data streaming for real-time data processing by organizations to strengthen CLFT's position in the category.
- Cikos expects revenues of $763.7 million in 2023 and $968.7 million in 2024 and projects EPS of $(0.17) in 2023 and $0.15 in 2024.
- Also Read: Confluent's Profitability Pivot And Growth Potential Drive Analyst Upgrade, Stock Rises
- Price Action: CFLT shares are trading higher by 7.70% at $30.92 on the last check Tuesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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