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

Shares of Confluent, Inc. (NASDAQ:CFLT) have been assigned a consensus rating of “Moderate Buy” from the twenty-eight brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $30.88.

A number of equities research analysts recently issued reports on the stock. Wolfe Research raised shares of Confluent to a “strong-buy” rating in a research note on Wednesday, September 18th. Barclays upped their target price on shares of Confluent from $29.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Citigroup lifted their price target on Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. DA Davidson restated a “buy” rating and set a $30.00 price objective on shares of Confluent in a research report on Wednesday, September 18th. Finally, Sanford C. Bernstein lowered their price objective on Confluent from $38.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, October 25th.

Insider Transactions at Confluent

In other news, insider Erica Schultz sold 63,729 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $31.60, for a total value of $2,013,836.40. Following the completion of the sale, the insider now owns 678,016 shares in the company, valued at approximately $21,425,305.60. The trade was a 8.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Stephanie Buscemi sold 164,123 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $26.24, for a total transaction of $4,306,587.52. Following the transaction, the chief marketing officer now owns 149,644 shares in the company, valued at approximately $3,926,658.56. This represents a 52.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,237,879 shares of company stock valued at $118,823,850. 13.82% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CFLT. Cetera Advisors LLC boosted its position in Confluent by 209.6% during the first quarter. Cetera Advisors LLC now owns 31,971 shares of the company’s stock valued at $976,000 after purchasing an additional 21,646 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Confluent by 8.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 10,681 shares of the company’s stock valued at $322,000 after buying an additional 857 shares in the last quarter. Fulton Bank N.A. grew its position in shares of Confluent by 15.0% in the 2nd quarter. Fulton Bank N.A. now owns 8,145 shares of the company’s stock worth $241,000 after buying an additional 1,064 shares during the last quarter. CWM LLC raised its stake in shares of Confluent by 17.6% during the 2nd quarter. CWM LLC now owns 10,099 shares of the company’s stock worth $298,000 after acquiring an additional 1,515 shares in the last quarter. Finally, Sax Wealth Advisors LLC bought a new position in shares of Confluent during the 2nd quarter worth approximately $1,535,000. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Confluent Price Performance

NASDAQ:CFLT opened at $30.84 on Monday. The business’s 50-day moving average is $24.40 and its 200 day moving average is $24.64. Confluent has a 12 month low of $17.79 and a 12 month high of $35.07. The company has a market capitalization of $10.12 billion, a P/E ratio of -27.78 and a beta of 0.82. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. The business had revenue of $250.20 million for the quarter, compared to the consensus estimate of $243.98 million. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. On average, equities research analysts forecast that Confluent will post -0.9 earnings per share for the current fiscal year.

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.