Confluent price target lowered to $34 from $35 at Canaccord

Canaccord lowered the firm’s price target on Confluent to $34 from $35 and keeps a Buy rating on the shares. The firm said they continue to believe in the “data in motion” thesis, which is that Confluent is well positioned to capitalize on the early innings of a Kafka lifecycle and that the creation of the cloud platform would help to address why many companies that built on open-source in the past have failed to scale.