Confluent (NASDAQ:CFLT) Price Target Cut to $29.00 by Analysts at Mizuho

Confluent (NASDAQ:CFLT) had its price objective decreased by research analysts at Mizuho from $31.00 to $29.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price target would indicate a potential upside of 30.93% from the company’s current price.

A number of other research analysts have also weighed in on CFLT. Royal Bank of Canada cut their target price on shares of Confluent from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Baird R W upgraded shares of Confluent to a “hold” rating in a report on Wednesday, September 4th. Loop Capital decreased their target price on shares of Confluent from $30.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, July 19th. 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 report on Thursday, August 1st. Finally, DA Davidson restated a “buy” rating and set a $30.00 price objective on shares of Confluent in a research report on Wednesday, September 18th. One 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Confluent has a consensus rating of “Moderate Buy” and a consensus price target of $29.79.

Confluent Stock Down 0.6 %

NASDAQ CFLT opened at $22.15 on Thursday. Confluent has a 12 month low of $14.69 and a 12 month high of $35.07. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 1.25. The stock has a market cap of $7.04 billion, a PE ratio of -17.72 and a beta of 0.88. The stock’s 50 day moving average is $20.63 and its 200 day moving average is $25.18.

Confluent (NASDAQ:CFLT) last posted its 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). The firm had revenue of $234.99 million during the quarter, compared to analysts’ expectations of $229.49 million. Confluent had a negative return on equity of 37.78% and a negative net margin of 42.70%. Research 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 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 $83,814.88. Following the transaction, the chief marketing officer now directly owns 161,673 shares in the company, valued at approximately $3,505,070.64. 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 is accessible through this link. In other Confluent news, CFO Rohan Sivaram sold 22,926 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total value of $497,035.68. Following the completion of the transaction, the chief financial officer now directly owns 555,337 shares in the company, valued at approximately $12,039,706.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CMO Stephanie Buscemi sold 3,866 shares of the firm’s stock in a transaction dated 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 sale, the chief marketing officer now owns 161,673 shares in the company, valued at $3,505,070.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 524,453 shares of company stock valued at $10,833,388. Company insiders own 13.82% of the company’s stock.

Institutional Investors Weigh In On Confluent

Several institutional investors have recently bought and sold shares of CFLT. Hollencrest Capital Management acquired a new position in shares of Confluent during the first quarter worth $26,000. V Square Quantitative Management LLC acquired a new stake in Confluent in the second quarter worth about $68,000. UniSuper Management Pty Ltd grew its stake in shares of Confluent by 125.0% during 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. Advisors Asset Management Inc. increased its holdings in shares of Confluent by 40.3% during the first quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock valued at $91,000 after acquiring an additional 859 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position in shares of Confluent by 25.5% in the 1st quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock valued at $175,000 after purchasing an additional 1,167 shares during the last quarter. 78.09% of the stock is currently 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.