Confluent, Inc. (NASDAQ:CFLT) Given Average Rating of "Moderate Buy" by Analysts

Confluent, Inc. (NASDAQ:CFLT - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the thirty analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, twenty-one have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $35.33.

Several research firms have recently weighed in on CFLT. Evercore ISI raised their price objective on Confluent from $32.00 to $40.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Royal Bank of Canada raised their price objective on Confluent from $36.00 to $41.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Wells Fargo & Company raised their price objective on Confluent from $40.00 to $42.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Morgan Stanley raised their price objective on Confluent from $30.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 12th. Finally, Piper Sandler raised their price objective on Confluent from $35.00 to $40.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th.

Confluent Stock Performance

Shares of NASDAQ CFLT opened at $25.50 on Wednesday. The stock has a fifty day moving average price of $29.80 and a two-hundred day moving average price of $26.71. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. The firm has a market cap of $8.52 billion, a P/E ratio of -23.61 and a beta of 0.89. Confluent has a 1 year low of $17.79 and a 1 year high of $37.90.

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Confluent (NASDAQ:CFLT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (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%. Research analysts forecast that Confluent will post -0.83 EPS for the current fiscal year.

Insider Activity

In related news, CFO Rohan Sivaram sold 68,350 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $36.23, for a total value of $2,476,320.50. Following the completion of the transaction, the chief financial officer now owns 520,273 shares in the company, valued at $18,849,490.79. The trade was a 11.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Neha Narkhede sold 40,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.68, for a total transaction of $1,227,200.00. Following the completion of the transaction, the director now owns 20,247 shares of the company's stock, valued at $621,177.96. This trade represents a 66.39 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,248,478 shares of company stock worth $40,003,844. Insiders own 13.82% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. ProShare Advisors LLC raised its position in Confluent by 3.1% in the 4th quarter. ProShare Advisors LLC now owns 10,774 shares of the company's stock worth $301,000 after purchasing an additional 328 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Confluent by 4.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 11,557 shares of the company's stock valued at $323,000 after acquiring an additional 458 shares during the last quarter. EP Wealth Advisors LLC raised its position in shares of Confluent by 3.6% during the 3rd quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company's stock valued at $293,000 after acquiring an additional 503 shares during the last quarter. Truist Financial Corp raised its position in shares of Confluent by 2.5% during the 4th quarter. Truist Financial Corp now owns 21,081 shares of the company's stock valued at $589,000 after acquiring an additional 514 shares during the last quarter. Finally, Jasper Ridge Partners L.P. raised its position in shares of Confluent by 4.8% during the 4th quarter. Jasper Ridge Partners L.P. now owns 14,409 shares of the company's stock valued at $403,000 after acquiring an additional 664 shares during the last quarter. 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.

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