Confluent shares fall 28.03% premarket after multiple downgrades from Capital One and Stifel Nicolaus.

Confluent, Inc. dropped 28.03% in premarket trading, with the stock price decline aligning with multiple downgrades from analysts. Capital One downgraded Confluent to Equal Weight from Overweight and adjusted its price target to $21 from $27. Similarly, Stifel Nicolaus downgraded Confluent to Neutral from Buy and adjusted its price target to $21 from $30. These negative analyst sentiments likely contributed to the significant drop in Confluent's stock price.