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

Confluent, Inc. (NASDAQ:CFLT) has received a consensus rating of “Moderate Buy” from the twenty-nine brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, nineteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $32.37.

Several equities analysts recently weighed in on CFLT shares. Mizuho lifted their target price on shares of Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Robert W. Baird boosted their price objective on Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. increased their target price on Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Sanford C. Bernstein dropped their target price on Confluent from $38.00 to $33.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, Wells Fargo & Company upped their price target on Confluent from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th.

Confluent Stock Performance

Shares of NASDAQ:CFLT opened at $28.93 on Tuesday. The business has a 50-day moving average of $29.64 and a two-hundred day moving average of $24.93. The firm has a market capitalization of $9.49 billion, a PE ratio of -26.06 and a beta of 0.91. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24. Confluent has a 12 month low of $17.79 and a 12 month high of $35.07.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.03. The firm had revenue of $250.20 million for the quarter, compared to analyst estimates 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.

Insiders Place Their Bets

In other Confluent news, Director Michelangelo Volpi sold 50,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $25.92, for a total value of $1,296,000.00. Following the sale, the director now directly owns 280,200 shares in the company, valued at approximately $7,262,784. This trade represents a 15.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Kong Phan sold 3,947 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $28.74, for a total transaction of $113,436.78. Following the completion of the sale, the chief accounting officer now directly owns 179,939 shares in the company, valued at approximately $5,171,446.86. This trade represents a 2.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,584,712 shares of company stock valued at $132,928,936 over the last quarter. Insiders own 13.82% of the company’s stock.

Hedge Funds Weigh In On Confluent

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its stake in Confluent by 354.0% during the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock valued at $58,000 after acquiring an additional 1,607 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Confluent during the third quarter valued at about $68,000. GAMMA Investing LLC lifted its holdings in Confluent by 85.3% in the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after purchasing an additional 1,136 shares during the period. Pacer Advisors Inc. lifted its holdings in Confluent by 36.4% in the fourth quarter. Pacer Advisors Inc. now owns 6,068 shares of the company’s stock worth $170,000 after purchasing an additional 1,619 shares during the period. Finally, DMC Group LLC bought a new position in Confluent in the 4th quarter valued at about $201,000. 78.09% of the stock is owned by institutional investors.

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.