Confluent, Inc. (NASDAQ:CFLT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Confluent, Inc. (NASDAQ:CFLT) has been assigned an average rating of “Moderate Buy” from the twenty-nine analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $32.37.

A number of equities research analysts have recently weighed in on CFLT shares. Sanford C. Bernstein cut their price target on Confluent from $38.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Wells Fargo & Company lifted their target price on shares of Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Mizuho raised their price target on shares of Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, December 13th. JMP Securities reiterated a “market outperform” rating and issued a $40.00 price objective on shares of Confluent in a report on Tuesday, October 29th. Finally, Piper Sandler increased their target price on shares of Confluent from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th.

Confluent Stock Down 0.1 %

Confluent stock opened at $26.70 on Tuesday. Confluent has a twelve month low of $17.79 and a twelve month high of $35.07. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. The firm has a market cap of $8.76 billion, a PE ratio of -24.05 and a beta of 0.91. The firm’s 50 day moving average price is $29.61 and its two-hundred day moving average price is $24.90.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. The business had revenue of $250.20 million for the quarter, compared to the consensus estimate of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. On average, research analysts predict that Confluent will post -0.9 EPS for the current fiscal year.

Insider Buying and Selling

In other Confluent news, CAO Kong Phan sold 3,947 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $28.74, for a total value of $113,436.78. Following the sale, the chief accounting officer now directly owns 179,939 shares in the company, valued at $5,171,446.86. This represents a 2.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michelangelo Volpi sold 50,000 shares of Confluent stock in a transaction on Friday, November 1st. The shares were sold at an average price of $25.92, for a total value of $1,296,000.00. Following the transaction, the director now directly owns 280,200 shares of the company’s stock, valued at approximately $7,262,784. The trade was a 15.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,584,712 shares of company stock valued at $132,928,936 over the last quarter. Corporate insiders own 13.82% of the company’s stock.

Institutional Trading of Confluent

Several large investors have recently added to or reduced their stakes in CFLT. Diversified Trust Co raised its holdings in shares of Confluent by 110.3% in the third quarter. Diversified Trust Co now owns 60,503 shares of the company’s stock valued at $1,233,000 after buying an additional 31,729 shares during the last quarter. Sycomore Asset Management increased its position in Confluent by 308.3% in the 2nd quarter. Sycomore Asset Management now owns 333,083 shares of the company’s stock valued at $9,176,000 after acquiring an additional 251,507 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of Confluent by 1,465.6% in the third quarter. Quantbot Technologies LP now owns 30,295 shares of the company’s stock worth $617,000 after acquiring an additional 28,360 shares during the last quarter. Pathway Capital Management LP acquired a new position in shares of Confluent during the third quarter worth approximately $918,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Confluent by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,284,037 shares of the company’s stock worth $46,549,000 after buying an additional 64,926 shares in the last quarter. 78.09% of the stock is owned by institutional investors.

About Confluent

Confluent, Inc operates a data streaming platform in the United States and internationally. The company provides platforms that allow customers to connect their applications, systems, and data layers, such as Confluent Cloud, a managed cloud-native software-as-a-service; and Confluent Platform, an enterprise-grade self-managed software.