Confluent (NASDAQ:CFLT) Earns Buy Rating from Canaccord Genuity Group

Confluent (NASDAQ:CFLT)‘s stock had its “buy” rating reissued by equities researchers at Canaccord Genuity Group in a research note issued on Wednesday,Benzinga reports. They presently have a $27.00 price objective on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 14.80% from the company’s previous close.

Several other research firms have also commented on CFLT. Robert W. Baird upped their price target on shares of Confluent from $20.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday. Wells Fargo & Company upped their price target on shares of Confluent from $24.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday. Oppenheimer upped their price target on shares of Confluent from $26.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Confluent in a report on Wednesday, October 8th. Finally, Zacks Research raised shares of Confluent from a “strong sell” rating to a “hold” rating in a report on Monday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.97.

Confluent Price Performance

Shares of CFLT opened at $23.52 on Wednesday. The firm has a market capitalization of $8.11 billion, a PE ratio of -26.13 and a beta of 0.96. The company has a debt-to-equity ratio of 0.98, a current ratio of 4.01 and a quick ratio of 3.98. Confluent has a 1-year low of $15.64 and a 1-year high of $37.90. The company’s fifty day moving average price is $20.74 and its 200-day moving average price is $21.85.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results on Monday, October 27th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. Confluent had a negative net margin of 27.32% and a negative return on equity of 25.40%. The company had revenue of $298.52 million for the quarter, compared to analyst estimates of $292.69 million. During the same period in the prior year, the company earned $0.10 earnings per share. The firm’s revenue was up 19.3% on a year-over-year basis. Confluent has set its Q4 2025 guidance at 0.090-0.100 EPS. FY 2025 guidance at 0.390-0.400 EPS. On average, equities research analysts predict that Confluent will post -0.83 EPS for the current year.

Insiders Place Their Bets

In other Confluent news, Director Eric Vishria sold 30,953 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $20.00, for a total value of $619,060.00. Following the completion of the transaction, the director owned 1,123,447 shares in the company, valued at approximately $22,468,940. This represents a 2.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Ban Ryan Norris Mac sold 15,200 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $17.01, for a total transaction of $258,552.00. Following the transaction, the executive owned 397,345 shares of the company’s stock, valued at approximately $6,758,838.45. This trade represents a 3.68% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 741,584 shares of company stock valued at $13,597,695. Insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. NorthCrest Asset Manangement LLC purchased a new position in Confluent in the 3rd quarter valued at about $211,000. Inspire Advisors LLC purchased a new position in Confluent in the 3rd quarter worth approximately $2,106,000. Amalgamated Bank lifted its stake in Confluent by 9.9% in the 3rd quarter. Amalgamated Bank now owns 21,894 shares of the company’s stock worth $434,000 after purchasing an additional 1,981 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Confluent in the 3rd quarter worth approximately $135,000. Finally, BCS Private Wealth Management Inc. lifted its stake in Confluent by 69.8% in the 3rd quarter. BCS Private Wealth Management Inc. now owns 26,495 shares of the company’s stock worth $525,000 after purchasing an additional 10,895 shares in the last quarter. 78.09% of the stock is owned by hedge funds and other institutional investors.

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.