Confluent price target lowered to $32 from $35 at Oppenheimer

Oppenheimer lowered the firm’s price target on Confluent (CFLT) to $32 from $35 and keeps an Outperform rating on the shares. The firm notes Confluent reported solid Q1 results ahead of expectations, but lowered its full-year guidance to reflect macro uncertainties. Longer term, Oppenheimer believes Confluent’s opportunity remains attractive and includes a long tail of cloud growth/use case expansion.