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

Confluent (NASDAQ:CFLT) had its price objective increased by UBS Group from $26.00 to $34.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

CFLT has been the topic of several other reports. JMP Securities reiterated a “market outperform” rating and issued a $40.00 price target on shares of Confluent in a research report on Tuesday, October 29th. Truist Financial raised their price target on Confluent from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Barclays upped their price objective on Confluent from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday. Evercore ISI lifted their price objective on Confluent from $32.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $30.00 target price (down previously from $33.00) on shares of Confluent in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

Confluent Stock Performance

NASDAQ CFLT opened at $34.85 on Wednesday. The business has a 50 day moving average price of $29.67 and a 200 day moving average price of $25.52. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24. The company has a market capitalization of $11.43 billion, a P/E ratio of -31.40 and a beta of 0.92. Confluent has a 1-year low of $17.79 and a 1-year high of $37.90.

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

Insider Activity

In other news, CAO Kong Phan sold 3,947 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $28.74, for a total value of $113,436.78. Following the completion of the sale, the chief accounting officer now owns 179,939 shares of the company’s stock, valued at $5,171,446.86. This represents a 2.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Erica Schultz sold 63,729 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $27.40, for a total value of $1,746,174.60. Following the sale, the insider now owns 687,483 shares in the company, valued at approximately $18,837,034.20. The trade was a 8.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,508,636 shares of company stock valued at $47,198,798. Company insiders own 13.82% of the company’s stock.

Institutional Trading of Confluent

Large investors have recently bought and sold shares of the company. Quantbot Technologies LP lifted its position in shares of Confluent by 1,465.6% during the third quarter. Quantbot Technologies LP now owns 30,295 shares of the company’s stock worth $617,000 after purchasing an additional 28,360 shares in the last quarter. Pathway Capital Management LP acquired a new position in Confluent in the 3rd quarter worth $918,000. Charles Schwab Investment Management Inc. boosted its position in Confluent by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,284,037 shares of the company’s stock valued at $46,549,000 after buying an additional 64,926 shares during the last quarter. Creative Planning grew its stake in shares of Confluent by 109.9% during the third quarter. Creative Planning now owns 94,939 shares of the company’s stock valued at $1,935,000 after acquiring an additional 49,699 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in shares of Confluent by 152.4% during the third quarter. Oppenheimer & Co. Inc. now owns 68,613 shares of the company’s stock valued at $1,398,000 after acquiring an additional 41,431 shares in the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

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.