Confluent price target lowered to $25 from $28 at Scotiabank

Scotiabank lowered the firm’s price target on Confluent to $25 from $28 and keeps a Sector Perform rating on the shares. While the more muted Cloud upside and management noting digital native consumption trends are turning more cautious compared to Q1 were “sticking points,” the firm views the unchanged guidance framework as “unproblematic” due to the dynamic macro environment, the analyst tells investors.