UBS Group Raises Confluent (NASDAQ:CFLT) Price Target to $26.00

Confluent (NASDAQ:CFLT) had its price objective boosted by investment analysts at UBS Group from $23.00 to $26.00 in a report released on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price objective would indicate a potential downside of 0.84% from the stock’s current price.

Several other brokerages have also commented on CFLT. Robert W. Baird upped their price target on Confluent from $23.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday. Canaccord Genuity Group lowered their target price on shares of Confluent from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Loop Capital dropped their price target 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. Wolfe Research upgraded shares of Confluent to a “strong-buy” rating in a report on Wednesday, September 18th. Finally, Scotiabank lowered their price objective on shares of Confluent from $28.00 to $25.00 and set a “sector perform” rating for the company in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $30.28.

Confluent Trading Up 0.2 %

Shares of Confluent stock opened at $26.22 on Thursday. The company has a debt-to-equity ratio of 1.25, a current ratio of 4.44 and a quick ratio of 4.44. The stock’s 50 day simple moving average is $21.04 and its 200-day simple moving average is $24.67. The stock has a market cap of $8.46 billion, a P/E ratio of -23.62 and a beta of 0.88. Confluent has a 1-year low of $14.69 and a 1-year high of $35.07.

Confluent (NASDAQ:CFLT) last issued its earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. The company had revenue of $250.20 million for the quarter, compared to the consensus estimate of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.97%. Analysts predict that Confluent will post -0.95 EPS for the current fiscal year.

Insider Buying and Selling at Confluent

In other news, CMO Stephanie Buscemi sold 3,866 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 transaction of $83,814.88. Following the completion of the transaction, 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 legal filing with the SEC, which can be accessed through this link. In other Confluent news, insider Erica Schultz sold 9,556 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total transaction of $207,174.08. Following the sale, the insider now owns 687,483 shares of the company’s stock, valued at approximately $14,904,631.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Stephanie Buscemi sold 3,866 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total transaction of $83,814.88. Following the completion of the transaction, the chief marketing officer now owns 161,673 shares of the company’s stock, valued at approximately $3,505,070.64. The trade was a 0.00 % decrease in their position. 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 over the last ninety days. Corporate insiders own 13.82% of the company’s stock.

Institutional Investors Weigh In On Confluent

Several hedge funds and other institutional investors have recently bought and sold shares of CFLT. Daiwa Securities Group Inc. grew its holdings in shares of Confluent by 7.1% during the first quarter. Daiwa Securities Group Inc. now owns 12,100 shares of the company’s stock worth $369,000 after purchasing an additional 800 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Confluent by 8.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 10,681 shares of the company’s stock valued at $322,000 after purchasing an additional 857 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Confluent by 40.3% in the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock valued at $91,000 after purchasing an additional 859 shares during the period. Hollencrest Capital Management purchased a new position in shares of Confluent during the first quarter worth approximately $26,000. Finally, Resolute Advisors LLC raised its position in Confluent by 11.1% in the 1st quarter. Resolute Advisors LLC now owns 8,693 shares of the company’s stock valued at $265,000 after purchasing an additional 869 shares during the last quarter. 78.09% of the stock is currently owned by institutional investors and hedge funds.

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.