Confluent (NASDAQ:CFLT) Price Target Lowered to $29.00 at Mizuho

Confluent (NASDAQ:CFLT) had its price objective reduced by Mizuho from $31.00 to $29.00 in a research note released on Thursday, Benzinga reports. Mizuho currently has an outperform rating on the stock.

Several other equities analysts have also weighed in on CFLT. Guggenheim reissued a “buy” rating and set a $37.00 price objective on shares of Confluent in a report on Tuesday, June 25th. Loop Capital decreased their price objective on Confluent from $30.00 to $25.00 and set a “hold” rating for the company in a report on Friday, July 19th. Wolfe Research raised shares of Confluent to a “strong-buy” rating in a report on Wednesday, September 18th. DA Davidson reiterated a “buy” rating and set a $30.00 target price on shares of Confluent in a research report on Wednesday, September 18th. Finally, Citigroup lowered their price target on shares of Confluent from $32.00 to $28.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 30th. One 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.79.

Confluent Stock Up 0.6 %

Shares of NASDAQ:CFLT opened at $22.45 on Thursday. The company has a market capitalization of $7.14 billion, a PE ratio of -17.96 and a beta of 0.88. Confluent has a 1 year low of $14.69 and a 1 year high of $35.07. The company has a debt-to-equity ratio of 1.25, a current ratio of 4.44 and a quick ratio of 4.44. The business has a fifty day moving average price of $20.72 and a two-hundred day moving average price of $25.05.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). The company had revenue of $234.99 million for the quarter, compared to analysts’ expectations of $229.49 million. Confluent had a negative return on equity of 37.78% and a negative net margin of 42.70%. Analysts forecast that Confluent will post -0.95 earnings per share for the current year.

Insider Buying and Selling

In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $19.99, for a total value 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $19.99, for a total value of $4,647,675.00. Following the transaction, the chief executive officer now owns 452,488 shares in the company, valued at approximately $9,045,235.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lara Caimi sold 9,375 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $20.01, for a total transaction of $187,593.75. Following the transaction, the director now directly owns 7,160 shares of the company’s stock, valued at approximately $143,271.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 524,453 shares of company stock worth $10,833,388 in the last ninety days. 13.82% of the stock is owned by insiders.

Institutional Investors Weigh In On Confluent

A number of large investors have recently made changes to their positions in CFLT. Vanguard Group Inc. boosted its holdings in Confluent by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 19,071,645 shares of the company’s stock valued at $446,276,000 after acquiring an additional 647,251 shares in the last quarter. Fulton Bank N.A. bought a new stake in shares of Confluent during the 1st quarter valued at about $216,000. Banque Cantonale Vaudoise increased its position in shares of Confluent by 58.0% during the first quarter. Banque Cantonale Vaudoise now owns 20,185 shares of the company’s stock valued at $616,000 after buying an additional 7,412 shares during the period. Gulf International Bank UK Ltd increased its position in shares of Confluent by 9.2% during the first quarter. Gulf International Bank UK Ltd now owns 22,056 shares of the company’s stock valued at $673,000 after buying an additional 1,850 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Confluent by 4.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 26,352 shares of the company’s stock worth $804,000 after buying an additional 1,062 shares in the last quarter. 78.09% of the stock is currently owned by institutional investors.

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.