Wells Fargo raised the firm’s price target on Confluent (CFLT) to $42 from $40 and keeps an Overweight rating on the shares. The firm notes the company delivered a clean Q4, with about $2M upside on net new Cloud revenues and a better-than-feared guide for FY25. Wells continues to see favorable path for FY25 ahead, with multiple growth vectors layering onto this model.
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Read More on CFLT:
- Cautious Outlook on Confluent: Sell Rating Maintained Despite Improved Execution and Raised Price Objective
- Confluent price target raised to $35 from $33 at Bernstein
- Confluent’s Modest Growth and Cautious Hold Rating Amid Challenges
- Confluent price target raised to $37 from $35 at Barclays
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