Confluent price target lowered to $36 from $38 at Mizuho

Mizuho lowered the firm’s price target on Confluent to $36 from $38 and keeps a Buy rating on the shares. The firm’s Q1 software channel checks were mixed. On the positive side, cloud workloads continue to progress, large optimizations appear to be behind us, cybersecurity demand remains generally healthy, and artificial intelligence projects are building some more momentum, the analyst tells investors in a research note. However, the firm also learned of many deal pushouts, and believes net new logos remain sluggish and that the U.S. public sector business was softer. It lowered a few price targets as a result.