Confluent (NASDAQ:CFLT) Receives “Outperform” Rating from William Blair

William Blair reiterated their outperform rating on shares of Confluent (NASDAQ:CFLT) in a research note released on Monday morning,RTT News reports.

Several other research analysts also recently commented on the company. Barclays lifted their target price on Confluent from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Canaccord Genuity Group boosted their price target on Confluent from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Loop Capital reduced their price target on Confluent from $34.00 to $30.00 and set a “hold” rating for the company in a research note on Monday, March 10th. Royal Bank of Canada boosted their price target on Confluent from $36.00 to $41.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Morgan Stanley boosted their price target on Confluent from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Confluent presently has an average rating of “Moderate Buy” and a consensus target price of $35.33.

Confluent Stock Performance

Shares of NASDAQ CFLT opened at $27.20 on Monday. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14. Confluent has a 12 month low of $17.79 and a 12 month high of $37.90. The stock has a 50 day moving average of $29.60 and a 200-day moving average of $26.86. The company has a market capitalization of $9.09 billion, a P/E ratio of -25.19 and a beta of 0.90.

Confluent (NASDAQ:CFLT) last issued its earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. As a group, equities research analysts predict that Confluent will post -0.83 EPS for the current year.

Insiders Place Their Bets

In other Confluent news, CAO Kong Phan sold 3,947 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $28.74, for a total value of $113,436.78. Following the completion of the transaction, the chief accounting officer now owns 179,939 shares of the company’s stock, valued at $5,171,446.86. This represents a 2.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $29.36, for a total value of $6,826,200.00. Following the completion of the transaction, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at approximately $13,285,047.68. The trade was a 33.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,201,518 shares of company stock valued at $38,533,306 in the last 90 days. Corporate insiders own 13.82% of the company’s stock.

Institutional Investors Weigh In On Confluent

A number of institutional investors have recently made changes to their positions in CFLT. Champlain Investment Partners LLC grew its position in shares of Confluent by 72.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock valued at $218,083,000 after buying an additional 4,486,841 shares during the last quarter. Norges Bank bought a new stake in shares of Confluent in the 4th quarter valued at about $81,092,000. Pictet Asset Management Holding SA grew its position in shares of Confluent by 7,342.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,351,516 shares of the company’s stock valued at $65,748,000 after buying an additional 2,319,919 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Confluent in the 4th quarter valued at about $64,658,000. Finally, MIG Capital LLC bought a new stake in shares of Confluent in the 4th quarter valued at about $27,007,000. Institutional investors own 78.09% of the company’s stock.

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.