Confluent's (CFLT) "Market Outperform" Rating Reiterated at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Confluent (NASDAQ:CFLT - Free Report) in a research note issued to investors on Tuesday, Benzinga reports. JMP Securities currently has a $40.00 price target on the stock.

Several other research firms have also commented on CFLT. DA Davidson reiterated a buy rating and set a $30.00 price objective on shares of Confluent in a research report on Wednesday, September 18th. Needham & Company LLC reiterated a buy rating and set a $28.00 price objective on shares of Confluent in a research report on Monday. Loop Capital lowered their target price on shares of Confluent from $30.00 to $25.00 and set a hold rating for the company in a report on Friday, July 19th. Wells Fargo & Company lowered their target price on shares of Confluent from $38.00 to $34.00 and set an overweight rating for the company in a report on Thursday, August 1st. Finally, Canaccord Genuity Group lowered their target price on shares of Confluent from $35.00 to $34.00 and set a buy rating for the company in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $29.97.

Confluent Price Performance

CFLT traded up $0.12 during trading on Tuesday, hitting $19.81. 3,473,863 shares of the company traded hands, compared to its average volume of 4,420,482. The company has a market cap of $6.30 billion, a PE ratio of -15.88 and a beta of 0.88. The stock's 50-day simple moving average is $21.57 and its two-hundred day simple moving average is $26.42. Confluent has a 1 year low of $14.69 and a 1 year high of $35.07. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 1.25.

Confluent (NASDAQ:CFLT - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.04). Confluent had a negative net margin of 42.70% and a negative return on equity of 37.78%. The business had revenue of $234.99 million for the quarter, compared to the consensus estimate of $229.49 million. As a group, sell-side analysts anticipate that Confluent will post -0.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Confluent

In other news, CMO Stephanie Buscemi sold 3,866 shares of Confluent stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total value of $83,814.88. Following the transaction, the chief marketing officer now owns 161,673 shares of the company's stock, valued at approximately $3,505,070.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CMO Stephanie Buscemi sold 3,866 shares of Confluent stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total value of $83,814.88. Following the transaction, the chief marketing officer now owns 161,673 shares of the company's stock, valued at approximately $3,505,070.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Rohan Sivaram sold 22,926 shares of Confluent 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 $497,035.68. Following the completion of the transaction, the chief financial officer now directly owns 555,337 shares in the company, valued at approximately $12,039,706.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 524,453 shares of company stock valued at $10,833,388. Company insiders own 13.82% of the company's stock.

Institutional Trading of Confluent

A number of institutional investors have recently bought and sold shares of the stock. Hollencrest Capital Management acquired a new stake in Confluent during the 1st quarter valued at approximately $26,000. Quest Partners LLC acquired a new stake in Confluent during the 4th quarter valued at approximately $31,000. V Square Quantitative Management LLC acquired a new stake in Confluent during the 2nd quarter valued at approximately $68,000. UniSuper Management Pty Ltd lifted its stake in Confluent by 125.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company's stock valued at $82,000 after acquiring an additional 1,500 shares during the period. Finally, Advisors Asset Management Inc. lifted its stake in Confluent by 40.3% during the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company's stock valued at $91,000 after acquiring an additional 859 shares during the period. 78.09% of the stock is currently owned by institutional investors and hedge funds.

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.