Confluent (NASDAQ:CFLT) PT Lowered to $27.00 at TD Cowen

Confluent (NASDAQ:CFLT) had its price objective cut by TD Cowen from $31.00 to $27.00 in a research report released on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also commented on CFLT. Loop Capital decreased their price objective on shares of Confluent from $30.00 to $25.00 and set a hold rating for the company in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Confluent from $35.00 to $30.00 and set a buy rating on the stock in a research note on Thursday, August 1st. Truist Financial restated a buy rating and set a $30.00 price objective (down previously from $36.00) on shares of Confluent in a research report on Thursday, August 1st. Canaccord Genuity Group decreased their target price on shares of Confluent from $35.00 to $34.00 and set a buy rating on the stock in a research report on Thursday, August 1st. Finally, Evercore ISI decreased their target price on shares of Confluent from $33.00 to $28.00 and set an outperform rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Confluent presently has an average rating of Moderate Buy and a consensus price target of $30.31.

Confluent Stock Performance

NASDAQ CFLT opened at $20.36 on Friday. 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 has a fifty-two week low of $14.69 and a fifty-two week high of $35.07. The stock has a market cap of $6.47 billion, a PE ratio of -16.29 and a beta of 0.88. The firm’s fifty day moving average price is $21.71 and its two-hundred day moving average price is $26.57.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). Confluent had a negative net margin of 42.70% and a negative return on equity of 37.78%. The firm had revenue of $234.99 million for the quarter, compared to the consensus estimate of $229.49 million. On average, equities analysts expect that Confluent will post -0.95 EPS for the current fiscal year.

Insider Buying and Selling at Confluent

In other news, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $19.99, for a total transaction of $4,647,675.00. Following the completion of the transaction, the chief executive officer now owns 452,488 shares of the company’s stock, valued at approximately $9,045,235.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $19.99, for a total value of $4,647,675.00. Following the completion of the sale, the chief executive officer now owns 452,488 shares in the company, valued at approximately $9,045,235.12. 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 Confluent stock in a transaction dated Tuesday, August 20th. The shares were 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 owns 161,673 shares of the company’s stock, valued at approximately $3,505,070.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 524,263 shares of company stock valued at $10,829,566. 13.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On Confluent

A number of institutional investors have recently made changes to their positions in the business. Hollencrest Capital Management acquired a new stake in Confluent in the first quarter worth about $26,000. Quest Partners LLC acquired a new stake in Confluent during the 4th quarter valued at $31,000. V Square Quantitative Management LLC acquired a new stake in Confluent during the 2nd quarter valued at $68,000. UniSuper Management Pty Ltd increased its stake in shares of Confluent by 125.0% in the first 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 last quarter. Finally, Advisors Asset Management Inc. increased its stake in shares of Confluent by 40.3% in the first 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 last quarter. 78.09% of the stock is owned by institutional investors and hedge funds.

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.