Confluent price target raised to $35 from $30 at RBC Capital

RBC Capital analyst Matthew Hedberg raised the firm’s price target on Confluent to $35 from $30 and keeps an Outperform rating on the shares after its Q4 earnings beat. The company delivered broad-based strength vs. expectations across both revenue and profitability, highlighted by its first quarter of $100M in cloud revenue as well as its first quarter of positive non-GAAP operating income, the analyst tells investors in a research note.