Confluent (NASDAQ:CFLT) Stock Price Up 4.2% – What’s Next?

Confluent, Inc. (NASDAQ:CFLT)’s share price rose 4.2% during mid-day trading on Thursday . The company traded as high as $21.84 and last traded at $21.72. Approximately 632,409 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 4,375,214 shares. The stock had previously closed at $20.85.

Analyst Ratings Changes

Several analysts have weighed in on CFLT shares. JMP Securities reiterated a “market outperform” rating and issued a $40.00 price objective on shares of Confluent in a research note on Tuesday, September 24th. Wells Fargo & Company dropped their price target on Confluent from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Baird R W upgraded shares of Confluent to a “hold” rating in a research note on Wednesday, September 4th. Loop Capital dropped their target price 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. Finally, Mizuho reduced their price target on shares of Confluent from $36.00 to $34.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $29.97.

Confluent Trading Down 0.5 %

The business has a fifty day moving average of $20.42 and a 200-day moving average of $25.39. The company has a debt-to-equity ratio of 1.25, a quick ratio of 4.44 and a current ratio of 4.44. The company has a market capitalization of $7.07 billion, a P/E ratio of -17.78 and a beta of 0.88.

Confluent (NASDAQ:CFLT) last posted its earnings results on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.04). Confluent had a negative return on equity of 37.78% and a negative net margin of 42.70%. The business had revenue of $234.99 million for the quarter, compared to the consensus estimate of $229.49 million. Analysts anticipate that Confluent, Inc. will post -0.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Confluent news, CTO Chad Verbowski sold 13,540 shares of Confluent stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total transaction of $293,547.20. Following the transaction, the chief technology officer now directly owns 496,807 shares of the company’s stock, valued at $10,770,775.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Confluent news, Director Lara Caimi sold 9,375 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $20.01, for a total value of $187,593.75. Following the transaction, the director now owns 7,160 shares of the company’s stock, valued at approximately $143,271.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Chad Verbowski sold 13,540 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 $293,547.20. Following the sale, the chief technology officer now directly owns 496,807 shares of the company’s stock, valued at approximately $10,770,775.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 524,453 shares of company stock worth $10,833,388. 13.82% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Confluent

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning raised its position in Confluent by 109.9% in the third quarter. Creative Planning now owns 94,939 shares of the company’s stock worth $1,935,000 after acquiring an additional 49,699 shares during the period. Diversified Trust Co increased its stake in shares of Confluent by 110.3% during the 3rd quarter. Diversified Trust Co now owns 60,503 shares of the company’s stock worth $1,233,000 after purchasing an additional 31,729 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Confluent by 48.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 67,692 shares of the company’s stock worth $1,380,000 after purchasing an additional 22,000 shares during the period. SG Americas Securities LLC lifted its stake in Confluent by 85.0% in the third quarter. SG Americas Securities LLC now owns 85,799 shares of the company’s stock valued at $1,749,000 after purchasing an additional 39,427 shares during the last quarter. Finally, Centaurus Financial Inc. grew its holdings in Confluent by 109.2% during the second quarter. Centaurus Financial Inc. now owns 7,320 shares of the company’s stock valued at $216,000 after purchasing an additional 3,821 shares during the period. 78.09% of the stock is owned by hedge funds and other institutional investors.

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.