Confluent’s (CFLT) Outperform Rating Reiterated at William Blair

William Blair restated their outperform rating on shares of Confluent (NASDAQ:CFLT) in a report published on Monday,RTT News reports.

CFLT has been the subject of several other research reports. Mizuho upped their price objective on shares of Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Scotiabank raised their price target on Confluent from $27.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 12th. Guggenheim lifted their price target on Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Bank of America increased their price objective on Confluent from $26.00 to $31.00 and gave the company an “underperform” rating in a report on Wednesday, February 12th. Finally, Morgan Stanley lifted their target price on shares of Confluent from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $35.33.

Confluent Stock Performance

Shares of CFLT stock opened at $27.25 on Monday. Confluent has a 12 month low of $17.79 and a 12 month high of $37.90. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14. The company has a market cap of $9.10 billion, a P/E ratio of -25.23 and a beta of 0.90. The firm has a fifty day moving average price of $29.53 and a 200 day moving average price of $26.90.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. Sell-side analysts predict that Confluent will post -0.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Confluent news, CAO Kong Phan sold 3,947 shares of Confluent stock in a transaction on Friday, December 20th. The shares were sold at an average price of $28.74, for a total value of $113,436.78. Following the transaction, the chief accounting officer now owns 179,939 shares in the company, valued at $5,171,446.86. This trade represents a 2.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Rohan Sivaram sold 68,350 shares of the company’s 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 sale, the chief financial officer now 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,201,518 shares of company stock worth $38,533,306. 13.82% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Credit Industriel ET Commercial purchased a new position in shares of Confluent in the 4th quarter worth about $28,000. Blue Trust Inc. increased its position in Confluent by 354.0% during the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after purchasing an additional 1,607 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Confluent in the fourth quarter valued at approximately $59,000. Point72 Hong Kong Ltd acquired a new position in Confluent during the third quarter valued at approximately $68,000. Finally, GAMMA Investing LLC grew its stake in Confluent by 85.3% during the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after buying an additional 1,136 shares during the period. Institutional investors and hedge funds 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.