9 Trending AI News Updates on Wall Street’s Radar

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1. Confluent, Inc. (NASDAQ:CFLT)

Number of Hedge Fund Holders: 39

Confluent, Inc. (NASDAQ:CFLT) provides a data streaming platform with real-time and cloud-native solutions for various industries.

On February 6, TD Cowen raised Confluent’s (NASDAQ:CFLT) price target to $37 from $31 while maintaining a Buy rating. The firm is optimistic about the company’s 4Q performance and FY25 outlook, and mentioned growth in GenAI and improved Flink go-to-market strategies. Solid demand trends and the increasing adoption of GenAI applications are expected to drive growth, along with stronger cross-selling opportunities. The firm expects a solid 4Q beat and sees the stock as attractive given its growth potential and AI-driven catalysts.

While we acknowledge the potential of Confluent, Inc. (NASDAQ:CFLT) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than CFLT but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

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