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

Shares of Confluent, Inc. (NASDAQ:CFLTGet Free Report) have received an average rating of “Moderate Buy” from the twenty-four brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $30.20.

Several research firms recently commented on CFLT. Wolfe Research upgraded Confluent from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research note on Friday, November 3rd. Scotiabank increased their target price on Confluent from $22.00 to $28.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 8th. Truist Financial dropped their target price on Confluent from $42.00 to $27.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Capital One Financial upgraded Confluent from an “equal weight” rating to an “overweight” rating and set a $27.00 target price on the stock in a research report on Wednesday, November 8th. Finally, Morgan Stanley dropped their target price on Confluent from $40.00 to $27.00 and set an “overweight” rating on the stock in a research report on Thursday, November 2nd.

Get Our Latest Report on CFLT

Insider Activity

In other news, CAO Ying Christina Liu sold 4,240 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $18.73, for a total transaction of $79,415.20. Following the transaction, the chief accounting officer now directly owns 127,265 shares of the company’s stock, valued at $2,383,673.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Ying Christina Liu sold 4,240 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $18.73, for a total transaction of $79,415.20. Following the transaction, the chief accounting officer now directly owns 127,265 shares of the company’s stock, valued at $2,383,673.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Stephanie Buscemi sold 3,385 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $18.73, for a total value of $63,401.05. Following the transaction, the chief marketing officer now directly owns 110,792 shares in the company, valued at $2,075,134.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 439,216 shares of company stock valued at $10,241,051. 22.08% of the stock is currently owned by insiders.

Institutional Trading of Confluent

Large investors have recently modified their holdings of the business. Advisors Asset Management Inc. bought a new stake in shares of Confluent in the first quarter worth about $30,000. Geneos Wealth Management Inc. purchased a new stake in Confluent in the first quarter worth about $43,000. UniSuper Management Pty Ltd purchased a new stake in Confluent in the third quarter worth about $36,000. Rakuten Securities Inc. purchased a new stake in Confluent in the fourth quarter worth about $31,000. Finally, Quest Partners LLC purchased a new stake in Confluent in the fourth quarter worth about $31,000. 59.30% of the stock is owned by institutional investors.

Confluent Price Performance

Confluent stock opened at $31.52 on Tuesday. Confluent has a 12 month low of $14.69 and a 12 month high of $41.22. The company has a current ratio of 4.98, a quick ratio of 4.98 and a debt-to-equity ratio of 1.38. The business’s 50 day simple moving average is $23.68 and its 200 day simple moving average is $26.72. The company has a market cap of $9.70 billion, a price-to-earnings ratio of -21.44 and a beta of 0.69.

Confluent Company Profile

(Get Free Report

Confluent, Inc operates a data streaming platform in the United States and internationally. The company offers Confluent Cloud, a managed cloud-native service for connecting and processing real-time data; and Confluent Platform, an enterprise-grade self-managed software that connects and processes data.

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Analyst Recommendations for Confluent (NASDAQ:CFLT)

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