Confluent initiated with an Outperform at Raymond James

Raymond James initiated coverage of Confluent (CFLT) with an Outperform rating and $30 price target stating that the firm is starting coverage “just as emerging catalysts are primed to provide durable growth at scale.” The firm believes Confluent has “put itself in an enviable position as AI moves to the agentic phase,” arguing that real-time information flow and actions between agents/users creates “a necessity for a real-time data streaming platform that can perform analysis/computations/outcomes on the fly,” as Confluent can.