Confluent (NASDAQ:CFLT) Stock Price Expected to Rise, Barclays Analyst Says

Confluent (NASDAQ:CFLT) had its price target raised by stock analysts at Barclays from $29.00 to $32.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 22.04% from the company’s current price.

CFLT has been the topic of several other reports. JPMorgan Chase & Co. upped their target price on Confluent from $25.00 to $26.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Mizuho increased their price target on Confluent from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday. TD Cowen cut their price target on Confluent from $31.00 to $27.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Baird R W upgraded Confluent to a “hold” rating in a report on Wednesday, September 4th. Finally, Truist Financial restated a “buy” rating and set a $30.00 price target (down from $36.00) on shares of Confluent in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Confluent has a consensus rating of “Moderate Buy” and an average price target of $30.28.

Confluent Stock Up 0.2 %

CFLT stock opened at $26.22 on Thursday. The company has a market cap of $8.46 billion, a PE ratio of -23.62 and a beta of 0.88. The business has a 50-day simple moving average of $21.04 and a 200 day simple moving average of $24.67. Confluent has a 52 week low of $14.69 and a 52 week high of $35.07. 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 quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.03. Confluent had a negative return on equity of 34.97% and a negative net margin of 38.35%. The business had revenue of $250.20 million during the quarter, compared to the consensus estimate of $243.98 million. Sell-side analysts anticipate that Confluent will post -0.95 EPS for the current fiscal year.

Insider Activity at Confluent

In related news, CMO Stephanie Buscemi sold 3,866 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total value of $83,814.88. Following the completion of the sale, the chief marketing officer now directly owns 161,673 shares of the company’s stock, valued at approximately $3,505,070.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Rohan Sivaram sold 22,926 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total transaction of $497,035.68. Following the completion of the sale, the chief financial officer now directly owns 555,337 shares of the company’s stock, valued at $12,039,706.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CMO Stephanie Buscemi sold 3,866 shares of the firm’s stock in a transaction 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 sale, the chief marketing officer now directly owns 161,673 shares of the company’s stock, valued at approximately $3,505,070.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 524,453 shares of company stock valued at $10,833,388. 13.82% of the stock is owned by insiders.

Institutional Investors Weigh In On Confluent

Several large investors have recently made changes to their positions in the business. Hollencrest Capital Management bought a new position in shares of Confluent during the 1st quarter worth $26,000. V Square Quantitative Management LLC bought a new position in shares of Confluent during the 2nd quarter worth $68,000. UniSuper Management Pty Ltd grew its stake in shares of 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 during the period. Advisors Asset Management Inc. grew its stake in shares of Confluent by 40.3% during the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after acquiring an additional 859 shares during the period. Finally, Lazard Asset Management LLC grew its stake in shares of Confluent by 25.5% during the 1st quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock worth $175,000 after acquiring an additional 1,167 shares during the period. 78.09% of the stock is owned by hedge funds and other institutional investors.

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.