The Goldman Sachs Group Boosts Confluent (NASDAQ:CFLT) Price Target to $27.00

Confluent (NASDAQ:CFLTFree Report) had its price target upped by The Goldman Sachs Group from $24.00 to $27.00 in a research report report published on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts have also recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Confluent from $40.00 to $27.00 and set an overweight rating for the company in a research report on Thursday, November 2nd. Sanford C. Bernstein started coverage on shares of Confluent in a research report on Tuesday, November 28th. They issued an outperform rating and a $34.00 price objective for the company. Needham & Company LLC boosted their price objective on shares of Confluent from $30.00 to $35.00 and gave the stock a buy rating in a research report on Thursday. Guggenheim upgraded shares of Confluent from a neutral rating to a buy rating and set a $23.00 price objective for the company in a research report on Friday, November 3rd. Finally, Wolfe Research upgraded shares of Confluent from a peer perform rating to an outperform rating and set a $21.00 target price for the company in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $30.42.

View Our Latest Report on Confluent

Confluent Stock Performance

NASDAQ:CFLT opened at $31.72 on Thursday. Confluent has a 1 year low of $14.69 and a 1 year high of $41.22. The firm has a 50 day moving average of $23.53 and a 200-day moving average of $26.74. The company has a current ratio of 4.98, a quick ratio of 4.98 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $9.77 billion, a P/E ratio of -21.58 and a beta of 0.69.

Insider Activity

In other news, CMO Stephanie Buscemi sold 3,385 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $18.73, for a total value of $63,401.05. Following the sale, the chief marketing officer now directly owns 110,792 shares of the company’s stock, valued at approximately $2,075,134.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CMO Stephanie Buscemi sold 3,385 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $18.73, for a total value of $63,401.05. Following the sale, the chief marketing officer now directly owns 110,792 shares of the company’s stock, valued at approximately $2,075,134.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Ying Christina Liu sold 4,240 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $18.73, for a total transaction of $79,415.20. Following the completion of the transaction, the chief accounting officer now directly owns 127,265 shares in the company, valued at $2,383,673.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 439,216 shares of company stock valued at $10,241,051. 22.08% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. acquired a new position in shares of Confluent during the 1st quarter worth approximately $30,000. Geneos Wealth Management Inc. acquired a new position in shares of Confluent during the 1st quarter worth approximately $43,000. UniSuper Management Pty Ltd acquired a new position in shares of Confluent during the 3rd quarter worth approximately $36,000. Rakuten Securities Inc. acquired a new stake in shares of Confluent during the 4th quarter worth approximately $31,000. Finally, Quest Partners LLC acquired a new stake in shares of Confluent during the 4th quarter worth approximately $31,000. 59.30% of the stock is owned by institutional investors.

About Confluent

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Confluent, Inc operates a data streaming platform in the United States and internationally. The company offers Confluent Cloud, a managed cloud-native service for connecting and processing real-time data; and Confluent Platform, an enterprise-grade self-managed software that connects and processes data.

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Analyst Recommendations for Confluent (NASDAQ:CFLT)

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