RBC Capital raised the firm’s price target on Confluent (CFLT) to $30 from $27 and keeps an Outperform rating on the shares. The company delivered strong Q3 results with all guided metrics and cloud growth ahead of consensus expectations as fundamental drivers tracked well, the analyst tells investors in a research note. Strength was driven by strong execution, momentum in new use cases moving to production, and normalized/healthy levels of optimization and strong traction in DSP – Data Stream Platform – and Flink, the firm added.
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Read More on CFLT:
- Confluent price target raised to $30 from $25 at Raymond James
- Confluent price target raised to $29 from $27 at DA Davidson
- Confluent price target raised to $24 from $20 at BofA
- Confluent’s Strong Q3 Performance and Strategic Growth Justify Buy Rating
- Confluent price target raised to $29 from $26 at Oppenheimer