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.
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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