Confluent (NASDAQ:CFLT) Price Target Increased to $26.00 by Analysts at JPMorgan Chase & Co.

Confluent (NASDAQ:CFLT) had its price target hoisted by JPMorgan Chase & Co. from $25.00 to $26.00 in a report published on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

Other analysts have also issued research reports about the company. Piper Sandler dropped their price target on Confluent from $37.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Loop Capital cut their target price on shares of Confluent from $30.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, July 19th. Royal Bank of Canada cut their target price on shares of Confluent from $35.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Robert W. Baird assumed coverage on shares of Confluent in a research note on Wednesday, September 4th. They set a “neutral” rating and a $23.00 target price on the stock. Finally, Bank of America cut their target price on shares of Confluent from $32.00 to $26.00 and set an “underperform” rating on the stock in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Confluent has a consensus rating of “Moderate Buy” and a consensus target price of $29.79.

Confluent Price Performance

Shares of Confluent stock opened at $22.60 on Friday. The company’s fifty day simple moving average is $20.79 and its two-hundred day simple moving average is $24.73. Confluent has a 12-month low of $14.69 and a 12-month high of $35.07. The firm has a market cap of $7.18 billion, a PE ratio of -18.08 and a beta of 0.88. The company has a quick ratio of 4.44, a current ratio of 4.44 and a debt-to-equity ratio of 1.25.

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

Insiders Place Their Bets

In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $19.99, for a total value of $4,647,675.00. Following the completion of the transaction, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at approximately $9,045,235.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $19.99, for a total value of $4,647,675.00. Following the completion of the transaction, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at approximately $9,045,235.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lara Caimi sold 9,375 shares of Confluent stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $20.01, for a total transaction of $187,593.75. Following the completion of the sale, the director now owns 7,160 shares of the company’s stock, valued at $143,271.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 524,453 shares of company stock valued at $10,833,388. Insiders own 13.82% of the company’s stock.

Institutional Trading of Confluent

Large investors have recently made changes to their positions in the stock. Hollencrest Capital Management bought a new stake in shares of Confluent in the first quarter worth approximately $26,000. V Square Quantitative Management LLC bought a new stake in Confluent during the second quarter valued at approximately $68,000. UniSuper Management Pty Ltd grew its position in 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 buying an additional 1,500 shares during the period. Advisors Asset Management Inc. grew its position in 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 buying an additional 859 shares during the period. Finally, Lazard Asset Management LLC grew its position in Confluent by 25.5% during the first quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock valued at $175,000 after buying an additional 1,167 shares during the period. 78.09% of the stock is currently 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.