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

Shares of Confluent, Inc. (NASDAQ:CFLT) have earned an average recommendation of “Moderate Buy” from the thirty brokerages that are presently covering the stock, MarketBeat reports. One investment 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 given a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $29.79.

CFLT has been the topic of a number of analyst reports. Baird R W raised shares of Confluent to a “hold” rating in a research note on Wednesday, September 4th. Bank of America decreased their price target on Confluent from $32.00 to $26.00 and set an “underperform” rating for the company in a report on Thursday, August 1st. Scotiabank dropped their price objective on Confluent from $28.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 1st. Needham & Company LLC restated a “buy” rating and set a $28.00 target price on shares of Confluent in a research report on Monday, September 23rd. Finally, Robert W. Baird started coverage on Confluent in a report on Wednesday, September 4th. They issued a “neutral” rating and a $23.00 target price for the company.

Confluent Stock Up 0.6 %

Shares of NASDAQ:CFLT opened at $22.45 on Friday. The business has a fifty day simple moving average of $20.72 and a 200 day simple moving average of $25.08. Confluent has a 12-month low of $14.69 and a 12-month high of $35.07. The firm has a market cap of $7.14 billion, a P/E ratio of -17.96 and a beta of 0.88. The company has a quick ratio of 4.44, a current ratio of 4.44 and a debt-to-equity ratio of 1.25.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). Confluent had a negative return on equity of 37.78% and a negative net margin of 42.70%. The company had revenue of $234.99 million during the quarter, compared to analyst estimates of $229.49 million. Analysts predict that Confluent will post -0.95 earnings per share for the current year.

Insider Buying and Selling

In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $19.99, for a total value of $4,647,675.00. Following the completion of the sale, the chief executive officer now owns 452,488 shares in the company, valued at approximately $9,045,235.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $19.99, for a total value of $4,647,675.00. Following the completion of the transaction, the chief executive officer now owns 452,488 shares in the company, valued at $9,045,235.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rohan Sivaram sold 22,926 shares of Confluent stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total value of $497,035.68. Following the sale, the chief financial officer now owns 555,337 shares in the company, valued at $12,039,706.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 524,453 shares of company stock worth $10,833,388. 13.82% of the stock is owned by insiders.

Institutional Investors Weigh In On Confluent

Large investors have recently modified their holdings of the stock. Daiwa Securities Group Inc. grew its holdings in Confluent by 7.1% during the first quarter. Daiwa Securities Group Inc. now owns 12,100 shares of the company’s stock valued at $369,000 after purchasing an additional 800 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in Confluent by 8.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 10,681 shares of the company’s stock worth $322,000 after acquiring an additional 857 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Confluent by 40.3% in the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock valued at $91,000 after acquiring an additional 859 shares during the period. Hollencrest Capital Management purchased a new stake in Confluent during the first quarter valued at about $26,000. Finally, Resolute Advisors LLC lifted its holdings in Confluent by 11.1% during the first quarter. Resolute Advisors LLC now owns 8,693 shares of the company’s stock valued at $265,000 after purchasing an additional 869 shares during the last quarter. Hedge funds and other 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.