Confluent, Inc. (NASDAQ:CFLT) Receives $30.81 Average PT from Analysts

by · The Cerbat Gem

Shares of Confluent, Inc. (NASDAQ:CFLT – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-four analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $30.80.

Several brokerages have recently issued reports on CFLT. Royal Bank of Canada raised their price objective on shares of Confluent from $35.00 to $37.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 14th. Sanford C. Bernstein began coverage on shares of Confluent in a research note on Tuesday, November 28th. They issued an “outperform” rating and a $34.00 price objective on the stock. Wells Fargo & Company raised their price objective on shares of Confluent from $30.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Mizuho raised their price objective on shares of Confluent from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, JMP Securities raised their price objective on shares of Confluent from $25.00 to $38.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 8th.

Get Our Latest Research Report on CFLT

Confluent Trading Down 2.1 %

Shares of CFLT stock opened at $32.57 on Friday. Confluent has a 12 month low of $14.69 and a 12 month high of $41.22. The company has a quick ratio of 4.62, a current ratio of 4.62 and a debt-to-equity ratio of 1.34. The business’s 50 day moving average is $27.29 and its two-hundred day moving average is $26.79. The company has a market cap of $10.18 billion, a PE ratio of -22.16 and a beta of 0.95.

Confluent (NASDAQ:CFLT – Get Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.01). Confluent had a negative net margin of 56.99% and a negative return on equity of 44.16%. The company had revenue of $213.18 million for the quarter, compared to analyst estimates of $204.62 million. Equities analysts predict that Confluent will post -0.92 EPS for the current year.

Insider Buying and Selling at Confluent

In other news, CAO Ying Christina Liu sold 4,109 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $32.15, for a total value of $132,104.35. Following the completion of the sale, the chief accounting officer now directly owns 123,497 shares in the company, valued at $3,970,428.55. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CAO Ying Christina Liu sold 4,109 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $32.15, for a total value of $132,104.35. Following the completion of the sale, the chief accounting officer now directly owns 123,497 shares in the company, valued at $3,970,428.55. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Stephanie Buscemi sold 2,724 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $32.15, for a total value of $87,576.60. Following the completion of the sale, the chief marketing officer now owns 109,002 shares of the company’s stock, valued at $3,504,414.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,630,939 shares of company stock valued at $50,365,869. 22.08% of the stock is currently owned by company insiders.

Institutional Trading of Confluent

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CFLT. Bank of New York Mellon Corp increased its position in Confluent by 720.4% in the first quarter. Bank of New York Mellon Corp now owns 272,441 shares of the company’s stock worth $11,170,000 after purchasing an additional 239,232 shares during the period. Bank of Montreal Can increased its position in Confluent by 3,176.6% in the first quarter. Bank of Montreal Can now owns 149,968 shares of the company’s stock worth $6,215,000 after purchasing an additional 145,391 shares during the period. Great West Life Assurance Co. Can acquired a new stake in Confluent in the first quarter worth about $5,322,000. Dimensional Fund Advisors LP acquired a new stake in Confluent in the first quarter worth about $507,000. Finally, Blair William & Co. IL increased its position in Confluent by 13.1% in the first quarter. Blair William & Co. IL now owns 19,335 shares of the company’s stock worth $793,000 after purchasing an additional 2,235 shares during the period. 59.30% of the stock is currently owned by institutional investors and hedge funds.

About Confluent

(Get Free Report

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.

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