Confluent’s (CFLT) “Outperform” Rating Reaffirmed at William Blair

William Blair restated their outperform rating on shares of Confluent (NASDAQ:CFLT) in a research note issued to investors on Monday morning,RTT News reports.

Other analysts have also recently issued research reports about the company. UBS Group upgraded Confluent from a “neutral” rating to a “buy” rating and increased their target price for the stock from $34.00 to $38.00 in a report on Wednesday, February 26th. Canaccord Genuity Group raised their price target on Confluent from $34.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Morgan Stanley raised their price target on Confluent from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Wells Fargo & Company raised their price target on Confluent from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Piper Sandler raised their price target on Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.33.

Confluent Price Performance

Shares of CFLT stock opened at $27.20 on Monday. The stock’s fifty day moving average is $29.60 and its 200-day moving average is $26.86. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. The stock has a market capitalization of $9.09 billion, a PE ratio of -25.19 and a beta of 0.90. Confluent has a 52 week low of $17.79 and a 52 week high of $37.90.

Confluent (NASDAQ:CFLT) last announced its earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. Equities research analysts expect that Confluent will post -0.83 EPS for the current fiscal year.

Insider Transactions at Confluent

In related news, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $29.36, for a total value of $6,826,200.00. Following the sale, the chief executive officer now owns 452,488 shares of the company’s stock, valued at approximately $13,285,047.68. This trade represents a 33.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Rohan Sivaram sold 68,350 shares of Confluent stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $36.23, for a total value of $2,476,320.50. Following the completion of the sale, the chief financial officer now directly owns 520,273 shares in the company, valued at approximately $18,849,490.79. This represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,201,518 shares of company stock valued at $38,533,306 over the last 90 days. 13.82% of the stock is owned by company insiders.

Institutional Investors Weigh In On Confluent

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its position in Confluent by 36.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 30,763 shares of the company’s stock valued at $860,000 after buying an additional 8,204 shares during the last quarter. Fluent Financial LLC bought a new position in Confluent in the fourth quarter valued at approximately $606,000. Infinitum Asset Management LLC bought a new position in Confluent in the fourth quarter valued at approximately $10,485,000. Cache Advisors LLC bought a new position in Confluent in the fourth quarter valued at approximately $1,322,000. Finally, Neo Ivy Capital Management bought a new position in Confluent in the fourth quarter valued at approximately $2,088,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

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.