Wells Fargo lowered the firm’s price target on Confluent (CFLT) to $30 from $32 and keeps an Overweight rating on the shares. The firm notes the company printed a strong Q1 beat, but cut its FY25 subs revenue guide by about 2pts in light of macro uncertainty. Wells remains constructive on the long-term narrative with multiple growth vectors ahead.
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Read More on CFLT:
- Confluent’s Strong Q1 Performance and Growth Potential Earns Buy Rating Despite Macroeconomic Challenges
- Cautious Outlook for Confluent Amid Macroeconomic Challenges and Revised Revenue Guidance
- Confluent price target lowered to $36 from $40 at Citizens JMP
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