Confluent, Inc. (NASDAQ:CFLT) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Confluent, Inc. (NASDAQ:CFLT – Get Rating) have earned an average recommendation of “Moderate Buy” from the nineteen research firms that are currently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $30.74.

Several equities research analysts have recently issued reports on CFLT shares. Piper Sandler lowered their price objective on shares of Confluent from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, January 5th. Scotiabank downgraded shares of Confluent from a “sector outperform” rating to a “sector perform” rating and set a $21.00 price objective for the company. in a research report on Friday, January 6th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $31.00 target price on shares of Confluent in a research report on Monday, March 6th. Barclays raised their target price on shares of Confluent from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, January 31st. Finally, FBN Securities began coverage on shares of Confluent in a research report on Tuesday, January 17th. They issued an “outperform” rating and a $30.00 target price for the company.

Confluent Trading Down 4.6 %

CFLT opened at $21.88 on Friday. The firm’s fifty day moving average is $23.72 and its two-hundred day moving average is $23.56. The company has a debt-to-equity ratio of 1.41, a quick ratio of 5.18 and a current ratio of 5.18. Confluent has a twelve month low of $16.48 and a twelve month high of $44.97. The firm has a market cap of $6.37 billion, a PE ratio of -13.59 and a beta of 0.98.

Confluent (NASDAQ:CFLT – Get Rating) last issued its quarterly earnings data on Monday, January 30th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.06. Confluent had a negative net margin of 77.24% and a negative return on equity of 55.61%. The company had revenue of $168.70 million during the quarter, compared to the consensus estimate of $162.53 million. During the same quarter in the prior year, the firm earned ($0.43) earnings per share. The firm’s revenue was up 40.7% compared to the same quarter last year. Equities research analysts anticipate that Confluent will post -1.2 EPS for the current year.

Insider Transactions at Confluent

In other news, CEO Edward Jay Kreps sold 232,500 shares of the firm’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $26.15, for a total transaction of $6,079,875.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Ventures Vii (Jersey) L. Index sold 644,814 shares of the company’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $26.93, for a total transaction of $17,364,841.02. Following the completion of the sale, the insider now owns 108,230 shares of the company’s stock, valued at approximately $2,914,633.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $26.15, for a total transaction of $6,079,875.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,692,183 shares of company stock worth $44,076,372. 27.94% of the stock is owned by insiders.

Institutional Trading of Confluent

A number of institutional investors and hedge funds have recently made changes to their positions in CFLT. C M Bidwell & Associates Ltd. bought a new stake in shares of Confluent during the 3rd quarter worth approximately $29,000. Sands Capital Ventures LLC bought a new position in Confluent in the 4th quarter valued at approximately $30,000. Advisors Asset Management Inc. bought a new position in Confluent in the 1st quarter valued at approximately $30,000. US Bancorp DE bought a new position in Confluent in the 3rd quarter valued at approximately $31,000. Finally, Lazard Asset Management LLC lifted its stake in Confluent by 311.8% in the 3rd quarter. Lazard Asset Management LLC now owns 1,647 shares of the company’s stock valued at $39,000 after purchasing an additional 1,247 shares during the last quarter. Institutional investors own 40.66% of the company’s stock.

About Confluent

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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.