Confluent price target lowered to $24 from $31 at Barclays

Barclays analyst Raimo Lenschow lowered the firm’s price target on Confluent (CFLT) to $24 from $31 and keeps an Overweight rating on the shares. The firm believes the shares will return to the low end of their trading range in the near-term due to ongoing cloud optimizations, the large artificial intelligence native customer, likely OpenAI, moving to self-managed and some go-to-market changes.