Confluent, Inc. (NASDAQ:CFLT) Receives $35.33 Average Target Price from Analysts

Shares of Confluent, Inc. (NASDAQ:CFLT) have been assigned an average recommendation of “Moderate Buy” from the thirty analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $35.33.

Several research analysts have recently issued reports on CFLT shares. Truist Financial raised their price objective on Confluent from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Scotiabank raised their target price on Confluent from $27.00 to $35.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. Wells Fargo & Company raised their target price on Confluent from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Barclays raised their price objective on Confluent from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Mizuho raised their price objective on Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, December 13th.

Confluent Trading Up 2.2 %

Confluent stock opened at $26.36 on Wednesday. The stock has a 50-day moving average of $29.66 and a two-hundred day moving average of $26.82. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. Confluent has a one year low of $17.79 and a one year high of $37.90. The stock has a market cap of $8.80 billion, a PE ratio of -24.41 and a beta of 0.90.

Confluent (NASDAQ:CFLT) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. On average, research analysts anticipate that Confluent will post -0.83 EPS for the current fiscal year.

Insider Buying and Selling at Confluent

In other news, CFO Rohan Sivaram sold 68,350 shares of Confluent stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $36.23, for a total value of $2,476,320.50. Following the completion of the sale, the chief financial officer now directly owns 520,273 shares of the company’s stock, valued at approximately $18,849,490.79. The trade was a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $29.36, for a total value of $6,826,200.00. Following the completion of the sale, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at $13,285,047.68. The trade was a 33.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,201,518 shares of company stock worth $38,533,306 over the last quarter. 13.82% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Confluent

Institutional investors have recently modified their holdings of the company. Champlain Investment Partners LLC grew its stake in Confluent by 72.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock worth $218,083,000 after purchasing an additional 4,486,841 shares in the last quarter. Norges Bank acquired a new position in Confluent during the 4th quarter worth $81,092,000. Pictet Asset Management Holding SA grew its stake in Confluent by 7,342.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,351,516 shares of the company’s stock worth $65,748,000 after purchasing an additional 2,319,919 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Confluent during the 4th quarter worth about $64,658,000. Finally, MIG Capital LLC acquired a new position in shares of Confluent during the 4th quarter worth about $27,007,000. 78.09% of the stock is owned by institutional investors and hedge funds.

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.