DA Davidson raised the firm’s price target on Confluent (CFLT) to $29 from $27 and keeps a Buy rating on the shares. The company reported a solid beat and raise as optimizations that impacted the first half returned to a healthy level while late-stage pipeline grew over 40% sequentially for the second straight quarter and new use cases moving into production accelerated, the analyst tells investors in a research note. Large new logo adds were strong while DSP callouts were also encouraging, the firm added.
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Read More on CFLT:
- Confluent price target raised to $24 from $20 at BofA
- 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