Barclays Raises Confluent (NASDAQ:CFLT) Price Target to $37.00

Confluent (NASDAQ:CFLT) had its price target hoisted by research analysts at Barclays from $35.00 to $37.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 2.13% from the company’s previous close.

CFLT has been the subject of a number of other research reports. Royal Bank of Canada lifted their target price on Confluent from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Guggenheim raised their price target on Confluent from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Morgan Stanley restated an “equal weight” rating and issued a $30.00 price target (down from $33.00) on shares of Confluent in a research note on Thursday, January 16th. Scotiabank raised their price target on Confluent from $25.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Finally, Piper Sandler raised their price target on Confluent from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Confluent currently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

Confluent Stock Down 3.8 %

Confluent stock opened at $36.23 on Wednesday. The firm has a market cap of $11.88 billion, a price-to-earnings ratio of -32.64 and a beta of 0.92. The stock has a fifty day simple moving average of $29.64 and a two-hundred day simple moving average of $25.45. Confluent has a 12 month low of $17.79 and a 12 month high of $37.90. 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 posted its earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. Equities analysts predict that Confluent will post -0.9 EPS for the current fiscal year.

Insider Buying and Selling at Confluent

In other news, CMO Stephanie Buscemi sold 5,271 shares of Confluent stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total value of $148,800.33. Following the sale, the chief marketing officer now directly owns 144,373 shares of the company’s stock, valued at approximately $4,075,649.79. The trade was a 3.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Matthew Craig Miller sold 53,512 shares of Confluent stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $33.64, for a total value of $1,800,143.68. The disclosure for this sale can be found here. Insiders have sold a total of 1,508,636 shares of company stock valued at $47,198,798 over the last ninety days. 13.82% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Confluent

Several large investors have recently made changes to their positions in CFLT. Blue Trust Inc. increased its holdings in shares of Confluent by 354.0% in the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after purchasing an additional 1,607 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Confluent in the fourth quarter worth about $59,000. Point72 Hong Kong Ltd bought a new stake in Confluent during the third quarter worth approximately $68,000. GAMMA Investing LLC increased its stake in Confluent by 85.3% during the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after acquiring an additional 1,136 shares during the last quarter. Finally, AlphaQuest LLC increased its stake in Confluent by 22,112.5% during the fourth quarter. AlphaQuest LLC now owns 3,554 shares of the company’s stock worth $99,000 after acquiring an additional 3,538 shares during the last quarter. 78.09% of the stock is owned by institutional investors.

Confluent Company Profile

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.