Confluent (CFLT) – Research Analysts’ Recent Ratings Updates

Several analysts have recently updated their ratings and price targets for Confluent (NASDAQ: CFLT):

• 9/23/2024 – Confluent had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $28.00 price target on the stock.
• 9/20/2024 – Confluent had its price target lowered by analysts at Evercore ISI from $33.00 to $28.00. They now have an “outperform” rating on the stock.
• 9/20/2024 – Confluent had its price target lowered by analysts at TD Cowen from $31.00 to $27.00. They now have a “buy” rating on the stock.
• 9/18/2024 – Confluent was upgraded by analysts at Wolfe Research to a “strong-buy” rating.
• 9/18/2024 – Confluent had its “buy” rating reaffirmed by analysts at DA Davidson. They now have a $30.00 price target on the stock.
• 9/4/2024 – Confluent is now covered by analysts at Robert W. Baird. They set a “neutral” rating and a $23.00 price target on the stock.
• 9/4/2024 – Confluent was upgraded by analysts at Baird R W to a “hold” rating.
• 8/9/2024 – Confluent was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating. They now have a $25.00 price target on the stock.
• 8/1/2024 – Confluent had its price target lowered by analysts at Bank of America Co. from $32.00 to $26.00. They now have an “underperform” rating on the stock.
• 8/1/2024 – Confluent had its price target lowered by analysts at Scotiabank from $28.00 to $25.00. They now have a “sector perform” rating on the stock.
• 8/1/2024 – Confluent had its price target lowered by analysts at Piper Sandler from $37.00 to $32.00. They now have an “overweight” rating on the stock.
• 8/1/2024 – Confluent had its price target lowered by analysts at Wells Fargo & Company from $38.00 to $34.00. They now have an “overweight” rating on the stock.
• 8/1/2024 – Confluent had its price target lowered by analysts at Royal Bank of Canada from $35.00 to $30.00. They now have an “outperform” rating on the stock.
• 8/1/2024 – Confluent had its price target lowered by analysts at TD Cowen from $34.00 to $31.00. They now have a “buy” rating on the stock.
• 8/1/2024 – Confluent had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $35.00 to $30.00. They now have a “buy” rating on the stock.
• 8/1/2024 – Confluent had its price target lowered by analysts at DA Davidson from $37.00 to $30.00. They now have a “buy” rating on the stock.
• 8/1/2024 – Confluent had its price target lowered by analysts at Stifel Nicolaus from $40.00 to $32.00. They now have a “buy” rating on the stock.
• 8/1/2024 – Confluent had its price target lowered by analysts at Canaccord Genuity Group Inc. from $35.00 to $34.00. They now have a “buy” rating on the stock.
• 8/1/2024 – Confluent had its “buy” rating reaffirmed by analysts at Truist Financial Co.. They now have a $30.00 price target on the stock, down previously from $36.00.
• 7/30/2024 – Confluent had its price target lowered by analysts at Citigroup Inc. from $32.00 to $28.00. They now have a “neutral” rating on the stock.
• 7/30/2024 – Confluent had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $38.00 price target on the stock.

Confluent Price Performance

CFLT stock traded down $0.38 during midday trading on Monday, reaching $19.98. The company had a trading volume of 1,141,606 shares, compared to its average volume of 4,406,602. The company has a debt-to-equity ratio of 1.25, a current ratio of 4.44 and a quick ratio of 4.44. Confluent, Inc. has a 1 year low of $14.69 and a 1 year high of $35.07. The company has a market capitalization of $6.35 billion, a P/E ratio of -15.98 and a beta of 0.88. The firm has a 50-day moving average price of $21.71 and a 200-day moving average price of $26.52.

Confluent (NASDAQ:CFLT) last issued 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 return on equity of 37.78% and a negative net margin of 42.70%. The company had revenue of $234.99 million during the quarter, compared to the consensus estimate of $229.49 million. On average, research analysts anticipate that Confluent, Inc. will post -0.95 earnings per share for the current fiscal year.

Insider Activity at Confluent

In other news, CMO Stephanie Buscemi sold 3,866 shares of the firm’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 $83,814.88. Following the sale, 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 is accessible through this hyperlink. In other Confluent news, CMO Stephanie Buscemi sold 3,866 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total transaction of $83,814.88. Following the sale, the chief marketing officer now owns 161,673 shares in the company, valued at approximately $3,505,070.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $19.99, for a total transaction of $4,647,675.00. Following the completion of the sale, the chief executive officer now owns 452,488 shares in the company, valued at approximately $9,045,235.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 524,263 shares of company stock valued at $10,829,566. 13.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CFLT. Hollencrest Capital Management bought a new stake in shares of Confluent in the first quarter valued at about $26,000. Quest Partners LLC acquired a new position in shares of Confluent during the fourth quarter valued at about $31,000. V Square Quantitative Management LLC acquired a new position in shares of Confluent during the second quarter valued at about $68,000. UniSuper Management Pty Ltd increased its holdings in shares of Confluent by 125.0% during the first 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 in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of Confluent by 40.3% during the first 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 in the last quarter. 78.09% of the stock is owned by hedge funds and other institutional investors.

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.