Confluent Inc (CFLT) PT Raised to $30 at RBC Capital

RBC Capital analyst Matthew Hedberg raised the price target on Confluent Inc (NASDAQ: CFLT) to $30.00 (from $27.00) while maintaining a Outperform rating.

The analyst comments "Confluent delivered strong Q3 results with all guided metrics and cloud growth ahead of consensus expectations as fundamental drivers tracked well. Strength was driven by strong execution, momentum in new use cases moving to production, normalized/healthy levels of optimization and strong traction in DSP & Flink. As a result, CY/25 subscription revenue guidance moved higher, now pointing to 21% growth vs. 20% previously as they raised FY subscription revenue by more than the beat. Maintain OP rating and raise PT to $30 from $27 on peer multiple expansion. Mgmt call back notes on P2."

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