Confluent (NASDAQ:CFLT) Given New $40.00 Price Target at Stifel Nicolaus

Confluent (NASDAQ:CFLT) had its price target hoisted by Stifel Nicolaus from $37.00 to $40.00 in a research report released on Wednesday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other research firms also recently commented on CFLT. Barclays raised their price objective on Confluent from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Citigroup increased their price objective on shares of Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Morgan Stanley restated an “equal weight” rating and set a $30.00 target price (down previously from $33.00) on shares of Confluent in a research note on Thursday, January 16th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $40.00 price target on shares of Confluent in a research note on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Confluent presently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

Confluent Stock Up 25.1 %

Shares of CFLT stock opened at $37.65 on Wednesday. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. Confluent has a 12 month low of $17.79 and a 12 month high of $37.90. The stock has a market cap of $12.35 billion, a P/E ratio of -33.92 and a beta of 0.92. The company has a 50 day simple moving average of $29.58 and a two-hundred day simple moving average of $25.37.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. On average, research analysts expect that Confluent will post -0.9 earnings per share for the current year.

Insider Activity at Confluent

In other news, CAO Kong Phan sold 3,947 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $28.74, for a total transaction of $113,436.78. Following the transaction, the chief accounting officer now owns 179,939 shares of the company’s stock, valued at approximately $5,171,446.86. The trade was a 2.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Erica Schultz sold 63,729 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $27.40, for a total value of $1,746,174.60. Following the completion of the sale, the insider now owns 687,483 shares of the company’s stock, valued at approximately $18,837,034.20. This represents a 8.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,508,636 shares of company stock valued at $47,198,798. Insiders own 13.82% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Blue Trust Inc. lifted its holdings in shares of Confluent by 354.0% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after acquiring an additional 1,607 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Confluent in the 4th quarter worth about $59,000. Point72 Hong Kong Ltd bought a new stake in Confluent in the third quarter worth about $68,000. GAMMA Investing LLC boosted its position in shares of Confluent by 85.3% during the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after buying an additional 1,136 shares during the period. Finally, AlphaQuest LLC grew its stake in shares of Confluent by 22,112.5% during the fourth quarter. AlphaQuest LLC now owns 3,554 shares of the company’s stock valued at $99,000 after buying an additional 3,538 shares during the last quarter. Institutional investors 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.