Confluent price target raised to $29 from $28 at Goldman Sachs

Goldman Sachs analyst Kash Rangan raised the firm’s price target on Confluent (CFLT) to $29 from $28 and keeps a Neutral rating on the shares after its Q3 earnings beat. The firm is also positive on the company’s easing NER deceleration, strong cloud growth driven by normalizing digital native consumption spend and the growing adoption of multi-products, and steady execution despite disruption that could have come from their internal sales incentive change, the analyst tells investors in a research note.