Confluent (NASDAQ:CFLT) Earns Outperform Rating from Analysts at Raymond James

Raymond James began coverage on shares of Confluent (NASDAQ:CFLT - Free Report) in a research report sent to investors on Friday, MarketBeat.com reports. The brokerage issued an outperform rating and a $30.00 target price on the stock.

CFLT has been the topic of a number of other research reports. Bank of America raised their price target on Confluent from $26.00 to $31.00 and gave the stock an "underperform" rating in a research note on Wednesday, February 12th. Canaccord Genuity Group lifted their price objective on shares of Confluent from $34.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Morgan Stanley boosted their price target on Confluent from $30.00 to $32.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 12th. Evercore ISI boosted their target price on Confluent from $32.00 to $40.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Finally, UBS Group upgraded shares of Confluent from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $34.00 to $38.00 in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Confluent presently has a consensus rating of "Moderate Buy" and an average price target of $34.96.

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Confluent Stock Up 0.7 %

Shares of NASDAQ CFLT traded up $0.15 during midday trading on Friday, hitting $21.65. 3,310,216 shares of the company's stock were exchanged, compared to its average volume of 4,489,288. The firm's fifty day simple moving average is $27.48 and its 200-day simple moving average is $27.35. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. The company has a market cap of $7.23 billion, a PE ratio of -20.05 and a beta of 1.03. Confluent has a twelve month low of $17.79 and a twelve month high of $37.90.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its earnings results 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 net margin of 35.81% and a negative return on equity of 34.70%. Research analysts predict that Confluent will post -0.83 EPS for the current fiscal year.

Insider Transactions at Confluent

In other Confluent news, Director Michelangelo Volpi sold 25,000 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $36.22, for a total value of $905,500.00. Following the completion of the transaction, the director now directly owns 292,079 shares of the company's stock, valued at $10,579,101.38. This represents a 7.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Kong Phan sold 2,178 shares of the business's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $31.58, for a total value of $68,781.24. Following the completion of the transaction, the chief accounting officer now owns 177,415 shares in the company, valued at approximately $5,602,765.70. This trade represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,200,746 shares of company stock valued at $38,505,150 over the last quarter. Company insiders own 13.82% of the company's stock.

Institutional Trading of Confluent

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. M&T Bank Corp grew its holdings in Confluent by 12.3% during the 4th quarter. M&T Bank Corp now owns 21,540 shares of the company's stock worth $602,000 after acquiring an additional 2,367 shares in the last quarter. Friedenthal Financial acquired a new position in Confluent in the fourth quarter worth about $758,000. Victory Capital Management Inc. increased its holdings in Confluent by 135.7% in the fourth quarter. Victory Capital Management Inc. now owns 648,986 shares of the company's stock valued at $18,146,000 after buying an additional 373,682 shares during the last quarter. Truist Financial Corp raised its stake in Confluent by 2.5% during the fourth quarter. Truist Financial Corp now owns 21,081 shares of the company's stock valued at $589,000 after buying an additional 514 shares in the last quarter. Finally, Orion Portfolio Solutions LLC bought a new position in Confluent during the 3rd quarter worth approximately $605,000. Institutional investors 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.