Confluent (NASDAQ:CFLT) Given New $37.00 Price Target at Barclays

Confluent (NASDAQ:CFLT) had its target price lifted by Barclays from $35.00 to $37.00 in a research report sent to investors on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other analysts have also recently commented on the company. Truist Financial raised their target price on Confluent from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Scotiabank raised their price target on Confluent from $25.00 to $27.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Needham & Company LLC lifted their price objective on shares of Confluent from $31.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday. Piper Sandler increased their target price on shares of Confluent from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, Royal Bank of Canada boosted their price target on shares of Confluent from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Confluent currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

Confluent Stock Performance

Shares of CFLT opened at $37.65 on Wednesday. The firm has a fifty day moving average of $29.58 and a 200-day moving average of $25.37. The company has a market cap of $12.35 billion, a price-to-earnings ratio of -33.92 and a beta of 0.92. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. Confluent has a 1 year low of $17.79 and a 1 year high of $37.90.

Confluent (NASDAQ:CFLT) last posted its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. As a group, equities analysts anticipate that Confluent will post -0.9 earnings per share for the current year.

Insider Buying and Selling at Confluent

In other Confluent news, Director Matthew Craig Miller sold 541,850 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $30.32, for a total transaction of $16,428,892.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Stephanie Buscemi sold 26,047 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $32.89, for a total value of $856,685.83. Following the completion of the sale, the chief marketing officer now owns 144,373 shares of the company’s stock, valued at $4,748,427.97. The trade was a 15.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,508,636 shares of company stock valued at $47,198,798. 13.82% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Confluent

Several institutional investors and hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC lifted its position in shares of Confluent by 4.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 11,557 shares of the company’s stock worth $323,000 after purchasing an additional 458 shares in the last quarter. EP Wealth Advisors LLC increased its stake in Confluent by 3.6% in the 3rd quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock valued at $293,000 after buying an additional 503 shares during the period. Truist Financial Corp lifted its position in Confluent by 2.5% in the 4th quarter. Truist Financial Corp now owns 21,081 shares of the company’s stock worth $589,000 after buying an additional 514 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Confluent by 85.3% during the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after buying an additional 1,136 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Confluent by 8.0% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 15,281 shares of the company’s stock valued at $472,000 after buying an additional 1,137 shares during the period. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Confluent Company Profile

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.