Confluent price target raised to $29 from $27 at DA Davidson

DA Davidson raised the firm’s price target on Confluent (CFLT) to $29 from $27 and keeps a Buy rating on the shares. The company reported a solid beat and raise as optimizations that impacted the first half returned to a healthy level while late-stage pipeline grew over 40% sequentially for the second straight quarter and new use cases moving into production accelerated, the analyst tells investors in a research note. Large new logo adds were strong while DSP callouts were also encouraging, the firm added.