CFLT - Confluent stock receives multiple PT cuts on slowing growth

Confluent (NASDAQ:CFLT) shares hit an all-time low, sliding up to 25% on Friday as several analysts cut their price target on the stock following the firm's Q1 earnings release yesterday. Deutsche Bank cut its PT from $63 to $28, stating that "the results had some bright spots, but many areas to watch. Cloud revenue growth was disappointing." Meanwhile, UBS said that "the growth came in at the low end of expectations and won't be enough to serve as a meaningful catalyst given decelerating metrics and the current (extremely cautious) investor sentiment." It lowered PT on the stock from $45 to $41 while keeping a buy rating. Citi, which has neutral rating and PT of $30, said that "while the results weren't soft, they lacked an inflection to diminish concerns around slowing growth and lack of margin expansion." The data streaming platform generated adj. EPS of -$0.19 on revenue of $126M that grew

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Confluent stock receives multiple PT cuts on slowing growth