UBS analyst Karl Keirstead raised the firm’s price target on Confluent to $26 from $21 and keeps a Neutral rating on the shares. Ahead of the Q4 earnings call on February 7, the firm worries that there are factors at play, including the the managed Kafka market maturing, rising competition, gaps in the Cloud product, customers struggling to find high-ROI new use cases, such that it will stay patient on Confluent shares, the analyst tells investors in a research note.
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