Confluent (NASDAQ:CFLT) PT Lowered to $27.00 at TD Cowen

Confluent (NASDAQ:CFLT) had its price objective cut by investment analysts at TD Cowen from $31.00 to $27.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s target price indicates a potential upside of 32.61% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Truist Financial reiterated a “buy” rating and set a $30.00 target price (down from $36.00) on shares of Confluent in a research note on Thursday, August 1st. Needham & Company LLC restated a “buy” rating and issued a $38.00 price objective on shares of Confluent in a research note on Tuesday, July 30th. Guggenheim restated a “buy” rating and issued a $37.00 price objective on shares of Confluent in a research note on Tuesday, June 25th. Scotiabank lowered their price objective on Confluent from $28.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 1st. Finally, Loop Capital lowered their price objective on Confluent from $30.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $30.31.

Confluent Trading Down 1.5 %

NASDAQ CFLT opened at $20.36 on Friday. The stock has a market capitalization of $6.47 billion, a price-to-earnings ratio of -16.29 and a beta of 0.88. Confluent has a one year low of $14.69 and a one year high of $35.07. The company has a debt-to-equity ratio of 1.25, a current ratio of 4.44 and a quick ratio of 4.44. The business’s fifty day moving average is $21.71 and its 200-day moving average is $26.61.

Confluent (NASDAQ:CFLT) last released its earnings results on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). The business had revenue of $234.99 million for the quarter, compared to the consensus estimate of $229.49 million. Confluent had a negative return on equity of 37.78% and a negative net margin of 42.70%. Equities research analysts predict that Confluent will post -0.95 EPS for the current year.

Insider Transactions at Confluent

In other news, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $21.13, for a total transaction of $4,912,725.00. Following the completion of the transaction, the chief executive officer now owns 452,488 shares of the company’s stock, valued at $9,561,071.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Confluent news, Director Lara Caimi sold 9,375 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $20.01, for a total value of $187,593.75. Following the completion of the sale, the director now owns 7,160 shares of the company’s stock, valued at $143,271.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $21.13, for a total value of $4,912,725.00. Following the completion of the sale, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at approximately $9,561,071.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 524,263 shares of company stock valued at $10,829,566. 13.82% of the stock is owned by corporate insiders.

Institutional Trading of Confluent

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd boosted its stake in Confluent by 1.9% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 19,129 shares of the company’s stock worth $448,000 after buying an additional 359 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in Confluent by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 82,082 shares of the company’s stock worth $1,921,000 after buying an additional 800 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Confluent by 7.1% during the first quarter. Daiwa Securities Group Inc. now owns 12,100 shares of the company’s stock valued at $369,000 after purchasing an additional 800 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in shares of Confluent by 8.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 10,681 shares of the company’s stock valued at $322,000 after purchasing an additional 857 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in shares of Confluent by 40.3% during the first quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock valued at $91,000 after purchasing an additional 859 shares during the period. Hedge funds and other institutional investors own 78.09% of the company’s stock.

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.