Confluent (NASDAQ:CFLT) Given New $30.00 Price Target at Deutsche Bank Aktiengesellschaft

Confluent (NASDAQ:CFLT) had its target price reduced by Deutsche Bank Aktiengesellschaft from $35.00 to $30.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts also recently weighed in on CFLT. Mizuho reduced their target price on shares of Confluent from $36.00 to $34.00 and set an outperform rating on the stock in a research report on Tuesday, July 16th. Wells Fargo & Company decreased their target price on shares of Confluent from $38.00 to $34.00 and set an overweight rating for the company in a research note on Thursday. Canaccord Genuity Group cut their price target on Confluent from $35.00 to $34.00 and set a buy rating on the stock in a research note on Thursday. Evercore ISI began coverage on Confluent in a research report on Tuesday, June 11th. They set an outperform rating and a $35.00 price objective for the company. Finally, Stifel Nicolaus dropped their target price on Confluent from $40.00 to $32.00 and set a buy rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, Confluent presently has an average rating of Moderate Buy and a consensus target price of $31.04.

Confluent Stock Down 5.9 %

CFLT traded down $1.22 on Thursday, hitting $19.41. The company had a trading volume of 3,710,427 shares, compared to its average volume of 4,537,385. The stock has a fifty day simple moving average of $26.86 and a 200-day simple moving average of $28.48. The company has a debt-to-equity ratio of 1.29, a current ratio of 5.07 and a quick ratio of 5.07. The firm has a market capitalization of $6.17 billion, a P/E ratio of -15.13 and a beta of 0.91. Confluent has a 52-week low of $14.69 and a 52-week high of $38.19.

Confluent (NASDAQ:CFLT) last released its earnings results on Tuesday, May 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). The firm had revenue of $217.24 million during the quarter, compared to analysts’ expectations of $211.57 million. Confluent had a negative net margin of 42.70% and a negative return on equity of 38.46%. As a group, equities analysts expect that Confluent will post -0.94 EPS for the current fiscal year.

Insider Buying and Selling at Confluent

In other news, CAO Ying Christina Liu sold 68,000 shares of Confluent stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $31.06, for a total transaction of $2,112,080.00. Following the sale, the chief accounting officer now owns 168,338 shares in the company, valued at $5,228,578.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CMO Stephanie Buscemi sold 3,794 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $31.96, for a total value of $121,256.24. Following the sale, the chief marketing officer now owns 165,539 shares in the company, valued at $5,290,626.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Ying Christina Liu sold 68,000 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $31.06, for a total transaction of $2,112,080.00. Following the transaction, the chief accounting officer now owns 168,338 shares of the company’s stock, valued at approximately $5,228,578.28. The disclosure for this sale can be found here. Insiders have sold a total of 632,725 shares of company stock valued at $18,138,428 over the last ninety days. 13.82% of the stock is currently owned by company insiders.

Institutional Trading of Confluent

Several hedge funds have recently made changes to their positions in the business. Rhumbline Advisers raised its position in Confluent by 19.9% during the second quarter. Rhumbline Advisers now owns 301,590 shares of the company’s stock valued at $8,906,000 after purchasing an additional 49,969 shares during the period. Claro Advisors LLC bought a new position in shares of Confluent during the 2nd quarter valued at approximately $424,000. nVerses Capital LLC purchased a new stake in Confluent during the 2nd quarter valued at $269,000. Maryland State Retirement & Pension System lifted its position in Confluent by 28.8% in the second quarter. Maryland State Retirement & Pension System now owns 18,831 shares of the company’s stock worth $556,000 after buying an additional 4,206 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Confluent by 17.1% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 18,148 shares of the company’s stock worth $536,000 after buying an additional 2,647 shares during the period. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

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.