INFA - Confluent dips despite Citi adding it to its catalyst list

Confluent (NASDAQ:CFLT) shares dipped on Wednesday, despite Citi adding the Mountain View, California-based software company to its catalyst list. In a note to investors, analyst Tyler Radke wrote that he was "constructive" on data and analytics companies going into fourth-quarter earnings, "as we see the group likely to rebound following a tough start to the year." Radke added: "We also add a positive catalyst watch to CFLT, as we see new use cases around data warehouse modernization driving significant upside and reaccelerating top-line growth." Confluent shares were down nearly 2% to $67.32 in mid-day trading on Wednesday. A consensus of Wall Street analysts expect the company to report that it lost 21 cents per share on $109.8 million in revenue during the fourth-quarter. In addition to adding Confluent to Citi's catalyst list, Radke upgraded Informatica (NYSE:INFA) going into the print, noting that the recent sell-off in the stock "looks overdone given the

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Confluent dips despite Citi adding it to its catalyst list