Confluent (NASDAQ:CFLT) Price Target Increased to $40.00 by Analysts at JMP Securities

Confluent (NASDAQ:CFLT) had its price objective lifted by JMP Securities from $38.00 to $40.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a market outperform rating on the stock.

CFLT has been the subject of a number of other research reports. TD Cowen upped their target price on Confluent from $34.00 to $37.00 and gave the company a buy rating in a report on Wednesday. The Goldman Sachs Group upped their price objective on shares of Confluent from $24.00 to $27.00 and gave the stock a neutral rating in a report on Thursday, February 8th. UBS Group lifted their target price on shares of Confluent from $21.00 to $26.00 and gave the company a neutral rating in a research note on Monday, February 5th. Royal Bank of Canada increased their price target on shares of Confluent from $35.00 to $37.00 and gave the stock an outperform rating in a research note on Wednesday, February 14th. Finally, Guggenheim lifted their price objective on Confluent from $35.00 to $37.00 and gave the company a buy rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $32.77.

Confluent Stock Performance

Shares of NASDAQ:CFLT opened at $31.38 on Wednesday. The company has a current ratio of 4.62, a quick ratio of 4.62 and a debt-to-equity ratio of 1.34. The company has a 50-day moving average price of $30.20 and a 200-day moving average price of $26.28. The company has a market cap of $9.81 billion, a price-to-earnings ratio of -21.35 and a beta of 0.93. Confluent has a 12 month low of $14.69 and a 12 month high of $41.22.

Confluent (NASDAQ:CFLT) last released its quarterly earnings results on Wednesday, February 7th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). Confluent had a negative net margin of 56.99% and a negative return on equity of 44.16%. The business had revenue of $213.18 million for the quarter, compared to the consensus estimate of $204.62 million. As a group, equities analysts anticipate that Confluent will post -0.92 EPS for the current year.

Insider Activity

In related news, insider Erica Schultz sold 63,729 shares of Confluent stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $31.75, for a total value of $2,023,395.75. Following the completion of the sale, the insider now directly owns 479,537 shares in the company, valued at approximately $15,225,299.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 sale, the insider now owns 479,537 shares in the company, valued at $15,225,299.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Ying Christina Liu sold 4,109 shares of Confluent stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $32.15, for a total transaction of $132,104.35. Following the completion of the sale, the chief accounting officer now directly owns 123,497 shares of the company’s stock, valued at approximately $3,970,428.55. The disclosure for this sale can be found here. Insiders have sold a total of 1,433,170 shares of company stock valued at $46,438,029 over the last ninety days. 13.82% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CFLT. Dynamic Technology Lab Private Ltd increased its position in shares of Confluent by 1.9% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 19,129 shares of the company’s stock valued at $448,000 after purchasing an additional 359 shares during the last quarter. Fifth Third Bancorp increased its holdings in Confluent by 5.0% during the fourth quarter. Fifth Third Bancorp now owns 11,703 shares of the company’s stock valued at $274,000 after buying an additional 556 shares during the last quarter. Rhumbline Advisers raised its position in Confluent by 0.3% in the third quarter. Rhumbline Advisers now owns 243,828 shares of the company’s stock worth $7,220,000 after acquiring an additional 629 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Confluent by 6.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 11,300 shares of the company’s stock worth $264,000 after acquiring an additional 700 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its position in shares of Confluent by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 82,082 shares of the company’s stock valued at $1,921,000 after acquiring an additional 800 shares during the period. Institutional investors own 78.09% of the company’s stock.

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.