Several analysts have recently updated their ratings and price targets for Confluent (NASDAQ: CFLT):
- 9/23/2024 – Confluent had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $28.00 price target on the stock.
- 9/20/2024 – Confluent had its price target lowered by analysts at Evercore ISI from $33.00 to $28.00. They now have an “outperform” rating on the stock.
- 9/20/2024 – Confluent had its price target lowered by analysts at TD Cowen from $31.00 to $27.00. They now have a “buy” rating on the stock.
- 9/18/2024 – Confluent was upgraded by analysts at Wolfe Research to a “strong-buy” rating.
- 9/18/2024 – Confluent had its “buy” rating reaffirmed by analysts at DA Davidson. They now have a $30.00 price target on the stock.
- 9/4/2024 – Confluent is now covered by analysts at Robert W. Baird. They set a “neutral” rating and a $23.00 price target on the stock.
- 9/4/2024 – Confluent was upgraded by analysts at Baird R W to a “hold” rating.
- 8/9/2024 – Confluent was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating. They now have a $25.00 price target on the stock.
- 8/1/2024 – Confluent had its price target lowered by analysts at Bank of America Co. from $32.00 to $26.00. They now have an “underperform” rating on the stock.
- 8/1/2024 – Confluent had its price target lowered by analysts at Scotiabank from $28.00 to $25.00. They now have a “sector perform” rating on the stock.
- 8/1/2024 – Confluent had its price target lowered by analysts at Piper Sandler from $37.00 to $32.00. They now have an “overweight” rating on the stock.
- 8/1/2024 – Confluent had its price target lowered by analysts at Wells Fargo & Company from $38.00 to $34.00. They now have an “overweight” rating on the stock.
- 8/1/2024 – Confluent had its price target lowered by analysts at Royal Bank of Canada from $35.00 to $30.00. They now have an “outperform” rating on the stock.
- 8/1/2024 – Confluent had its price target lowered by analysts at TD Cowen from $34.00 to $31.00. They now have a “buy” rating on the stock.
- 8/1/2024 – Confluent had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $35.00 to $30.00. They now have a “buy” rating on the stock.
- 8/1/2024 – Confluent had its price target lowered by analysts at DA Davidson from $37.00 to $30.00. They now have a “buy” rating on the stock.
- 8/1/2024 – Confluent had its price target lowered by analysts at Stifel Nicolaus from $40.00 to $32.00. They now have a “buy” rating on the stock.
- 8/1/2024 – Confluent had its price target lowered by analysts at Canaccord Genuity Group Inc. from $35.00 to $34.00. They now have a “buy” rating on the stock.
- 8/1/2024 – Confluent had its “buy” rating reaffirmed by analysts at Truist Financial Co.. They now have a $30.00 price target on the stock, down previously from $36.00.
- 7/30/2024 – Confluent had its price target lowered by analysts at Citigroup Inc. from $32.00 to $28.00. They now have a “neutral” rating on the stock.
- 7/30/2024 – Confluent had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $38.00 price target on the stock.
Confluent Price Performance
CFLT stock traded down $0.38 during midday trading on Monday, reaching $19.98. The company had a trading volume of 1,141,606 shares, compared to its average volume of 4,406,602. The company has a debt-to-equity ratio of 1.25, a current ratio of 4.44 and a quick ratio of 4.44. Confluent, Inc. has a 1 year low of $14.69 and a 1 year high of $35.07. The company has a market capitalization of $6.35 billion, a P/E ratio of -15.98 and a beta of 0.88. The firm has a 50-day moving average price of $21.71 and a 200-day moving average price of $26.52.
Confluent (NASDAQ:CFLT – Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.04). Confluent had a negative return on equity of 37.78% and a negative net margin of 42.70%. The company had revenue of $234.99 million during the quarter, compared to the consensus estimate of $229.49 million. On average, research analysts anticipate that Confluent, Inc. will post -0.95 earnings per share for the current fiscal year.
Insider Activity at Confluent
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of CFLT. Hollencrest Capital Management bought a new stake in shares of Confluent in the first quarter valued at about $26,000. Quest Partners LLC acquired a new position in shares of Confluent during the fourth quarter valued at about $31,000. V Square Quantitative Management LLC acquired a new position in shares of Confluent during the second quarter valued at about $68,000. UniSuper Management Pty Ltd increased its holdings in shares of Confluent by 125.0% during the first quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock valued at $82,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings 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 valued at $91,000 after acquiring an additional 859 shares in the last quarter. 78.09% of the stock is owned by hedge funds and other institutional investors.
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.
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