Confluent (NASDAQ:CFLT) Price Target Raised to $31.00

Confluent (NASDAQ:CFLT) had its target price boosted by TD Cowen from $27.00 to $31.00 in a research note issued to investors on Thursday, Benzinga reports. TD Cowen currently has a buy rating on the stock.

Several other analysts have also recently issued reports on the company. Evercore ISI decreased their price objective on Confluent from $33.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 price target on shares of Confluent in a report on Tuesday, October 29th. Piper Sandler dropped their price target on Confluent from $37.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Stifel Nicolaus decreased their price objective on Confluent from $40.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Finally, Needham & Company LLC lifted their target price on Confluent from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.39.

Confluent Price Performance

CFLT stock opened at $26.22 on Thursday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 4.44 and a current ratio of 4.44. The company’s fifty day moving average price is $21.04 and its 200-day moving average price is $24.64. Confluent has a one year low of $14.69 and a one year high of $35.07. The company has a market capitalization of $8.46 billion, a PE ratio of -23.62 and a beta of 0.88.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.03. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.97%. The business had revenue of $250.20 million for the quarter, compared to analysts’ expectations of $243.98 million. On average, equities analysts anticipate that Confluent will post -0.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $19.99, for a total value of $4,647,675.00. Following the completion of the sale, the chief executive officer now owns 452,488 shares in the company, valued at approximately $9,045,235.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $19.99, for a total transaction of $4,647,675.00. Following the transaction, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at $9,045,235.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Lara Caimi sold 9,375 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $20.01, for a total value of $187,593.75. Following the sale, the director now owns 7,160 shares of the company’s stock, valued at approximately $143,271.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 524,453 shares of company stock worth $10,833,388 in the last three months. Corporate insiders own 13.82% of the company’s stock.

Institutional Trading of Confluent

A number of institutional investors have recently modified their holdings of CFLT. Daiwa Securities Group Inc. lifted its position in Confluent by 7.1% during the first quarter. Daiwa Securities Group Inc. now owns 12,100 shares of the company’s stock valued at $369,000 after acquiring an additional 800 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Confluent by 8.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 10,681 shares of the company’s stock worth $322,000 after purchasing an additional 857 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Confluent by 40.3% during the first quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after purchasing an additional 859 shares in the last quarter. Hollencrest Capital Management purchased a new stake in shares of Confluent during the 1st quarter valued at $26,000. Finally, Resolute Advisors LLC boosted its position in shares of Confluent by 11.1% in the 1st quarter. Resolute Advisors LLC now owns 8,693 shares of the company’s stock worth $265,000 after purchasing an additional 869 shares in the last quarter. 78.09% of the stock is currently owned by 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.