Confluent, Inc. (NASDAQ:CFLT) Receives $30.74 Consensus PT from Brokerages

Confluent, Inc. (NASDAQ:CFLT) has received an average rating of “Moderate Buy” from the twenty-eight ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, nineteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $30.88.

A number of research firms have weighed in on CFLT. Barclays increased their price target on shares of Confluent from $29.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. DA Davidson reaffirmed a “buy” rating and set a $30.00 price target on shares of Confluent in a research note on Wednesday, September 18th. Scotiabank increased their price target on shares of Confluent from $25.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Sanford C. Bernstein cut their price target on shares of Confluent from $38.00 to $33.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, Needham & Company LLC increased their price target on shares of Confluent from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st.

Insider Activity at Confluent

In other Confluent news, CMO Stephanie Buscemi sold 3,866 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total transaction of $83,814.88. Following the transaction, the chief marketing officer now directly owns 161,673 shares in the company, valued at $3,505,070.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Confluent news, insider Erica Schultz sold 9,556 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total transaction of $207,174.08. Following the transaction, the insider now directly owns 687,483 shares in the company, valued at $14,904,631.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Stephanie Buscemi sold 3,866 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total transaction of $83,814.88. Following the transaction, the chief marketing officer now owns 161,673 shares in the company, valued at $3,505,070.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,041,895 shares of company stock valued at $53,318,197. Corporate insiders own 13.82% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Confluent by 1.5% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 366,116 shares of the company’s stock worth $11,174,000 after buying an additional 5,362 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Confluent by 7.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 12,100 shares of the company’s stock worth $369,000 after buying an additional 800 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Confluent in the 1st quarter worth about $362,000. Quantbot Technologies LP lifted its position in shares of Confluent by 398.8% in the 1st quarter. Quantbot Technologies LP now owns 59,702 shares of the company’s stock worth $1,822,000 after buying an additional 47,732 shares during the last quarter. Finally, Regents of The University of California bought a new position in shares of Confluent in the 1st quarter worth about $842,000. 78.09% of the stock is currently owned by institutional investors.

Confluent Stock Performance

Shares of CFLT opened at $29.00 on Thursday. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24. The company’s 50 day simple moving average is $21.89 and its 200 day simple moving average is $24.56. Confluent has a 1 year low of $17.79 and a 1 year high of $35.07.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.03. The business had revenue of $250.20 million for the quarter, compared to the consensus estimate of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. As a group, research analysts forecast that Confluent will post -0.9 earnings per share for the current year.

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.