Confluent (NASDAQ:CFLT) Coverage Initiated by Analysts at FBN Securities

FBN Securities initiated coverage on shares of Confluent (NASDAQ:CFLTGet Rating) in a research note released on Tuesday, The Fly reports. The brokerage issued an outperform rating and a $30.00 price target on the stock.

Other analysts have also issued research reports about the company. Citigroup lowered their target price on Confluent from $32.00 to $30.00 and set a neutral rating on the stock in a report on Tuesday, November 1st. Wells Fargo & Company decreased their price target on Confluent from $40.00 to $36.00 and set an overweight rating on the stock in a research note on Friday, January 6th. Morgan Stanley dropped their target price on Confluent from $35.00 to $29.00 and set an equal weight rating on the stock in a report on Monday, December 19th. Truist Financial dropped their price objective on Confluent from $35.00 to $30.00 in a report on Monday, January 9th. Finally, Barclays upgraded Confluent from an equal weight rating to an overweight rating and dropped their price objective for the stock from $27.00 to $24.00 in a report on Tuesday, January 10th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $33.13.

Confluent Stock Up 4.8 %

CFLT opened at $21.38 on Tuesday. The company has a quick ratio of 5.74, a current ratio of 5.74 and a debt-to-equity ratio of 1.38. The firm has a 50 day moving average price of $21.67 and a 200-day moving average price of $24.65. Confluent has a twelve month low of $16.48 and a twelve month high of $81.11. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of -12.22 and a beta of 1.01.

Confluent (NASDAQ:CFLTGet Rating) last released its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.40) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.40). The company had revenue of $151.73 million for the quarter, compared to the consensus estimate of $144.39 million. Confluent had a negative net margin of 85.83% and a negative return on equity of 55.60%. Equities research analysts forecast that Confluent will post -1.62 earnings per share for the current year.

Insider Buying and Selling at Confluent

In other news, major shareholder Ventures Vii (Jersey) L. Index sold 140,511 shares of the firm’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $23.01, for a total value of $3,233,158.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Confluent news, SVP Chad Verbowski sold 9,441 shares of the firm’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $20.11, for a total transaction of $189,858.51. Following the completion of the sale, the senior vice president now directly owns 338,391 shares in the company, valued at $6,805,043.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ventures Vii (Jersey) L. Index sold 140,511 shares of Confluent stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $23.01, for a total transaction of $3,233,158.11. The disclosure for this sale can be found here. Insiders have sold 829,987 shares of company stock valued at $18,552,363 in the last 90 days. 27.94% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Credit Suisse AG boosted its position in Confluent by 1.7% during the second quarter. Credit Suisse AG now owns 21,325 shares of the company’s stock valued at $495,000 after acquiring an additional 362 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Confluent by 37.7% during the second quarter. Geneos Wealth Management Inc. now owns 1,473 shares of the company’s stock valued at $36,000 after purchasing an additional 403 shares during the period. Public Employees Retirement System of Ohio raised its holdings in shares of Confluent by 0.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 62,332 shares of the company’s stock worth $1,482,000 after acquiring an additional 491 shares during the last quarter. Penserra Capital Management LLC raised its holdings in shares of Confluent by 50.0% in the 1st quarter. Penserra Capital Management LLC now owns 1,926 shares of the company’s stock worth $78,000 after acquiring an additional 642 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in shares of Confluent by 1.3% in the 3rd quarter. Treasurer of the State of North Carolina now owns 53,222 shares of the company’s stock worth $1,265,000 after acquiring an additional 680 shares during the last quarter. 40.66% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Stories

The Fly logo

Analyst Recommendations for Confluent (NASDAQ:CFLT)

Receive News & Ratings for Confluent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Confluent and related companies with MarketBeat.com's FREE daily email newsletter.