Confluent (NASDAQ:CFLT) Given New $28.00 Price Target at Deutsche Bank Aktiengesellschaft

Confluent (NASDAQ:CFLTGet Rating) had its price target reduced by analysts at Deutsche Bank Aktiengesellschaft from $63.00 to $28.00 in a research note issued on Friday, The Fly reports. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential downside of 0.88% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Credit Suisse Group dropped their target price on shares of Confluent from $115.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, February 11th. Wells Fargo & Company dropped their target price on shares of Confluent from $75.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, March 15th. The Goldman Sachs Group dropped their target price on shares of Confluent from $75.00 to $48.00 and set a “neutral” rating for the company in a research report on Thursday, April 14th. Zacks Investment Research upgraded shares of Confluent from a “sell” rating to a “hold” rating in a research report on Thursday, March 17th. Finally, Barclays dropped their target price on shares of Confluent from $71.00 to $44.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 19th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $63.78.

Shares of Confluent stock opened at $28.25 on Friday. Confluent has a twelve month low of $27.43 and a twelve month high of $94.97. The company has a current ratio of 6.39, a quick ratio of 6.39 and a debt-to-equity ratio of 1.27. The company has a 50-day simple moving average of $37.26 and a two-hundred day simple moving average of $57.61.

Confluent (NASDAQ:CFLTGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.23. The business had revenue of $126.10 million during the quarter, compared to analysts’ expectations of $118.49 million. Confluent had a negative net margin of 88.38% and a negative return on equity of 51.90%. The business’s revenue was up 63.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.29) EPS. Analysts predict that Confluent will post -1.57 EPS for the current fiscal year.

In other news, Director Neha Narkhede sold 27,400 shares of the company’s stock in a transaction on Wednesday, February 16th. The shares were sold at an average price of $58.09, for a total value of $1,591,666.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Brad Gerstner acquired 51,000 shares of Confluent stock in a transaction dated Wednesday, April 20th. The stock was purchased at an average cost of $39.31 per share, for a total transaction of $2,004,810.00. Following the completion of the purchase, the insider now owns 5,929,583 shares in the company, valued at approximately $233,091,907.73. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 774,583 shares of company stock worth $29,211,858 and have sold 634,025 shares worth $27,704,768. Insiders own 27.94% of the company’s stock.

Several large investors have recently bought and sold shares of the company. LA Financiere DE L Echiquier boosted its stake in shares of Confluent by 26.3% in the 1st quarter. LA Financiere DE L Echiquier now owns 663,000 shares of the company’s stock valued at $27,183,000 after purchasing an additional 138,000 shares during the last quarter. New York State Common Retirement Fund bought a new stake in shares of Confluent in the 1st quarter valued at $732,000. Motley Fool Asset Management LLC bought a new position in Confluent during the first quarter worth $226,000. Versor Investments LP bought a new position in Confluent during the first quarter worth $423,000. Finally, Litman Gregory Wealth Management LLC bought a new position in Confluent during the first quarter worth $1,230,000. 37.20% of the stock is currently owned by institutional investors.

About Confluent (Get Rating)

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

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