Confluent price target raised to $29 from $27 at DA Davidson

Core Viewpoint - DA Davidson raised the price target on Confluent (CFLT) to $29 from $27 while maintaining a Buy rating, indicating positive sentiment towards the company's performance and growth potential [1] Financial Performance - Confluent reported a solid beat and raise, suggesting that the company's financial results exceeded expectations [1] - Optimizations that affected the first half of the year have returned to a healthy level, contributing to improved performance [1] Growth Metrics - The late-stage pipeline grew over 40% sequentially for the second consecutive quarter, highlighting strong demand and potential for future revenue [1] - New use cases moving into production have accelerated, indicating an expansion in the company's service offerings and customer adoption [1] Customer Acquisition - The company experienced strong large new logo additions, reflecting successful customer acquisition strategies [1] - DSP (Data Streaming Platform) callouts were also encouraging, suggesting positive feedback and engagement from existing customers [1]