Confluent price target raised to $37 from $24 at DA Davidson

DA Davidson analyst Rudy Kessinger raised the firm’s price target on Confluent to $37 from $24 and keeps a Buy rating on the shares. The analyst cites the company’s Q4 earnings beat and a “much better than feared” 2024 outlook, with consumption growth trends that were better than expected, particularly with digital native customers who have been pressured.