Confluent price target lowered to $28 from $42 at DA Davidson

DA Davidson analyst Rudy Kessinger lowered the firm’s price target on Confluent (CFLT) to $28 from $42 and keeps a Buy rating on the shares after its Q1 results and guidance. Platform strength drove Q1 upside but Cloud was just in-line and 2025 Subscriber Revenue growth guidance was cut from up 21%-22% Y/Y to up 19%-20% as Confluent saw a wave of cost optimizations slower rollouts of new use cases among large enterprises late in the quarter, the analyst tells investors in a research note.