Piper Sandler raised the firm’s price target on Confluent (CFLT) to $28 from $27 and keeps an Overweight rating on the shares. The firm notes the company demonstrated improved execution in Q3, delivering a solid beat and the first raise to cloud expectations this year. Management attributed the better-than-expected cloud results to accelerating new workload growth and a normalization of optimization activity.
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Read More on CFLT:
- Confluent price target raised to $30 from $24 at Wells Fargo
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