Confluent price target raised to $42 from $34 at DA Davidson

DA Davidson raised the firm’s price target on Confluent (CFLT) to $42 from $34 and keeps a Buy rating on the shares. The company posted “strong” Q4 results as Cloud revenue of $138M topped consensus estimates and grew 38% thanks to stable consumption growth and continued use case expansion, the analyst tells investors in a research note. Color around Cloud growth assumptions suggest growth should remain 30% or more throughout 2025, the firm added.