Truist raised the firm’s price target on Confluent (CFLT) to $29 from $27 and keeps a Buy rating on the shares. The company produced upside across the board versus our estimates, driven by Confluent Cloud, as customer optimization activity stabilized and multiple go-to-market initiatives drove better cross-sell and net new use cases, the analyst tells investors in a research note. Confluent management also raised its FY revenue outlook to reflect the improving execution and demand environment, the firm added.
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