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

Confluent, Inc. (NASDAQ:CFLTGet Free Report) has earned a consensus rating of “Moderate Buy” from the twenty-four analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $30.20.

CFLT has been the subject of several research reports. JPMorgan Chase & Co. upped their price target on shares of Confluent from $23.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. The Goldman Sachs Group increased their target price on shares of Confluent from $24.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Wells Fargo & Company increased their target price on shares of Confluent from $30.00 to $36.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Royal Bank of Canada increased their target price on shares of Confluent from $30.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Finally, Piper Sandler decreased their target price on shares of Confluent from $40.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, November 2nd.

Read Our Latest Report on CFLT

Confluent Price Performance

Shares of CFLT opened at $31.52 on Tuesday. The company has a 50 day moving average price of $23.68 and a 200-day moving average price of $26.72. Confluent has a fifty-two week low of $14.69 and a fifty-two week high of $41.22. The stock has a market capitalization of $9.70 billion, a PE ratio of -21.44 and a beta of 0.69. The company has a debt-to-equity ratio of 1.38, a quick ratio of 4.98 and a current ratio of 4.98.

Insider Transactions at Confluent

In other news, CTO Chad Verbowski sold 8,502 shares of the business’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $23.95, for a total transaction of $203,622.90. Following the completion of the sale, the chief technology officer now owns 409,442 shares of the company’s stock, valued at $9,806,135.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CTO Chad Verbowski sold 8,502 shares of the business’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $23.95, for a total transaction of $203,622.90. Following the transaction, the chief technology officer now directly owns 409,442 shares in the company, valued at $9,806,135.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $25.24, for a total transaction of $5,868,300.00. The disclosure for this sale can be found here. Insiders sold 439,216 shares of company stock valued at $10,241,051 over the last 90 days. Corporate insiders own 22.08% of the company’s stock.

Hedge Funds Weigh In On Confluent

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Confluent by 13.0% during the third quarter. Vanguard Group Inc. now owns 18,424,394 shares of the company’s stock worth $545,546,000 after acquiring an additional 2,125,843 shares during the last quarter. Altimeter Capital Management LP boosted its holdings in Confluent by 11.5% in the 1st quarter. Altimeter Capital Management LP now owns 14,491,817 shares of the company’s stock valued at $348,818,000 after purchasing an additional 1,496,443 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Confluent by 18.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,476,920 shares of the company’s stock valued at $300,320,000 after purchasing an additional 1,938,668 shares during the last quarter. BlackRock Inc. boosted its holdings in Confluent by 1.0% in the 3rd quarter. BlackRock Inc. now owns 8,189,217 shares of the company’s stock valued at $194,656,000 after purchasing an additional 78,339 shares during the last quarter. Finally, Durable Capital Partners LP boosted its holdings in Confluent by 6.8% in the 1st quarter. Durable Capital Partners LP now owns 7,329,173 shares of the company’s stock valued at $300,496,000 after purchasing an additional 465,214 shares during the last quarter. 59.30% of the stock is currently owned by institutional investors and hedge funds.

Confluent Company Profile

(Get Free Report

Confluent, Inc operates a data streaming platform in the United States and internationally. The company offers Confluent Cloud, a managed cloud-native service for connecting and processing real-time data; and Confluent Platform, an enterprise-grade self-managed software that connects and processes data.

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Analyst Recommendations for Confluent (NASDAQ:CFLT)

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