Shares of Confluent, Inc. (NASDAQ:CFLT – Get Free Report) have been given an average rating of “Moderate Buy” by the thirty ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, twenty-one have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $29.79.
Several equities analysts have recently weighed in on the stock. Stifel Nicolaus cut their target price on shares of Confluent from $40.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Robert W. Baird assumed coverage on shares of Confluent in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $23.00 price objective for the company. Royal Bank of Canada dropped their target price on Confluent from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Canaccord Genuity Group reduced their price target on Confluent from $35.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Finally, Loop Capital lowered their price target on Confluent from $30.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, July 19th.
Read Our Latest Stock Analysis on Confluent
Insiders Place Their Bets
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. EP Wealth Advisors LLC acquired a new position in shares of Confluent in the 4th quarter valued at $525,000. Vanguard Group Inc. lifted its position in Confluent by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 19,071,645 shares of the company’s stock valued at $446,276,000 after buying an additional 647,251 shares during the last quarter. Renaissance Capital LLC boosted its stake in Confluent by 6.6% during the first quarter. Renaissance Capital LLC now owns 126,006 shares of the company’s stock worth $3,846,000 after buying an additional 7,809 shares during the period. Fulton Bank N.A. acquired a new stake in shares of Confluent during the first quarter valued at about $216,000. Finally, Banque Cantonale Vaudoise raised its stake in shares of Confluent by 58.0% in the 1st quarter. Banque Cantonale Vaudoise now owns 20,185 shares of the company’s stock valued at $616,000 after acquiring an additional 7,412 shares during the period. 78.09% of the stock is currently owned by hedge funds and other institutional investors.
Confluent Price Performance
NASDAQ:CFLT opened at $22.32 on Friday. The firm’s fifty day moving average is $20.68 and its two-hundred day moving average is $25.16. The firm has a market cap of $7.09 billion, a price-to-earnings ratio of -17.86 and a beta of 0.88. Confluent has a one year low of $14.69 and a one year high of $35.07. The company has a debt-to-equity ratio of 1.25, a quick ratio of 4.44 and a current ratio of 4.44.
Confluent (NASDAQ:CFLT – Get Free Report) last posted its earnings results on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The company had revenue of $234.99 million for the quarter, compared to analyst estimates of $229.49 million. Confluent had a negative return on equity of 37.78% and a negative net margin of 42.70%. Research analysts expect 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.
See Also
- Five stocks we like better than Confluent
- NYSE Stocks Give Investors a Variety of Quality OptionsĀ
- Taiwan Semiconductor Soars on Earnings With More Room to Run
- Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?
- Is Lucid Group Nearing the Bottom? What Investors Should Know
- Overbought Stocks Explained: Should You Trade Them?
- 90% Gain Possible? Analysts Are Bullish on Joby Aviation
Receive News & Ratings for Confluent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Confluent and related companies with MarketBeat.com's FREE daily email newsletter.