BofA analyst Koji Ikeda raised the firm’s price target on Confluent (CFLT) to $24 from $20 and keeps an Underperform rating on the shares. While “more constructive on its execution” after Confluent reported “good” Q3 results, the firm thinks the multiple could be constrained until Cloud growth reaccelerates, the analyst tells investors in a post-earnings note.
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>>
Read More on CFLT:
- Confluent’s Strong Q3 Performance and Strategic Growth Justify Buy Rating
- Confluent price target raised to $29 from $26 at Oppenheimer
- Confluent price target raised to $26 from $20 at Baird
- Confluent price target raised to $24 from $21 at Goldman Sachs
- Confluent price target raised to $29 from $25 at Stephens