Confluent price target raised to $33 from $26 at Barclays

Barclays analyst Raimo Lenschow raised the firm’s price target on Confluent to $33 from $26 and keeps an Overweight rating on the shares. The analyst sees the post-earnings rally as warranted given the better than expected results amid mixed sentiment. Cloud and Platform outperformance led to the largest beat since Q3 of 2022, which paired with better commentary and raised guidance should provide comfort the headwinds seen in Q3 are largely transitory, the analyst tells investors in a research note.