Confluent, Inc. (NASDAQ:CFLT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Confluent, Inc. (NASDAQ:CFLT) has received an average rating of “Moderate Buy” from the thirty analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $29.97.

A number of equities analysts recently issued reports on CFLT shares. Guggenheim reissued a “buy” rating and set a $37.00 price target on shares of Confluent in a report on Tuesday, June 25th. Canaccord Genuity Group dropped their target price on Confluent from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Bank of America decreased their price target on Confluent from $32.00 to $26.00 and set an “underperform” rating for the company in a report on Thursday, August 1st. TD Cowen dropped their price objective on shares of Confluent from $31.00 to $27.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Finally, Scotiabank cut their price objective on shares of Confluent from $28.00 to $25.00 and set a “sector perform” rating for the company in a research report on Thursday, August 1st.

Insider Buying and Selling at Confluent

In other news, CMO Stephanie Buscemi sold 3,866 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total value of $83,814.88. Following the completion of the transaction, the chief marketing officer now owns 161,673 shares of the company’s stock, valued at $3,505,070.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 452,488 shares of the company’s stock, valued at $9,045,235.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Stephanie Buscemi sold 3,866 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total transaction of $83,814.88. Following the transaction, the chief marketing officer now owns 161,673 shares in the company, valued at approximately $3,505,070.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 524,453 shares of company stock worth $10,833,388. Corporate insiders own 13.82% of the company’s stock.

Hedge Funds Weigh In On Confluent

Large investors have recently bought and sold shares of the stock. Hollencrest Capital Management acquired a new stake in shares of Confluent during the 1st quarter worth $26,000. V Square Quantitative Management LLC purchased a new stake in Confluent during the second quarter valued at about $68,000. UniSuper Management Pty Ltd increased its stake in Confluent by 125.0% during the first quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock worth $82,000 after acquiring an additional 1,500 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Confluent by 40.3% in the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after purchasing an additional 859 shares during the period. Finally, Lazard Asset Management LLC lifted its stake in shares of Confluent by 25.5% in the 1st quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock valued at $175,000 after purchasing an additional 1,167 shares in the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Confluent Price Performance

CFLT stock opened at $22.23 on Friday. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $7.07 billion, a P/E ratio of -17.78 and a beta of 0.88. The business has a 50 day simple moving average of $20.42 and a 200-day simple moving average of $25.35. Confluent has a twelve month low of $14.69 and a twelve month high of $35.07.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $234.99 million for the quarter, compared to analyst estimates of $229.49 million. As a group, equities analysts anticipate that Confluent will post -0.95 EPS for the current 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.