DA Davidson lowered the firm’s price target on Confluent (CFLT) to $24 from $32 and keeps a Buy rating on the shares. The company’s Q2 results were slightly ahead of estimates and revenue guidance was inched higher due to Platform strength, but optimizations continued in the quarter, impacting Cloud consumption growth, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CFLT:
- Confluent price target lowered to $27 from $32 at Piper Sandler
- Confluent price target lowered to $29 from $31 at Guggenheim
- Confluent price target lowered to $26 from $32 at Oppenheimer
- Confluent price target lowered to $24 from $28 at Mizuho
- TD Cowen downgrades Confluent, says challenges could take time to fix