Confluent, Inc. (NASDAQ:CFLT) Given Average Rating of "Moderate Buy" by Analysts

Shares of Confluent, Inc. (NASDAQ:CFLT - Get Free Report) have earned a consensus rating of "Moderate Buy" from the thirty ratings firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation, twenty-two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $30.21.

Several research firms recently issued reports on CFLT. Truist Financial dropped their price objective on Confluent from $35.00 to $30.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Evercore ISI dropped their price objective on Confluent from $29.00 to $28.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Needham & Company LLC dropped their price objective on Confluent from $40.00 to $26.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Morgan Stanley dropped their price target on Confluent from $32.00 to $25.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, Robert W. Baird dropped their price target on Confluent from $37.00 to $24.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st.

Insider Buying and Selling at Confluent

In other Confluent news, CFO Rohan Sivaram sold 27,710 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $21.83, for a total transaction of $604,909.30. Following the completion of the transaction, the chief financial officer owned 673,693 shares of the company's stock, valued at $14,706,718.19. This represents a 3.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eric Vishria sold 30,953 shares of the company's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $21.93, for a total value of $678,799.29. Following the transaction, the director directly owned 1,169,876 shares of the company's stock, valued at $25,655,380.68. The trade was a 2.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 546,669 shares of company stock worth $12,637,193 over the last three months. 9.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Confluent by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 26,620,150 shares of the company's stock valued at $623,976,000 after purchasing an additional 1,791,588 shares during the period. Altimeter Capital Management LP lifted its position in Confluent by 11.0% during the first quarter. Altimeter Capital Management LP now owns 13,042,080 shares of the company's stock valued at $305,706,000 after buying an additional 1,295,710 shares during the period. Champlain Investment Partners LLC boosted its holdings in shares of Confluent by 0.3% during the 1st quarter. Champlain Investment Partners LLC now owns 10,862,083 shares of the company's stock valued at $254,607,000 after buying an additional 27,329 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Confluent by 13.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,510,743 shares of the company's stock valued at $129,173,000 after buying an additional 654,827 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Confluent by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 4,409,872 shares of the company's stock valued at $123,339,000 after buying an additional 84,163 shares in the last quarter. Institutional investors own 78.09% of the company's stock.

Confluent Stock Performance

Shares of Confluent stock traded down $0.33 during trading hours on Tuesday, reaching $25.10. The company had a trading volume of 2,030,096 shares, compared to its average volume of 5,761,624. Confluent has a one year low of $17.79 and a one year high of $37.90. The business has a fifty day simple moving average of $23.75 and a 200 day simple moving average of $25.64. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.42 and a quick ratio of 4.42. The firm has a market cap of $8.54 billion, a PE ratio of -25.61 and a beta of 0.99.

Confluent (NASDAQ:CFLT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. The company had revenue of $271.12 million during the quarter, compared to analyst estimates of $264.45 million. Confluent had a negative return on equity of 29.92% and a negative net margin of 31.42%. The firm's quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter last year, the company earned $0.05 earnings per share. On average, analysts anticipate that Confluent will post -0.83 earnings per share for the current fiscal year.

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.