RBC Capital Markets analyst Matthew Hedberg initiated coverage on Confluent Inc (NASDAQ:CFLT) with an Outperform rating and a price target of $22. Hedberg believes Confluent's focus on data streaming and emerging data processing cross-sell positions it for long-term profitable growth. He estimates revenue growth of 22% in CY24, and expects revenues and adjusted EPS of $768.3 million and $(0.01) in FY23, $937.0 million and $0.17 in FY24, and $1.176 billion and $0.27 for FY25.