Confluent price target raised to $26 from $23 at UBS

UBS analyst Karl Keirstead raised the firm’s price target on Confluent (CFLT) to $26 from $23 and keeps a Neutral rating on the shares. The firm remains “comfortable” on the sidelines despite the $3M sequential Cloud revenue beat and a reaffirmation of the implied Q4 subscription revenue guidance, the analyst tells investors in a research note. Confluent again highlighted large digital native customers and UBS believes the outsized leverage to this sub segment adds to the risk profile.