Confluent Inc. (NASDAQ: CFLT) has lost about 65% of its value since the beginning of the year. However, according to some Wall Street analysts, the stock’s price might more than quadruple in the next 12 to 18 months.
CFLT is a real-time data transmission platform designed primarily to grow the open-source Apache Kafka software, which is utilized by 80% of the Fortune 100. Confluent Inc. (CFLT) presently boasts approximately 4,000 clients, including Walmart, the largest retailer in the United States. The merchant employs platform features to swiftly update stock information.
Confluent’s revenue is steadily increasing. CFLT had 857 clients spending $100,000 or more years in the second quarter of 2022, up 39% year on year. Furthermore, the number of consumers spending $1 million or more each year climbed by 53% to 107. Confluent’s backlog increased 81% to $591 million in the second quarter.
Confluent Inc. (CFLT)’s loss climbed to $118 million in the fourth quarter due to increased spending on research and development. However, the company’s financial sheet contains about $2 billion, providing a margin of safety as well as opportunities for development and investment.
According to Credit Suisse analysts, Confluent Inc. (CFLT)’s share price might grow to $65 in the next 12-18 months, representing a 130% increase from its current price. Because the company’s innovative solutions are obtaining increasing commercial value, demand for them will only increase in the long run. As a result, the current share price may be an excellent moment to invest.
Confluent Inc. (NASDAQ: CFLT) shares are down -64.11% year to date (YTD) and have been down -0.33% or -$0.09 in the most recent trading session. However, the stock’s 12-month performance is still roughly -51.06% worse. The stock is down -37.16% in the last six months and up 31.41% in the last three months. When we look at the shorter timeframe, the week performance is down -5.23% and the month performance is down 1.94%.