Confluent, Inc. (NASDAQ:CFLT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Confluent, Inc. (NASDAQ:CFLT) has earned a consensus recommendation of “Moderate Buy” from the twenty-nine research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $32.37.

Several equities analysts recently weighed in on the company. Truist Financial increased their target price on Confluent from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Mizuho increased their price objective on shares of Confluent from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Robert W. Baird raised their target price on shares of Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. TD Cowen upped their price target on shares of Confluent from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company lifted their price target on shares of Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, December 5th.

Insider Activity at Confluent

In related news, CMO Stephanie Buscemi sold 164,123 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $26.24, for a total value of $4,306,587.52. Following the completion of the transaction, the chief marketing officer now directly owns 149,644 shares of the company’s stock, valued at $3,926,658.56. This represents a 52.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Chad Verbowski sold 13,414 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total value of $378,677.22. Following the completion of the sale, the chief technology officer now owns 483,393 shares in the company, valued at approximately $13,646,184.39. This represents a 2.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,584,712 shares of company stock valued at $132,928,936. Corporate insiders own 13.82% of the company’s stock.

Hedge Funds Weigh In On Confluent

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CFLT. Point72 Hong Kong Ltd acquired a new stake in shares of Confluent during the 3rd quarter valued at $68,000. GAMMA Investing LLC boosted its position in shares of Confluent by 85.3% in the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after purchasing an additional 1,136 shares during the period. Moody National Bank Trust Division acquired a new stake in Confluent during the 4th quarter worth about $203,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Confluent in the third quarter worth approximately $214,000. Finally, Centaurus Financial Inc. lifted its position in shares of Confluent by 109.2% in the 2nd quarter. Centaurus Financial Inc. now owns 7,320 shares of the company’s stock valued at $216,000 after acquiring an additional 3,821 shares in the last quarter. 78.09% of the stock is owned by institutional investors.

Confluent Price Performance

Shares of NASDAQ:CFLT opened at $26.70 on Tuesday. The stock has a market cap of $8.76 billion, a PE ratio of -24.05 and a beta of 0.91. The business’s fifty day moving average price is $29.61 and its two-hundred day moving average price is $24.90. Confluent has a one year low of $17.79 and a one year high of $35.07. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24.

Confluent (NASDAQ:CFLT) last announced its earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. The firm had revenue of $250.20 million for the quarter, compared to analyst estimates of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. On average, analysts forecast that Confluent will post -0.9 EPS for the current fiscal year.

About Confluent

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.