Guggenheim raised the firm’s price target on Confluent (CFLT) to $35 from $32 and keeps a Buy rating on the shares. The firm believes Confluent will exceed Q4 subscription revenue by 3% as its checks suggest a stable demand and competitive environment in which Confluent continues to gain ground as the premier data streaming platform, the analyst tells investors in a Q4 preview note. The firm estimates Confluent can ultimately achieve 23% subscription revenue growth in 2025, including Cloud growth of 32% and Platform growth of 13%, the analyst added.
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Read More on CFLT:
- Confluent downgraded to Equal Weight from Overweight at Morgan Stanley
- Confluent price target raised to $34 from $30 at Deutsche Bank
- Confluent price target raised to $35 from $32 at Piper Sandler
- Confluent price target raised to $36 from $33 at RBC Capital
- Confluent price target raised to $37 from $34 at Stifel