Confluent (NASDAQ:CFLT - Free Report) had its price target trimmed by Loop Capital from $34.00 to $30.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a hold rating on the stock.
A number of other research firms also recently issued reports on CFLT. Bank of America lifted their price objective on shares of Confluent from $26.00 to $31.00 and gave the stock an "underperform" rating in a report on Wednesday, February 12th. Scotiabank lifted their target price on shares of Confluent from $27.00 to $35.00 and gave the stock a "sector perform" rating in a research report on Wednesday, February 12th. Mizuho boosted their price objective on Confluent from $31.00 to $35.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Barclays increased their price target on shares of Confluent from $35.00 to $37.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Finally, William Blair restated an "outperform" rating on shares of Confluent in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Confluent currently has an average rating of "Moderate Buy" and a consensus target price of $35.33.
Get Our Latest Stock Report on CFLT
Confluent Price Performance
NASDAQ CFLT traded up $0.57 during trading on Monday, hitting $26.37. 1,932,396 shares of the company's stock were exchanged, compared to its average volume of 4,283,737. The company has a market cap of $8.81 billion, a PE ratio of -24.45 and a beta of 0.89. 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 stock's 50 day moving average price is $29.71 and its two-hundred day moving average price is $26.70. Confluent has a fifty-two week low of $17.79 and a fifty-two week high of $37.90.
Confluent (NASDAQ:CFLT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share 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 expect that Confluent will post -0.83 EPS for the current year.
Insider Buying and Selling at Confluent
In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $29.36, for a total transaction of $6,826,200.00. Following the sale, the chief executive officer now directly owns 452,488 shares in the company, valued at $13,285,047.68. This represents a 33.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Kong Phan sold 3,947 shares of the firm's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $28.74, for a total value of $113,436.78. Following the completion of the sale, the chief accounting officer now owns 179,939 shares of the company's stock, valued at approximately $5,171,446.86. This represents a 2.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,201,518 shares of company stock worth $38,533,306 in the last quarter. 13.82% of the stock is owned by corporate insiders.
Institutional Trading of Confluent
A number of large investors have recently modified their holdings of CFLT. Credit Industriel ET Commercial bought a new position in shares of Confluent during the fourth quarter valued at approximately $28,000. Blue Trust Inc. lifted its stake in shares of 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 during the last quarter. SBI Securities Co. Ltd. bought a new stake in Confluent during the fourth quarter valued at about $59,000. Point72 Hong Kong Ltd purchased a new position in Confluent in the third quarter valued at about $68,000. Finally, GAMMA Investing LLC lifted its position in shares of Confluent by 85.3% during the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company's stock valued at $69,000 after buying an additional 1,136 shares during the last quarter. Hedge funds and other institutional investors own 78.09% of the company's stock.
About Confluent
(
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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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