Reported 3 days ago
Citigroup has reduced its price target for Confluent, Inc. (CFLT) from $30 to $20 while maintaining a Neutral rating. Analyst Tyler Radke highlighted ongoing trends in cloud optimization among Confluent's major customers, which are expected to impact the company's cloud revenue growth through mid-2026. Despite being acknowledged as a leader in real-time data streaming, the downgrade reflects concerns over client spending and extended deal cycles, leading Citigroup to adopt a cautious stance until market conditions show signs of improvement.
Source: YAHOO