Confluent price target lowered to $26 from $39 at Barclays

Barclays lowered the firm’s price target on Confluent to $26 from $39 and keeps an Overweight rating on the shares post the Q3 report. The shares will likely suffer in the short-term but the investment case is not broken, the analyst tells investors in a research note. The firm says Confluent is “simply suffering from the same fate as the other consumption names with the added pressure from the necessary change in sales commission structure.” All not permanent issues, writes Barclays.