Confluent price target raised to $31 from $27 at Barclays

Barclays raised the firm’s price target on Confluent (CFLT) to $31 from $27 and keeps an Overweight rating on the shares. The firm likes the setup for on-cycle reporting software names into Q2 earnings. After initial uncertainty in April, channel checks for May and especially June were much stronger, the analyst tells investors in a research note. As a result, Barclays expects solid Q2 prints and the chance to guidance increases.