Mizuho Trims Confluent (NASDAQ:CFLT) Target Price to $36.00

Confluent (NASDAQ:CFLT) had its price objective reduced by Mizuho from $38.00 to $36.00 in a report released on Monday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently commented on CFLT. Wells Fargo & Company lifted their price objective on Confluent from $30.00 to $36.00 and gave the stock an overweight rating in a research note on Thursday, February 8th. Royal Bank of Canada lifted their target price on Confluent from $35.00 to $37.00 and gave the stock an outperform rating in a report on Wednesday, February 14th. JMP Securities lifted their target price on Confluent from $25.00 to $38.00 and gave the stock a market outperform rating in a report on Thursday, February 8th. Loop Capital initiated coverage on Confluent in a report on Tuesday, January 30th. They set a hold rating and a $23.00 target price on the stock. Finally, DA Davidson reiterated a buy rating and set a $37.00 target price on shares of Confluent in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $30.64.

Confluent Stock Down 0.5 %

Shares of Confluent stock opened at $28.41 on Monday. The company has a quick ratio of 4.62, a current ratio of 4.62 and a debt-to-equity ratio of 1.34. Confluent has a 12 month low of $14.69 and a 12 month high of $41.22. The business has a fifty day simple moving average of $31.38 and a 200 day simple moving average of $26.42. The stock has a market cap of $8.88 billion, a PE ratio of -19.33 and a beta of 0.91.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings data on Wednesday, February 7th. The company reported ($0.20) 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 company had revenue of $213.18 million for the quarter, compared to analyst estimates of $204.62 million. Research analysts predict that Confluent will post -0.92 EPS for the current year.

Insider Activity at Confluent

In related news, CTO Chad Verbowski sold 8,086 shares of Confluent stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $31.20, for a total value of $252,283.20. Following the sale, the chief technology officer now owns 532,072 shares of the company’s stock, valued at $16,600,646.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Confluent news, CAO Ying Christina Liu sold 4,109 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 123,497 shares of the company’s stock, valued at $3,970,428.55. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Chad Verbowski sold 8,086 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $31.20, for a total value of $252,283.20. Following the transaction, the chief technology officer now directly owns 532,072 shares in the company, valued at approximately $16,600,646.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,433,170 shares of company stock valued at $46,438,029. 22.08% of the stock is owned by insiders.

Hedge Funds Weigh In On Confluent

A number of institutional investors have recently bought and sold shares of CFLT. Advisors Asset Management Inc. acquired a new position in Confluent during the first quarter worth approximately $30,000. Rakuten Securities Inc. acquired a new position in shares of Confluent in the fourth quarter valued at approximately $31,000. Quest Partners LLC acquired a new position in shares of Confluent in the fourth quarter valued at approximately $31,000. GAMMA Investing LLC acquired a new position in shares of Confluent in the fourth quarter valued at approximately $35,000. Finally, UniSuper Management Pty Ltd acquired a new position in shares of Confluent in the third quarter valued at approximately $36,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

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.