Analysts’ Recent Ratings Changes for Confluent (CFLT)

Several analysts have recently updated their ratings and price targets for Confluent (NASDAQ: CFLT):

  • 5/12/2022 – Confluent was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “sell” rating. According to Zacks, “Confluent Inc. provides platform for data in motion. Confluent Inc. is based in MOUNTAIN VIEW, Calif. “
  • 5/10/2022 – Confluent was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $22.00 price target on the stock. According to Zacks, “Confluent Inc. provides platform for data in motion. Confluent Inc. is based in MOUNTAIN VIEW, Calif. “
  • 5/6/2022 – Confluent had its price target lowered by analysts at Credit Suisse Group AG from $100.00 to $80.00.
  • 5/6/2022 – Confluent had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $63.00 to $28.00.
  • 4/19/2022 – Confluent had its price target lowered by analysts at Barclays PLC from $71.00 to $44.00. They now have an “equal weight” rating on the stock.
  • 4/14/2022 – Confluent had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $75.00 to $48.00. They now have a “neutral” rating on the stock.

NASDAQ CFLT opened at $20.00 on Wednesday. The company’s 50 day simple moving average is $34.38 and its 200 day simple moving average is $54.93. The company has a market capitalization of $5.57 billion and a P/E ratio of -10.26. The company has a debt-to-equity ratio of 1.27, a current ratio of 6.39 and a quick ratio of 6.39. Confluent, Inc. has a 12 month low of $17.36 and a 12 month high of $94.97.

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 analysts’ consensus estimates 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 94.12% and a negative return on equity of 41.55%. Confluent’s revenue for the quarter was up 63.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.29) earnings per share. On average, analysts anticipate that Confluent, Inc. will post -1.6 earnings per share for the current year.

In other Confluent news, CEO Edward Jay Kreps sold 2,403 shares of the company’s stock in a transaction that occurred on Monday, March 7th. The stock was sold at an average price of $36.26, for a total value of $87,132.78. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Brad Gerstner purchased 51,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 20th. The stock was bought at an average price of $39.31 per share, for a total transaction of $2,004,810.00. Following 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. In the last ninety days, insiders bought 774,583 shares of company stock worth $29,211,858 and sold 481,625 shares worth $19,335,602. 27.94% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. Walleye Capital LLC acquired a new position in Confluent during the 1st quarter worth approximately $1,836,000. Advisors Asset Management Inc. bought a new position in Confluent during the 1st quarter worth approximately $30,000. Altimeter Capital Management LP lifted its holdings in Confluent by 79.9% in the first quarter. Altimeter Capital Management LP now owns 5,306,700 shares of the company’s stock valued at $217,575,000 after buying an additional 2,356,700 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of Confluent in the 1st quarter valued at about $1,699,000. Finally, Quantbot Technologies LP lifted its stake in Confluent by 151.2% in the first quarter. Quantbot Technologies LP now owns 13,235 shares of the company’s stock valued at $542,000 after buying an additional 7,966 shares during the period. Hedge funds and other institutional investors own 37.20% of the company’s stock.

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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