12 AI Stocks on Wall Street’s Radar Today

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9. Confluent, Inc. (NASDAQ:CFLT)

Number of Hedge Fund Holders: 49

Confluent, Inc. (NASDAQ:CFLT) operates a data streaming platform in the United States and internationally that allows organizations to continuously stream, connect, process, and manage data in real-time across various systems. On March 10, Citizens JMP analyst Patrick Walravens reiterated a “Market Outperform” rating and $40.00 price target on the stock. The firm believes that Confluent is poised to tap into a significant total addressable market, anticipated to reach $100 billion by 2025.

The company’s partnership with Databricks is particularly notable as it is expected to open up additional sales avenues in the AI sector. Its recent developments like Tableflow, a major component of the Databricks collaboration, and bring your own cloud (BYOC) product, reflect on its innovation capabilities. The firm is also optimistic about Confluent’s management team led by CEO Jay Kreps. All of these factors contribute to a positive outlook for the stock.

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