Confluent, Inc. (NASDAQ:CFLT) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of Confluent, Inc. (NASDAQ:CFLT - Get Free Report) have received a consensus rating of "Moderate Buy" from the twenty-nine research firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, twenty have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $30.74.

CFLT has been the subject of several analyst reports. Royal Bank of Canada increased their price target on shares of Confluent from $26.00 to $33.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Needham & Company LLC raised their price target on shares of Confluent from $28.00 to $31.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Barclays boosted their target price on shares of Confluent from $29.00 to $32.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. JMP Securities reiterated a "market outperform" rating and issued a $40.00 price objective on shares of Confluent in a report on Tuesday, October 29th. Finally, Sanford C. Bernstein dropped their price target on Confluent from $38.00 to $33.00 and set an "outperform" rating for the company in a research report on Friday, October 25th.

Insider Buying and Selling at Confluent

In other news, CTO Chad Verbowski sold 13,540 shares of the company's stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total transaction of $293,547.20. Following the completion of the transaction, the chief technology officer now owns 496,807 shares of the company's stock, valued at approximately $10,770,775.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Confluent news, insider Erica Schultz sold 9,556 shares of the business's stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total value of $207,174.08. Following the transaction, the insider now owns 687,483 shares of the company's stock, valued at approximately $14,904,631.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Chad Verbowski sold 13,540 shares of the business's stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total transaction of $293,547.20. Following the completion of the transaction, the chief technology officer now owns 496,807 shares of the company's stock, valued at $10,770,775.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,207,153 shares of company stock valued at $28,871,094 in the last ninety days. Company insiders own 13.82% of the company's stock.

Institutional Investors Weigh In On Confluent

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Confluent by 3.5% in the first quarter. Vanguard Group Inc. now owns 19,741,320 shares of the company's stock valued at $602,505,000 after purchasing an additional 669,675 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Confluent by 17.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,581,914 shares of the company's stock valued at $536,601,000 after purchasing an additional 2,587,169 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in Confluent by 28.4% in the second quarter. 1832 Asset Management L.P. now owns 7,617,100 shares of the company's stock worth $224,933,000 after purchasing an additional 1,684,100 shares during the period. William Blair Investment Management LLC bought a new position in shares of Confluent during the second quarter worth $193,403,000. Finally, Champlain Investment Partners LLC acquired a new position in shares of Confluent in the 1st quarter valued at $144,563,000. Institutional investors and hedge funds own 78.09% of the company's stock.

Confluent Trading Up 1.6 %

Shares of Confluent stock traded up $0.43 on Thursday, hitting $27.56. 5,657,925 shares of the company traded hands, compared to its average volume of 4,365,492. The business has a 50-day simple moving average of $21.38 and a 200 day simple moving average of $24.63. Confluent has a 52 week low of $16.69 and a 52 week high of $35.07. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17.

Confluent (NASDAQ:CFLT - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.03. The firm had revenue of $250.20 million during the quarter, compared to analyst estimates of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. Analysts forecast that Confluent will post -0.94 EPS for the current fiscal year.

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.