Truist analyst Miller Jump raised the firm’s price target on Confluent (CFLT) to $40 from $35 and keeps a Buy rating on the shares. The company delivered Q4 results that exceeded expectations driven by continued momentum in their cloud revenue segment, while the management called out rapid adoption of their broader DSP capabilities outside of core streaming, improved packaging, and normalization of their consumption-based compensation model as drivers for the year ahead, the analyst tells investors in a research note.
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