Confluent (NASDAQ:CFLT - Get Free Report) had its price objective decreased by equities research analysts at Truist Financial from $40.00 to $35.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's target price suggests a potential upside of 77.95% from the company's current price.
Other equities analysts have also issued reports about the company. Evercore ISI boosted their price target on Confluent from $32.00 to $40.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Morgan Stanley boosted their price objective on Confluent from $30.00 to $32.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 12th. Stifel Nicolaus raised their target price on Confluent from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. William Blair reiterated an "outperform" rating on shares of Confluent in a research note on Monday, March 17th. Finally, Barclays increased their price objective on shares of Confluent from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $35.15.
Read Our Latest Research Report on CFLT
Confluent Stock Down 7.2 %
NASDAQ CFLT traded down $1.53 during trading on Monday, reaching $19.67. The company's stock had a trading volume of 3,366,040 shares, compared to its average volume of 4,388,117. The business has a 50-day moving average price of $28.99 and a 200-day moving average price of $27.24. Confluent has a 1-year low of $17.79 and a 1-year high of $37.90. The stock has a market capitalization of $6.57 billion, a PE ratio of -18.15 and a beta of 0.90. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14.
Confluent (NASDAQ:CFLT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share 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%. On average, research analysts forecast that Confluent will post -0.83 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, CAO Kong Phan sold 6,346 shares of Confluent stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $36.22, for a total transaction of $229,852.12. Following the completion of the sale, the chief accounting officer now owns 179,593 shares in the company, valued at $6,504,858.46. The trade was a 3.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Erica Schultz sold 150,000 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $35.82, for a total transaction of $5,373,000.00. Following the sale, the insider now directly owns 678,016 shares of the company's stock, valued at approximately $24,286,533.12. This trade represents a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,200,746 shares of company stock worth $38,505,150 in the last quarter. 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 CFLT. Credit Industriel ET Commercial acquired a new stake in shares of Confluent during the fourth quarter worth $28,000. Versant Capital Management Inc boosted its holdings in Confluent by 2,458.2% during the first quarter. Versant Capital Management Inc now owns 1,714 shares of the company's stock worth $40,000 after buying an additional 1,647 shares during the last quarter. Blue Trust Inc. grew its position 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 buying an additional 1,607 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Confluent in the 4th quarter valued at about $59,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Confluent in the 3rd quarter valued at about $68,000. Institutional investors and hedge funds 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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