Confluent, Inc. (NASDAQ:CFLT) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Confluent, Inc. (NASDAQ:CFLT) have received a consensus recommendation of “Moderate Buy” from the twenty-eight analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $32.23.

Several equities analysts have weighed in on CFLT shares. JPMorgan Chase & Co. raised their price target on Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Stifel Nicolaus raised their target price on shares of Confluent from $34.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Evercore ISI decreased their price target on shares of Confluent from $33.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Needham & Company LLC reissued a “buy” rating and issued a $31.00 price objective on shares of Confluent in a research note on Friday, November 15th. Finally, DA Davidson restated a “buy” rating and issued a $30.00 target price on shares of Confluent in a report on Wednesday, September 18th.

Insider Transactions at Confluent

In other news, CAO Kong Phan sold 3,947 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $28.74, for a total value of $113,436.78. Following the completion of the sale, the chief accounting officer now owns 179,939 shares in the company, valued at approximately $5,171,446.86. The trade was a 2.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michelangelo Volpi sold 50,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $25.92, for a total transaction of $1,296,000.00. Following the transaction, the director now owns 280,200 shares in the company, valued at approximately $7,262,784. This represents a 15.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,584,712 shares of company stock valued at $132,928,936. 13.82% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Confluent

A number of large investors have recently bought and sold shares of CFLT. Point72 Hong Kong Ltd purchased a new position in shares of Confluent in the 3rd quarter valued at $68,000. Acadian Asset Management LLC bought a new stake in Confluent during the second quarter valued at about $175,000. Plato Investment Management Ltd grew its stake in Confluent by 2,184.1% in the second quarter. Plato Investment Management Ltd now owns 6,601 shares of the company’s stock valued at $195,000 after purchasing an additional 6,312 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in Confluent in the third quarter worth about $214,000. Finally, Centaurus Financial Inc. lifted its position in shares of Confluent by 109.2% during the second quarter. Centaurus Financial Inc. now owns 7,320 shares of the company’s stock valued at $216,000 after buying an additional 3,821 shares during the last quarter. Institutional investors own 78.09% of the company’s stock.

Confluent Price Performance

CFLT stock opened at $28.25 on Friday. The company has a market capitalization of $9.27 billion, a PE ratio of -25.45 and a beta of 0.88. The company’s fifty day moving average price is $28.89 and its 200-day moving average price is $24.93. Confluent has a one year low of $17.79 and a one year 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.

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

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.