Confluent price target lowered to $35 from $39 at Cowen

Cowen analyst J. Derrick Wood lowered the firm’s price target on Confluent to $35 from $39 and keeps an Outperform rating on the shares. The analyst continues to carry a bullish view on end-market demand, driven by rising cloud adoption, accelerating open-source conversion and growing demand to build infrastructure to power real-time apps, analytic workflows, and ML pipelines.