Barclays Issues Positive Forecast for Confluent (NASDAQ:CFLT) Stock Price

Confluent (NASDAQ:CFLT) had its price objective hoisted by investment analysts at Barclays from $35.00 to $37.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 22.92% from the company’s previous close.

A number of other analysts have also recently commented on the stock. Citigroup boosted their target price on shares of Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Scotiabank boosted their target price on shares of Confluent from $25.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. TD Cowen upped their price objective on shares of Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Sanford C. Bernstein dropped their price objective on shares of Confluent from $38.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Needham & Company LLC upped their price objective on shares of Confluent from $31.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.89.

Confluent Stock Down 4.3 %

CFLT opened at $30.10 on Wednesday. Confluent has a fifty-two week low of $17.79 and a fifty-two week high of $35.07. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. The company has a fifty day moving average of $29.49 and a two-hundred day moving average of $25.28. The stock has a market capitalization of $9.87 billion, a price-to-earnings ratio of -27.12 and a beta of 0.92.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. On average, research analysts expect that Confluent will post -0.9 earnings per share for the current year.

Insider Buying and Selling at Confluent

In related news, CAO Kong Phan sold 2,096 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total value of $59,170.08. Following the transaction, the chief accounting officer now directly owns 190,680 shares of the company’s stock, valued at $5,382,896.40. This trade represents a 1.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lara Caimi sold 34,500 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $31.32, for a total transaction of $1,080,540.00. Following the completion of the transaction, the director now directly owns 7,160 shares in the company, valued at $224,251.20. This trade represents a 82.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,508,636 shares of company stock valued at $47,198,798. Insiders own 13.82% of the company’s stock.

Institutional Trading of Confluent

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Confluent by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 24,828,562 shares of the company’s stock worth $694,207,000 after acquiring an additional 599,582 shares during the period. Champlain Investment Partners LLC lifted its stake in shares of Confluent by 72.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock worth $218,083,000 after acquiring an additional 4,486,841 shares during the period. Geode Capital Management LLC lifted its stake in shares of Confluent by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,325,709 shares of the company’s stock worth $88,180,000 after acquiring an additional 107,510 shares during the period. Atreides Management LP lifted its stake in shares of Confluent by 7.3% in the 3rd quarter. Atreides Management LP now owns 2,706,910 shares of the company’s stock worth $55,167,000 after acquiring an additional 184,865 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Confluent by 46.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,513,426 shares of the company’s stock worth $51,224,000 after acquiring an additional 802,353 shares during the period. Institutional investors and hedge funds 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.