Confluent price target lowered to $36 from $40 at Citizens JMP

Citizens JMP lowered the firm’s price target on Confluent (CFLT) to $36 from $40 and keeps an Outperform rating on the shares. Confluent delivered better than expected Q1 results, but lowered annual subscription revenue guidance, the analyst tells investors in a research note. Citizens continues to view the company as an attractive opportunity for long-term capital appreciation for a number of reasons.