Confluent price target raised to $38 from $34 at Mizuho

Mizuho raised the firm’s price target on Confluent to $38 from $34 and keeps a Buy rating on the shares after meeting with management. The company was bullish on Confluent Cloud adoption, and with stream processing and generative artificial intelligence serving as additional growth drivers, the analyst tells investors in a research note. The firm continues to expect data streaming adoption will go much higher over the medium-term and beyond, and views Confluent’s platform as best-in-class.