Brokerages Set Confluent, Inc. (NASDAQ:CFLT) Price Target at $30.64

Shares of Confluent, Inc. (NASDAQ:CFLT) have received an average rating of “Moderate Buy” from the twenty-five research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $30.64.

A number of analysts have recently issued reports on CFLT shares. Mizuho decreased their target price on Confluent from $38.00 to $36.00 and set a “buy” rating for the company in a report on Monday, April 15th. UBS Group boosted their price target on Confluent from $21.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. JPMorgan Chase & Co. boosted their price target on Confluent from $23.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Needham & Company LLC boosted their price target on Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, DA Davidson reissued a “buy” rating and set a $37.00 price target on shares of Confluent in a research report on Monday, April 1st.

Insider Buying and Selling

In related news, CAO Ying Christina Liu sold 4,109 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $32.15, for a total transaction of $132,104.35. Following the completion of the transaction, the chief accounting officer now directly owns 123,497 shares in the company, valued at approximately $3,970,428.55. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CAO Ying Christina Liu sold 4,109 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $32.15, for a total value of $132,104.35. Following the completion of the transaction, the chief accounting officer now owns 123,497 shares of the company’s stock, valued at $3,970,428.55. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Erica Schultz sold 63,729 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $33.91, for a total value of $2,161,050.39. Following the completion of the transaction, the insider now directly owns 706,715 shares of the company’s stock, valued at approximately $23,964,705.65. The disclosure for this sale can be found here. Insiders sold a total of 1,433,170 shares of company stock worth $46,438,029 in the last three months. 22.08% of the stock is owned by insiders.

Institutional Trading of Confluent

Several institutional investors have recently modified their holdings of CFLT. Rakuten Securities Inc. acquired a new stake in shares of Confluent in the fourth quarter valued at $31,000. Quest Partners LLC acquired a new stake in shares of Confluent in the fourth quarter valued at $31,000. GAMMA Investing LLC purchased a new stake in shares of Confluent during the fourth quarter valued at $35,000. UniSuper Management Pty Ltd purchased a new stake in shares of Confluent during the third quarter valued at $36,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Confluent by 56.5% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,748 shares of the company’s stock valued at $81,000 after purchasing an additional 992 shares during the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

Confluent Stock Up 0.0 %

Shares of NASDAQ:CFLT opened at $28.89 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 4.62 and a current ratio of 4.62. Confluent has a 1 year low of $14.69 and a 1 year high of $41.22. The stock has a market capitalization of $9.03 billion, a P/E ratio of -19.65 and a beta of 0.91. The stock has a 50-day simple moving average of $31.00 and a 200-day simple moving average of $26.40.

Confluent (NASDAQ:CFLT) last issued its earnings results on Wednesday, February 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). Confluent had a negative return on equity of 44.16% and a negative net margin of 56.99%. The firm had revenue of $213.18 million for the quarter, compared to analysts’ expectations of $204.62 million. Equities analysts forecast that Confluent will post -0.92 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.