Confluent price target lowered to $30 from $37 at DA Davidson

DA Davidson analyst Rudy Kessinger lowered the firm’s price target on Confluent to $30 from $37 and keeps a Buy rating on the shares. The company reported strong upside in Q2, with Cloud Revenue beating consensus and growing over 40%, the analyst tells investors in a research note. The management called out cost optimization pressures within the digital native customer vertical beginning in June and continuing through July however, reversing the green shoots seen in Q1, the firm added.