Upgrades from major brokerages have improved sentiment in the "cflt stock price forecast", pinning fair value estimates around $31 based on forward P/S ratios. Confluent is now trading at 9 times sales, which makes it significantly cheaper than Nvidia. Also, the company expects to deliver $768.5 million in revenue for 2023, which would be a 31% increase over last year. Even better, analysts have raised their revenue growth expectations for Confluent, which points toward solid growth for the next couple of years as well. Shares of data streaming platform provider Confluent (NASDAQ:CFLT) fell 0.1% in the afternoon session after the company announced a new multi-year partnership with the Visa Cash App Racing Bulls (VCARB) Formula 1 team. The "cflt stock price forecast" benefits from the broader Nasdaq tech rebound, with correlation coefficients showing strong linkages to cloud software indices.
