Confluent (NASDAQ:CFLT) Price Target Lowered to $36.00 at Mizuho

Confluent (NASDAQ:CFLT) had its price objective trimmed by Mizuho from $38.00 to $36.00 in a research note published on Monday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages have also issued reports on CFLT. Wells Fargo & Company increased their price target on shares of Confluent from $30.00 to $36.00 and gave the stock an overweight rating in a research note on Thursday, February 8th. Loop Capital initiated coverage on shares of Confluent in a research note on Tuesday, January 30th. They issued a hold rating and a $23.00 price target for the company. UBS Group increased their price target on shares of Confluent from $21.00 to $26.00 and gave the stock a neutral rating in a research note on Monday, February 5th. JPMorgan Chase & Co. increased their price target on shares of Confluent from $23.00 to $27.00 and gave the stock a neutral rating in a research note on Thursday, February 8th. Finally, Needham & Company LLC increased their price target on shares of Confluent from $35.00 to $38.00 and gave the stock a buy rating in a research note on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Confluent has a consensus rating of Moderate Buy and a consensus price target of $30.64.

Confluent Stock Down 0.9 %

Shares of NASDAQ CFLT opened at $27.41 on Monday. The company has a current ratio of 4.62, a quick ratio of 4.62 and a debt-to-equity ratio of 1.34. Confluent has a 12 month low of $14.69 and a 12 month high of $41.22. The firm has a market capitalization of $8.57 billion, a PE ratio of -18.65 and a beta of 0.91. The firm has a fifty day simple moving average of $31.45 and a two-hundred day simple moving average of $26.43.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings data on Wednesday, February 7th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.01). Confluent had a negative return on equity of 44.16% and a negative net margin of 56.99%. The company had revenue of $213.18 million during the quarter, compared to the consensus estimate of $204.62 million. Equities analysts expect that Confluent will post -0.92 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Erica Schultz sold 63,729 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $31.75, for a total value of $2,023,395.75. Following the transaction, the insider now owns 479,537 shares of the company’s stock, valued at $15,225,299.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Ying Christina Liu sold 4,109 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $32.15, for a total value of $132,104.35. Following the transaction, the chief accounting officer now owns 123,497 shares of the company’s stock, valued at $3,970,428.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Erica Schultz sold 63,729 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $31.75, for a total transaction of $2,023,395.75. Following the sale, the insider now owns 479,537 shares in the company, valued at approximately $15,225,299.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,433,170 shares of company stock valued at $46,438,029. 22.08% of the stock is owned by insiders.

Institutional Investors Weigh In On Confluent

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CFLT. Advisors Asset Management Inc. bought a new stake in Confluent during the 1st quarter worth approximately $30,000. Rakuten Securities Inc. bought a new stake in Confluent during the 4th quarter worth approximately $31,000. Quest Partners LLC bought a new stake in Confluent during the 4th quarter worth approximately $31,000. GAMMA Investing LLC bought a new stake in shares of Confluent during the fourth quarter valued at approximately $35,000. Finally, UniSuper Management Pty Ltd bought a new stake in shares of Confluent during the third quarter valued at approximately $36,000. Institutional investors 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.