Confluent Inc (CFLT) PT Lowered to $24 at DA Davidson

DA Davidson analyst Rudy G. Kessinger lowered the price target on Confluent Inc (NASDAQ: CFLT) to $24.00 (from $32.00) while maintaining a Buy rating.

The analyst commented, "Q2 results were slightly ahead & CY25 Subs. Rev guidance was inched higher due to Platform strength, but optimizations continued in the qtr., impacting M/M Cloud consumption growth. Additionally, a $10M+ ARR Cloud customer is moving back to Platform, thereby significantly reducing their total ARR & impacting expected Q4 Y/Y Cloud growth by LSDs. Cloud expectations were thus lowered again w/ Q4 implied at just ~18% Y/Y. GRR dipped slightly below 90% & NRR ticked down 3pts Q/Q to 114% as well. Remain BUY rated given AH implied valuation of just ~4.7x EV/CY26 Rev. Lowering PT from $32 to $24."

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