Shares of Confluent, Inc. (NASDAQ:CFLT - Get Free Report) have been given an average rating of "Moderate Buy" by the thirty analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned 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 price objective among analysts that have updated their coverage on the stock in the last year is $29.97.
Several research analysts have recently weighed in on CFLT shares. TD Cowen lowered their target price on Confluent from $31.00 to $27.00 and set a "buy" rating on the stock in a report on Friday, September 20th. Scotiabank cut their target price on Confluent from $28.00 to $25.00 and set a "sector perform" rating for the company in a research note on Thursday, August 1st. Stifel Nicolaus lowered their price target on shares of Confluent from $40.00 to $32.00 and set a "buy" rating on the stock in a research report on Thursday, August 1st. Loop Capital cut their price objective on shares of Confluent from $30.00 to $25.00 and set a "hold" rating for the company in a research report on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Confluent from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, August 1st.
Get Our Latest Report on Confluent
Shares of NASDAQ:CFLT opened at $22.23 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 4.44 and a quick ratio of 4.44. Confluent has a 1 year low of $14.69 and a 1 year high of $35.07. The firm has a market capitalization of $7.07 billion, a PE ratio of -17.78 and a beta of 0.88. The business's 50 day moving average price is $20.42 and its 200-day moving average price is $25.35.
Confluent (NASDAQ:CFLT - Get Free Report) last released its earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.04). The business had revenue of $234.99 million for the quarter, compared to analysts' expectations of $229.49 million. Confluent had a negative return on equity of 37.78% and a negative net margin of 42.70%. As a group, equities research analysts expect that Confluent will post -0.95 earnings per share for the current fiscal year.
In other news, CTO Chad Verbowski sold 13,540 shares of the business's stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total transaction of $293,547.20. Following the completion of the transaction, the chief technology officer now directly owns 496,807 shares of the company's stock, valued at approximately $10,770,775.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of the firm's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $21.13, for a total value of $4,912,725.00. Following the sale, the chief executive officer now directly owns 452,488 shares in the company, valued at $9,561,071.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Chad Verbowski sold 13,540 shares of the company's stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total value of $293,547.20. Following the transaction, the chief technology officer now directly owns 496,807 shares of the company's stock, valued at approximately $10,770,775.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 524,453 shares of company stock worth $10,833,388 in the last quarter. 13.82% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Hollencrest Capital Management purchased a new position in Confluent in the first quarter valued at approximately $26,000. V Square Quantitative Management LLC purchased a new position in shares of Confluent in the 2nd quarter valued at $68,000. UniSuper Management Pty Ltd raised its stake in Confluent by 125.0% during the 1st 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 in the last quarter. Advisors Asset Management Inc. lifted its position in Confluent by 40.3% in the first quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company's stock valued at $91,000 after acquiring an additional 859 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its stake in Confluent by 25.5% in the first quarter. Lazard Asset Management LLC now owns 5,747 shares of the company's stock valued at $175,000 after acquiring an additional 1,167 shares in the last quarter. Institutional investors and hedge funds own 78.09% of the company's stock.
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.
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