Confluent, Inc. (NASDAQ:CFLT) Receives Consensus Rating of "Moderate Buy" from Brokerages

Confluent, Inc. (NASDAQ:CFLT - Get Rating) has received a consensus recommendation of "Moderate Buy" from the fourteen research firms that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $34.93.

CFLT has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Confluent from $30.00 to $25.00 and set a "neutral" rating for the company in a research note on Thursday, November 3rd. Truist Financial initiated coverage on shares of Confluent in a research note on Friday, September 30th. They issued a "buy" rating and a $35.00 target price for the company. Barclays reduced their target price on shares of Confluent from $30.00 to $27.00 and set an "equal weight" rating for the company in a research note on Thursday, November 3rd. Morgan Stanley reduced their target price on shares of Confluent from $35.00 to $29.00 and set an "equal weight" rating for the company in a research note on Monday, December 19th. Finally, DA Davidson reduced their target price on shares of Confluent from $44.00 to $33.00 in a research note on Thursday, November 3rd.

Insider Buying and Selling at Confluent

In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of the company's stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $22.47, for a total transaction of $5,224,275.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Confluent news, SVP Chad Verbowski sold 9,441 shares of the company's stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $20.11, for a total transaction of $189,858.51. Following the sale, the senior vice president now directly owns 338,391 shares of the company's stock, valued at $6,805,043.01. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Edward Jay Kreps sold 232,500 shares of the company's stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $22.47, for a total transaction of $5,224,275.00. The disclosure for this sale can be found here. Insiders have sold a total of 829,987 shares of company stock valued at $18,552,363 over the last three months. 27.94% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Confluent

Institutional investors and hedge funds have recently modified their holdings of the company. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Confluent in the second quarter worth about $41,000. Ieq Capital LLC lifted its holdings in shares of Confluent by 12.2% in the second quarter. Ieq Capital LLC now owns 137,100 shares of the company's stock worth $3,186,000 after buying an additional 14,902 shares in the last quarter. Clay Northam Wealth Management LLC purchased a new stake in shares of Confluent in the second quarter worth about $552,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of Confluent in the second quarter worth about $1,165,000. Finally, Focused Wealth Management Inc lifted its holdings in shares of Confluent by 101.8% in the second quarter. Focused Wealth Management Inc now owns 1,725 shares of the company's stock worth $40,000 after buying an additional 870 shares in the last quarter. 40.66% of the stock is owned by hedge funds and other institutional investors.

Confluent Stock Up 1.1 %

Confluent stock opened at $22.24 on Monday. The company has a quick ratio of 5.74, a current ratio of 5.74 and a debt-to-equity ratio of 1.38. Confluent has a 12-month low of $16.48 and a 12-month high of $81.11. The firm's fifty day moving average is $22.70 and its 200 day moving average is $24.82. The company has a market capitalization of $6.37 billion, a PE ratio of -13.32 and a beta of 1.06.

Confluent (NASDAQ:CFLT - Get Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.40) EPS for the quarter, meeting analysts' consensus estimates of ($0.40). The business had revenue of $151.73 million during the quarter, compared to analyst estimates of $144.39 million. Confluent had a negative net margin of 85.83% and a negative return on equity of 55.60%. As a group, sell-side analysts predict that Confluent will post -1.62 EPS for the current fiscal year.

Confluent Company Profile

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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