Top 10 AI News Updates Analysts are Monitoring

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1. Confluent Inc (NASDAQ:CFLT)

Number of Hedge Fund Holders: 48

Confluent Inc (NASDAQ:CFLT) is a technology company that provides a cloud-native data streaming platform, that allows organizations to continuously stream, connect, process, and manage data in real-time across various systems. Additionally, the company provides data streaming infrastructure that powers real-time AI applications. It also offers a platform for building next-generation data-intensive AI applications. Citi analyst Tyler Radke reiterated a Neutral rating on the stock on February 24 and increased the price target to $37 from $33.

The price hike comes on Confluent Inc (NASDAQ:CFLT) delivering solid fourth-quarter results for fiscal 2024, demonstrating solid cloud revenue performance. Similarly, acquiring Databricks should strengthen the company’s position in the streaming markets. The analyst also awaits the company’s update on the progress of AI within its DSP offerings at its forthcoming investor day.

While we acknowledge the potential of Confluent Inc (NASDAQ:CFLT) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. 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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