Confluent, Inc. (NASDAQ:CFLT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Confluent, Inc. (NASDAQ:CFLT) has been given a consensus recommendation of “Moderate Buy” by the twenty-nine research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $35.00.

CFLT has been the topic of several recent research reports. TD Cowen raised their price target on Confluent from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Wells Fargo & Company raised their price target on Confluent from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. raised their price target on Confluent from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Citigroup raised their price target on Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Finally, Bank of America raised their price target on Confluent from $26.00 to $31.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 12th.

Confluent Price Performance

CFLT stock opened at $33.23 on Friday. The firm has a market cap of $10.90 billion, a P/E ratio of -30.77 and a beta of 0.92. The firm’s fifty day moving average is $29.83 and its 200 day moving average is $25.79. Confluent has a 52 week low of $17.79 and a 52 week high of $37.90. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative net margin of 35.81% and a negative return on equity of 35.45%. Research analysts predict that Confluent will post -0.83 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Kong Phan sold 6,346 shares of Confluent stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $36.22, for a total value of $229,852.12. Following the completion of the sale, the chief accounting officer now owns 179,593 shares of the company’s stock, valued at $6,504,858.46. The trade was a 3.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Erica Schultz sold 63,729 shares of Confluent stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $34.75, for a total value of $2,214,582.75. Following the completion of the sale, the insider now directly owns 678,016 shares of the company’s stock, valued at $23,561,056. The trade was a 8.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,163,520 shares of company stock valued at $38,727,870. Corporate insiders own 13.82% of the company’s stock.

Institutional Trading of Confluent

Several large investors have recently modified their holdings of CFLT. Credit Industriel ET Commercial bought a new stake in shares of Confluent in the fourth quarter worth $28,000. Blue Trust Inc. lifted its position in Confluent by 354.0% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock valued at $58,000 after purchasing an additional 1,607 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Confluent during the fourth quarter valued at $59,000. Point72 Hong Kong Ltd purchased a new position in Confluent during the third quarter valued at $68,000. Finally, GAMMA Investing LLC lifted its position in Confluent by 85.3% during the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after purchasing an additional 1,136 shares in the last quarter. Institutional investors own 78.09% of the company’s stock.

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.