Confluent price target raised to $26 from $24 at Barclays

Barclays analyst Raimo Lenschow raised the firm’s price target on Confluent to $26 from $24 and keeps an Overweight rating on the shares. The main news from the Q4 results was the source of booking weakness and it seems deal slippage in the enterprise segment for Confluent Platform was the main issue, the analyst tells investors in a research note. The firm thinks the bookings deceleration is more a representation of the tougher environment that will be felt by more companies. It continues to like Confluent’s long-term story.