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

Confluent, Inc. (NASDAQ:CFLT) has received a consensus recommendation of “Moderate Buy” from the thirty brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $35.33.

A number of research analysts recently issued reports on CFLT shares. JPMorgan Chase & Co. boosted their price objective on Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. UBS Group upgraded shares of Confluent from a “neutral” rating to a “buy” rating and upped their price target for the stock from $34.00 to $38.00 in a research report on Wednesday, February 26th. Piper Sandler lifted their price objective on shares of Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Loop Capital reduced their target price on shares of Confluent from $34.00 to $30.00 and set a “hold” rating for the company in a research note on Monday, March 10th. Finally, Bank of America raised their price target on shares of Confluent from $26.00 to $31.00 and gave the company an “underperform” rating in a research note on Wednesday, February 12th.

Confluent Stock Down 3.1 %

Shares of NASDAQ:CFLT opened at $26.36 on Wednesday. Confluent has a 1-year low of $17.79 and a 1-year high of $37.90. The company’s fifty day moving average is $29.56 and its two-hundred day moving average is $26.90. 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 $8.80 billion, a price-to-earnings ratio of -24.41 and a beta of 0.90.

Confluent (NASDAQ:CFLT) last issued its earnings results 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 return on equity of 34.70% and a negative net margin of 35.81%. Equities analysts anticipate that Confluent will post -0.83 EPS for the current year.

Insider Transactions at Confluent

In other Confluent news, CAO Kong Phan sold 2,178 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $31.58, for a total transaction of $68,781.24. Following the completion of the sale, the chief accounting officer now directly owns 177,415 shares of the company’s stock, valued at approximately $5,602,765.70. This represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $32.33, for a total transaction of $7,516,725.00. Following the completion of the transaction, the chief executive officer now directly owns 452,488 shares in the company, valued at approximately $14,628,937.04. This trade represents a 33.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,201,518 shares of company stock valued at $38,533,306 in the last three months. 13.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Confluent

Hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System lifted its stake in Confluent by 0.6% in the 4th quarter. California State Teachers Retirement System now owns 223,043 shares of the company’s stock worth $6,236,000 after acquiring an additional 1,334 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of 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 purchasing an additional 8,204 shares during the period. Fluent Financial LLC purchased a new stake in shares of Confluent in the fourth quarter worth approximately $606,000. Infinitum Asset Management LLC acquired a new stake in shares of Confluent during the fourth quarter worth approximately $10,485,000. Finally, Cache Advisors LLC purchased a new position in Confluent during the fourth quarter valued at approximately $1,322,000. Hedge funds and other institutional investors own 78.09% of the company’s stock.

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.