Piper Sandler lowered the firm’s price target on Confluent to $30 from $40 and keeps an Overweight rating on the shares. Headline revenue/ op. margin results topped the high end of guidance, but were overshadowed by cloud coming in below guidance, and 2024 growth being set 600 bps below Street at 22%, the firm says. Alongside this, accelerated changes to the GTM structure drive additional changes to the narrative, Piper adds.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on CFLT: